KONE Oyj - Notice to general meeting

Summons to the Annual General Meeting

KONE Corporation, Stock Exchange Release, January 25, 2008

The shareholders of KONE Corporation are hereby summoned to the
Annual General Meeting to be held at Finlandia Hall, Mannerheimintie
13, Helsinki, on Monday February 25, 2008 at 11:00 am. Shareholder
registration will begin at 10:00 am.

The meeting shall decide on the following matters:

1. Matters pertaining to the Annual General Meeting as stated in
Article 13 of KONE's Articles of Association and in Chapter 5 of the
Companies Act:

The company's financial statements for the 2007 financial period as
well as the Board of Directors' proposal for distribution of profits
was published on January 25, 2008. The company's Board of Directors
proposes that a dividend of EUR 1.29 be paid for each of the
19,052,178 class A shares and EUR 1.30 for each of the outstanding
106,955,663 class B shares. If the General Meeting approves the Board
of Directors' proposal for dividends, the date of record for dividend
distribution will be February 28, 2008 and dividends will be paid on
March 6, 2008.

The Board of Directors' Nomination and Compensation Committee
proposes that the number of board members and the composition of the
Board of Directors be kept unchanged. Therefore, Antti Herlin, Sirkka
Hämäläinen-Lindfors, Matti Alahuhta, Reino Hanhinen, Sirpa
Pietikäinen, Masayuki Shimono, and Iiro Viinanen would be elected,
subject to their consent, as board members, and Jussi Herlin would be
elected as a deputy member. In addition, the Nomination and
Compensation Committee proposes that the board members be compensated
as follows: Chair of the Board of Directors EUR 54,000, Vice Chair
EUR 42,000, board members EUR 30,000, and deputy members EUR 15,000
per year, as well as an EUR 500 fee per meeting for Board and
Committee meetings. The Board of Directors' Audit Committee proposes
that authorized public accountants PricewaterhouseCoopers Oy and
Heikki Lassila be re-elected, subject to their consent, as auditors.

2. Amendment of the Articles of Association

The company's Board of Directors proposes that the General Meeting
decide to amend the Articles of Association due to the new Companies
Act, which entered into force on September 1, 2006, as follows:

- the stipulations on the minimum and maximum amount of the company's
capital and number of shares and on the nominal value of the shares
will be abolished, and the wording otherwise specified without
amending the content (3 and 4 §)
- the stipulations concerning the record date will be abolished (5 §)
- the terminology concerning the representation of the company will
be specified (8 §)
- references to the delivery dates for summons to General Meetings
will be amended to correspond to the new Companies Act (11 §)
- the agenda of the Annual General Meeting of Shareholders will be
amended to correspond to the new Companies Act (13 §)
- Articles 3, 4 and 5 as well as 8 and 9 of the Articles of
Association will be combined so that the amended Articles of
Association will consist of 12 Articles in total, and the numbering
of the entire Articles of Association will be amended
correspondingly.

3. Share split, i.e. increasing the number of shares through a share
issue without payment

The company's Board of Directors proposes that the number of shares
in the company be increased by issuing new shares to the shareholders
without payment in proportion to their holdings so that one class A
share will be given for each class A share and one class B share will
be given for each class B share. A total of 19,052,178 class A shares
and 109,300,416 class B shares will be issued, so that after the
share issue, there will be a total of 38,104,356 class A shares and a
total of 218,600,832 class B shares. The share issue will be
implemented in the book-entry system and does not require measures by
the shareholders. The shareholders who are registered in the
company's shareholder register on the record date, February 28, 2008,
are entitled to shares. New shares will produce shareholder rights as
of the registration of the share issue, however, the new shares will
not entitle their holders to the dividends to be decided in the
General Meeting to be held on February 25, 2008. The New Shares are
to be admitted to public trading and entered into the book-entry
system on February 29, 2008.

4. Confirmation of the fulfillment of the share subscription criteria
for the 2005C option rights and crediting the subscription price for
the shares issued based on the 2005A, 2005B, 2005C, and 2007 option
rights in part to the paid-up unrestricted equity reserve

The General Meeting of November 21, 2005 decided on issuing a maximum
of 2,000,000 2005C option rights conditionally so that the share
subscription period will only begin if the average net sales growth
of the KONE Group for the 2006 and 2007 financial periods exceeds
market growth and the Earnings Before Interest and Taxes (EBIT) of
the KONE Group for the 2006 financial period exceeds the EBIT for the
2005 financial period and the EBIT for the 2007 financial period
exceeds the EBIT for the 2006 financial period. The company's Board
of Directors proposes that the share subscription period for the
2005C option rights be confirmed to begin on April 1, 2008.

