KONE Oyj - Decisions of general meeting

KONE Oyj : Decisions taken by KONE Corporation's Annual General Meeting and Board of Directors

Stock exchange release, March 5, 2012, at 1.20 p.m. EET

Matters relating to the Annual General Meeting
KONE Corporation's Annual General Meeting was held in Helsinki on March
5, 2012. The meeting approved the financial statements and discharged the
responsible parties from liability for the financial period January 1-December
31, 2011.

The General Meeting approved dividends of EUR 1.395 for each of the 38,104,356
class A shares and EUR 1.40 for the 216,635,414 outstanding class B shares. The
date of record for dividend distribution is March 8, 2012, and dividends will be
payable on March 15, 2012.

The number of Members of the Board of Directors was confirmed as nine. Re-
elected as Members of the Board were Matti Alahuhta, Anne Brunila, Reino
Hanhinen, Antti Herlin, Sirkka Hämäläinen-Lindfors, Juhani Kaskeala and Sirpa
Pietikäinen and as new Members of the Board were elected Shinichiro Akiba and
Jussi Herlin.

The General Meeting confirmed an annual compensation of EUR 54,000 for the
Chairman of the Board, EUR 44,000 for the Vice Chairman and EUR 33,000 for Board
Members. In addition, a compensation of EUR 500 was approved for attendance at
Board and Committee meetings.

Authorized public accountants PricewaterhouseCoopers Oy and Heikki Lassila were
nominated as auditors.

Authorization to repurchase own shares
The General Meeting approved the authorization for the Board of Directors to
repurchase KONE's own shares. Altogether no more than 25,570,000 shares may be
repurchased, of which no more than 3,810,000 may be class A shares and
21,760,000 class B shares. The authorization shall remain in effect for a period
of one year from the date of decision of the General Meeting.

Amending the Articles of Association
The General Meeting approved to amend paragraphs 4 and 8 of the Articles of
Association as follows:

§ 4 Board of Directors
The Board of Directors of the company shall include a minimum of five (5) and a
maximum of ten (10) regular members, as well as a maximum of three (3) deputy
members. The Board of Directors shall elect the Chair of the Board and the
Deputy Chair from amongst its members. The term of office of the Board of
Directors shall expire at the end of the first Annual General Meeting of
Shareholders following the election. The Board of Directors is deemed to
constitute a quorum when more than a half of its members are present.

§ 8 Summons to a General Meeting
The summons to a General Meeting of Shareholders must be published on the
website of the company no earlier than three (3) months and no later than three
(3) weeks prior to the General Meeting of Shareholders, but in any case at the
latest nine (9) days prior to the record date of the General Meeting of
Shareholders. The Board of Directors may decide to publish the summon or the
notice of the General Meeting during the same time limit in one or several
newspapers.

Decisions by the Board of Directors
At its meeting held after the General Meeting, the Board of Directors elected
from among its members Antti Herlin as its Chair and Sirkka Hämäläinen-Lindfors
as Vice Chair.

Antti Herlin was elected as Chairman and Sirkka Hämäläinen-Lindfors, Anne
Brunila and Jussi Herlin as members of the Audit Committee. Sirkka Hämäläinen-
Lindfors and Anne Brunila are independent of both the company and of significant
shareholders.

Antti Herlin was elected as Chairman and Reino Hanhinen, Juhani Kaskeala and
Jussi Herlin as members of the Nomination and Compensation Committee. Reino
Hanhinen and Juhani Kaskeala are independent of both the company and of
significant shareholders.

About KONE
KONE is one of the global leaders in the elevator and escalator industry. The
company has been committed to understanding the needs of its customers for the
past century, providing industry-leading elevators, escalators and automatic
building doors as well as innovative solutions for modernization and
maintenance. The company's objective is to offer the best People Flow®
experience by developing and delivering solutions that enable people to move
smoothly, safely, comfortably and without waiting in buildings in an
increasingly urbanizing environment. In 2011, KONE had annual net sales of EUR
5.2 billion and on average 35,000 employees. KONE class B shares are listed on
the NASDAQ OMX Helsinki Ltd in Finland.

www.kone.com

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

Sender:

KONE Corporation

Jukka Ala-Mello
Secretary to the Board

Anne Korkiakoski
Executive Vice President
Marketing and Communications


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