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Subscription of Shares with KONE 2005A and 2005B Option Rights in 2006

Stock Exchange Release Published 27/02/2006

KONE 2005A and 2005B option rights based on the KONE Corporation option program 2005 were listed on the main list of the Helsinki Stock Exchange on 1 June, 2005. Each option right entitles to subscription for six (6) class B shares at a price of EUR 8.04 per share.

The remaining 2005A option rights entitle the holders to subscribe for 307,380 class B shares, and the remaining 2005B option rights for 655,200 class B shares. The series A option rights share subscription period ends on 31 March, 2008 and the series B option rights subscription period on 31 March, 2009.

The share subscription timetable in 2006 is as follows:

Last subscription dateIncrease of share capital registered
15 March, 2006by 31 March, 2006
20 April, 2006by 5 May, 2006
21 July, 2006by 11 August, 2006
19 October, 2006by 3 November, 2006
30 November, 2006by 29 December, 2006

The Board will not handle share subscriptions between the end of the accounting period and the Annual General Meeting 2007.

Sender:

KONE Corporation

Tapio Hakakari
Secretary to the Board of Directors

Minna Mars
Senior Vice President, Corporate Communications & IR

For further information, please contact:
Minna Mars, SVP, Corporate Communications & IR, tel. +358 (0)204 75 4501

KONE is one of the world’s leading elevator and escalator companies. It provides its customers with industry-leading elevators and escalators and innovative solutions for their maintenance and modernization. KONE also provides maintenance of automatic building doors. KONE has annual net sales of approximately EUR three billion and about 27,000 employees. Its class B shares are listed on the Helsinki Exchanges.

www.kone.com