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Subscription of Shares with KONE 2005A and 2005B Option Rights in 2008

Stock Exchange Release Published 30/12/2007

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 (today known as OMX Nordic Exchange Helsinki) 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 168,078 class B shares, and the remaining 2005B option rights for 423,192 class B shares. The series 2005A option rights share subscription period ends on 31 March, 2008 and the series 2005B option rights subscription period on 31 March, 2009.

The share subscription timetable in 2008 is as follows:

2005A option rights

Last subscription dateIncrease of share capital registered latest
20 February, 2008by 7 March, 2008
31 March, 2008by 30 April, 2008
Last subscription dateIncrease of share capital registered latest
20 February, 2008by 7 March, 2008
17 April, 2008by 30 April, 2008;
17 July, 2008by 8 August, 2008;
16 October, 2008by 31 October, 2008;
30 November, 2008by 31 December, 2008;

The Board will not handle share subscriptions between the end of the accounting period 2008 and the following Annual General Meeting.

For further information, please contact:
Jukka Ala-Mello, Secretary to the Board, tel. +358 (0)204 75 4226

About KONE

KONE is one of the world’s leading elevator and escalator companies. It provides customers with industry-leading elevators, escalators and innovative solutions for maintenance and modernization. KONE also provides maintenance services for automatic building doors. In 2006, KONE had annual net sales of EUR 3.6 billion and approximately 29,000 employees. Its class B shares are listed on the OMX Nordic Exchange Helsinki in Finland.

www.kone.com

Sender:

KONE Corporation

Jukka Ala-Mello
Secretary to the Board

Minna Mars
Senior Vice President, Corporate Communications & IR