Elcoteq - Corporate Action

STOCK OPTIONS EXERCISED TO SUBSCRIBE FOR ELCOTEQ SHARES AND INCREASE IN SHARE CAPITAL

Elcoteq SE	Stock Exchange Announcement    	May 16, 2007 at 4.15 pm (EET)

A total of 841,442 options under Elcoteq SE's 2001 stock option scheme have
been exercised to subscribe for 841,442 new Elcoteq Series A shares between
April 19 and April 30, 2007. The share subscription price was 6.33 euros per
share, as stipulated in the option scheme's conditions. The 2001 option scheme
expired on April 30, 2007. 
 
The 841,442 new shares will be recorded in the Trade Register on or about May
28, 2007. Elcoteq's share capital will increase by altogether 336,576.80 euros
as a result of the subscription, totaling 13,041,167.60 euros from the date of
registration. Following the increase the number of A shares will total
22,025,919. 

The new shares will carry dividend rights from the date of registration, and
Elcoteq will apply for their listing on the Helsinki Stock Exchange with the
company's existing shares. Trading in these shares will start on or about May
29, 2007. 


ELCOTEQ SE

Reeta Kaukiainen
Director, Communications and Investor Relations

About Elcoteq
Elcoteq SE is a leading electronics manufacturing services (EMS) company with
original design manufacturing (ODM) capabilities in the communications
technology field. Elcoteq provides global end-to-end solutions consisting of
design, NPI, manufacturing, supply chain management, and after-sales services
for the whole lifecycle of its customers' products. These products include
terminal products such as mobile phones and set-top boxes as well as
communications network equipment such as base-stations, tower-top amplifiers,
and microwave systems. The company operates in 16 countries on four continents
and employs approximately 23,000 people. Elcoteq's consolidated net sales for
2006 totaled 4.3 billion euros. Elcoteq SE is listed on the Helsinki Stock
Exchange.  For more information visit the Elcoteq website at www.elcoteq.com.