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The result of the mandatory offer for the shares and securities in Partek Corporation

The result of the mandatory offer for the shares and securities in Partek Corporation

Stock Exchange Release Published 14/10/2002

NOT FOR RELEASE IN THE UNITED STATES, JAPAN, CANADA OR AUSTRALIA
Unofficial translation from the original in Finnish
KONE announced its mandatory offer for the shares and securities in Partek on 5 September 2002. The offer period commenced on 9 September 2002 and ended on 11 October 2002. The offer consisted of the share offer, the convertible subordinated bond offer and the convertible capital loan offer.
During the offer period, a total of 1,011 shareholders in Partek accepted KONE’s offer and the number of shares offered to KONE totalled 369,151 shares. During the offer period, KONE also acquired 22,643 Partek shares from the Helsinki Exchanges. KONE holds a total of 49,028,716 shares in Partek, which represent approximately 99.5 percent of the shares and votes in Partek.
Following the offer period, KONE holds approximately 93.7 percent of outstanding convertible subordinated bonds issued by Partek in 1994 and approximately 98.9 percent of the outstanding convertible capital loans issued by Partek in 1999.
Simultaneously to above described mandatory offer process, the shareholders in Partek have had the opportunity to tender their shares for redemption until 7 October 2002 in accordance with Partek’s articles of association. However, no shares were tendered to KONE in accordance with Partek’s articles of association.
In accordance with the Finnish Companies Act, Chapter 14 and section 19, KONE is entitled and obligated to redeem all remaining shares in Partek. For this purpose Kone Finance Corporation has initiated the process by applying for the appointment of court of arbitrage from the Board of Arbitration of the Central Chamber of Commerce.
Following the redemption procedures, KONE will seek de-listing of Partek’s shares from the Helsinki Exchanges.
Sender:
KONE Corporation
Tapio Hakakari
Secretary to the Board of Directors
Kone Finance Corporation
Aimo Rajahalme
Chairman of the Board of Directors
For additional information, please contact:

Tapio Hakakari
telephone +358 20 475 4226, mobile +358 400 408 316.
This stock exchange release must not be released or distributed in whole or in part in or into the United States of America, Canada, Australia or Japan.
The offer is not being made directly or indirectly in or into the United States of America, or by use of the mails or by any means or instrumentality (including without limitation facsimile transmission, telex, telephone and the internet) of interstate or foreign commerce, nor is it being made directly or indirectly in or into Canada, Australia or Japan.