Cramo Oyj - Company Announcement

CRAMO AND RENTAKRAN ESTABLISH JOINT RENTAL OPERATION IN RUSSIA

CRAMO AND RENTAKRAN ESTABLISH JOINT RENTAL OPERATION IN RUSSIA                  

Cramo Plc, one of Europe's leading rental companies, and ZAO Rentakran, the     
leading heavy lifting rental service company in Russia, establish a joint rental
operation in Russia. Cramo Plc owns 75% and ZAO Rentakran 25% of the new        
company. Cramo has an option to buy the 25% minority share from the other       
shareholder in spring 2011.                                                     

The new company will rent high quality construction machinery and deliver       
related services to its construction and industry customers. The company will   
start its operations immediately in Rentakran's depots in Moscow, Yekaterinburg 
and Krasnodar. It will expand rapidly to other large Russian cities along with  
its customers. Cramo and Rentakran believe that the fast construction growth    
will continue long time in the Russian market which is boosted by stable        
economic development, new industrial initiatives as well as the 2014 Winter     
Olympics in Sochi.                                                              

"Cramo has strong experience from Russia where it has been doing rental business
successfully for a long time in Saint Petersburg. Now we are taking a big step  
forward in expanding to new markets in Moscow and other major construction      
markets in Russia", comments Jarmo Laasanen of Cramo. "Our strategic cooperation
with Rentakran brings us new customers and already working relationships with   
the authorities of the new territories. This arrangement also implements Cramo's
earlier stated strategy to expand its business in Eastern Europe".              

"Through the new joint venture company we can offer Rentakran's customers the   
possibility to rent all types of construction equipment, like site huts,        
generators, hoists, working platforms and aerials from one source. Our customers
will benefit from Rentakran's high quality service being added to a wider       
product portfolio. Cramo's resources and general rental experience will ensure  
an increased supply of high quality equipment to the market", says Juhani       
Järvilehto of Rentakran.                                                        

The strategic cooperation through the new company will satisfy the growing need 
for new technology, professional construction equipment and related services.   
The new company will invest in new equipment and it is expected to quickly      
achieve a strong position in the Russian equipment rental market.               

CRAMO PLC                                                                       

Vesa Koivula                                                                    
President and CEO                                                               

Further information                                                             
Vesa Koivula, President and CEO, Cramo Plc, +358 40 510 5710                    
Jarmo Laasanen, Senior Vice President, Cramo Plc, +358 50 500 0541              
Juhani Järvilehto, ZAO Rentakran, +7 095 103 0640                               

Distribution                                                                    
OMX Nordic Exchange Helsinki Oy                                                 
Major media                                                                     
www.cramo.com                                                                   

Cramo Plc is a service company specialising in construction machinery and       
equipment rental and rental-related services, as well as rental and sale of     
modular space. As one of the industry's leading service providers in the Nordic 
countries and Central and Eastern Europe, Cramo operates in ten countries with  
250 outlets. With a group staff of approximately 2,000, Cramo's consolidated    
sales for 2006 totalled EUR 402 million. Cramo is listed on the OMX Nordic      
Exchange Helsinki Oy. For further information, please visit www.cramo.com.      

Rentakran is the leading crane rental company in Russia with a fleet about 300  
western tower and truck cranes including brands such as Liebherr, Potain and    
Alimak. Its customers include big international and Russian construction        
companies as well as industry and energy organizations. Rentakran employs some  
400 people and has its operations now in Moscow, Yekaterinburg and Krasnodar.