Elcoteq - Company Announcement

Elcoteq's Debenture Holders Agree to Amend the Terms of the Notes

Elcoteq SE
Stock Exchange Release
September 3, 2009, at 3.30 pm (EET)

Elcoteq's debenture holders held a meeting today in Helsinki. The
meeting was convened to amend the terms and conditions of
subordinated notes I/2004, I/2005,  II/2005 and I/2006  by adding the
following provision: "The creditor has the right to use the Note, in
accordance with the terms and conditions of the issue, for the
payment or setting off of subscription price or equivalent payment,
in an issue of shares, other special rights, bonds or subordinated
notes (including instrument classified as equity) arranged by the
Issuer or if the Issuer sells securities or other special rights
issued by the company that it holds, or makes an offer for the
exchange of such. Subject to the consent of the noteholder, the
Issuer also has the right to pay back the Loan prematurely, either in
part or in full." Concerning the note II/2005, a provision providing
that the Issuer does not have the right to pay back the loan
prematurely, was to be deleted.

The amendments were approved by the debenture holders except for the
I/2005 note, where the decision could not be taken due to the absence
of the single noteholder. These amendments were made in order to be
able to carry out restructuring actions which are needed to
strengthen the company's equity. A possible concrete proposal about
the restructuring of the loans will be presented to the debenture
holders separately.

ELCOTEQ SE

Minna Aila
Director, Communications and Corporate Responsibility

Further information:
Mikko Puolakka, CFO, tel. +358 10 413 1287
Markus Kivimäki, SVP, Legal Affairs, tel. +358 10 413 1248


About Elcoteq
Elcoteq SE is a leading electronics manufacturing services (EMS)
company in the communications technology field. Elcoteq's global
service offering covers the entire lifecycle of products, from
product development to after-market services. By further combining
mechanics expertise into its service offering, Elcoteq's vision is to
be a leading integrated electronics manufacturing services (IEMS)
company.
Elcoteq provides global end-to-end solutions consisting of product
development services, supply chain management, NPI, manufacturing,
and after market services for the whole lifecycle of its customers'
products. These products include Consumer Electronics products such
as mobile and wireless phones, their parts and accessories, set-top
boxes, flat panel TVs and other consumer products as well as System
Solutions products such as wireless and wireline infrastructure
systems and modules, enterprise network products and other industrial
segment products.

The Group's consolidated net sales for 2008 totaled 3.4 billion euros
and it employs approximately 13,000 persons. Elcoteq SE is listed on
the Nasdaq OMX Helsinki Ltd.  For more information visit the Elcoteq
website at www.elcoteq.com.