KONE Oyj - Company Announcement

European Commission’s decision on local anticompetitive practices in the elevator and escalator industry

The European Commission started an investigation concerning anticompetitive
practices in the elevator and escalator market in Europe in 2004. The outcome
of the three-year process has been announced today. The Commission has found
KONE’s subsidiaries in Belgium, Luxembourg, Germany and the Netherlands to have
been involved in local anticompetitive practices prior to early 2004, and has
imposed a EUR 142 million fine on KONE. The fine was imposed for
anticompetitive practices in Germany and the Netherlands. KONE did not receive
a fine in relation to Belgium and Luxembourg, as KONE was the first company to
cooperate with the Commission regarding these countries. 

KONE will examine the Commission’s decision and decide on potential further
action. 

Sender:

KONE Corporation


Klaus Cawén			Minna Mars
Executive Vice President 		Senior Vice President,
                                     Corporate Communications & IR

For further information, please contact:
Minna Mars, SVP, Corporate Communications & IR , tel. +358 20475 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 2006, KONE had annual net
sales of EUR 3.6 billion and about 29,000 employees. Its class B shares are
listed on the Helsinki Stock Exchange in Finland. 

www.kone.com