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Title Changes within KONE Corporation

Press Release Published 18/12/2006

The Board of Directors of KONE Corporation announces the following changes in KONE Corporation's titles effective immediately: Antti Herlin's title will henceforth be Chairman of the Board of KONE Corporation, and Matti Alahuhta's title will be President and CEO of KONE Corporation. Previously, Herlin was the CEO in addition to serving as Chairman of the Board.

"These changes in titles better reflect our existing mutual cooperation, trust and the current distribution of work," says Antti Herlin.

Sender:

KONE Corporation

Jukka Ala-Mello
Director, Secretary to the Board

Minna Mars
Senior Vice President,
Corporate Communications & IR

For further information, please contact:
Minna Mars, SVP, Corporate Communications & IR, tel. +358 (0)50 384 9440
or +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. In 2005, KONE had annual net sales of EUR 3.2 billion and about 27,000 employees. Its class B shares are listed on the Helsinki Stock Exchange.

www.kone.com