In addition, the company's Board of Directors proposes that EUR 0.5
of the subscription price to be paid for the new shares issued based
on the 2005A, 2005B, 2005C, and 2007 option rights (EUR 0.25 if the
General Meeting approves the increase to the number of shares
described above under section 3) be credited to the share capital,
and that the remaining part be credited to the paid-up unrestricted
equity reserve. Should the number of shares be increased, the number
of shares to be subscribed for based on the 2005A, 2005B, 2005C and
2007 option rights will increase, and the share subscription price
will decrease in the same proportion.

5. Authorization of the Board of Directors to decide on the
repurchase of treasury shares and on the distribution of the
repurchased treasury shares

The company's Board of Directors proposes that the General Meeting
authorize the Board of Directors to decide on the repurchase of no
more than 12,785,000 treasury shares with assets from the company's
unrestricted equity so that a maximum of 1,905,000 class A shares and
a maximum of 10,880,000 class B shares may be repurchased. The
consideration to be paid for the repurchased shares with respect to
both class A and class B shares will be determined based on the
trading price determined for class B shares on the OMX Nordic
Exchange Helsinki on the date of repurchase.

Treasury shares may be repurchased in order to develop the company's
capital structure, to finance or carry out acquisitions or other
transactions, to implement the company's share-based incentive plans,
to be transferred for other purposes, or to be cancelled. As a result
of the share repurchase, the company's distributable unrestricted
equity will decrease.

Class A shares will be repurchased in proportion to holdings of class
A shareholders at a price equivalent to the average price paid for
the company's class B shares on the OMX Nordic Exchange Helsinki on
the date of repurchase. Any holder wishing to offer his or her class
A shares for repurchase by the company must state his or her
intention to the company's Board of Directors in writing. The company
may deviate from the obligation to repurchase shares in proportion to
the shareholders' holdings if all the holders of class A shares give
their consent. Class B shares will be purchased in public trading on
the OMX Nordic Exchange Helsinki at the market price as per the time
of purchase. Class B shares will not be repurchased in proportion to
the holdings of the shareholders as they will be repurchased in
public trading.

The Board of Directors proposes that the General Meeting authorize
the Board of Directors to decide on the distribution of treasury
shares in the possession of the company so that the authorization is
limited to 1,905,000 class A shares and 10,880,000 class B shares.
The Board of Directors is authorized to decide to whom the shares
will be given, i.e. distribute shares in directed manner in deviation
from the shareholders' pre-emptive rights. The repurchased shares may
be distributed as consideration in possible acquisitions and other
transactions as well as be used to implement the company's
share-based incentive plans in the manner and to the extent decided
by the Board of Directors. The Board of Directors also has the right
to decide on selling the treasury shares in public trading on the OMX
Nordic Exchange Helsinki for the purpose of financing possible
acquisitions. The shares will be distributed at least at the market
price at the moment of their distribution, such price to be
determined on the basis of the trading price for class B shares
determined in public trading on the OMX Nordic Exchange Helsinki.

Should the General Meeting approve the increase to the number of
shares described above under section 3, the number of shares subject
to the authorization will increase correspondingly.

The Board of Directors proposes that the authorizations will replace
the authorizations granted by the Annual General Meeting of February
26, 2007 and that they will remain in effect for a period of one year
following the date of decision of the General Meeting.

Availability of Documents

The company's financial statements and the proposals by the Board of
Directors are available for inspection by the shareholders one week
prior to the General Meeting at the company's main office at
Kartanontie 1, Helsinki, and on the company's internet pages at
www.kone.com/agm. Copies of the documents will be sent to the
shareholders upon request, and they will also be available at the
General Meeting.

Right to Participate

In order to participate in the General Meeting, shareholders must be
registered in the company's shareholder register maintained by the
Finnish Central Securities Depository at the latest on February 15,
2008. In order to participate in the General Meeting,
nominee-registered shareholders must contact their account operator
in order for the shareholder to be temporarily entered into the
shareholder register at the latest on February 15, 2008.

Declaration of Intention to Attend

A shareholder who wishes to attend the General Meeting must declare
his or her intention to attend to the company no later than 4:00 pm
on February 20, 2008. The declaration can be made:

- via KONE's Internet pages at www.kone.com/agm,
- by letter to KONE Corporation, Share Register, PL 7, 02151 Espoo,
Finland,
- by telefax to +358 20 475 4523, or
- by phone to +358 20 475 4548.

Shareholders are requested to notify the company of any proxies for
the General Meeting so that the proxies are in the company's
possession by the end of the registration period on February 20,
2008.

Helsinki, January 25, 2008

BOARD OF DIRECTORS

Sender:

KONE Corporation


Jukka Ala-Mello
Secretary to the Board

Minna Mars
Senior Vice President,
Corporate Communications & IR

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 2007,
KONE had annual net sales of EUR 4.1 billion and approximately 32,500
employees. KONE class B shares are listed on the OMX Nordic Exchange
Helsinki in Finland.

www.kone.com