Konecranes Oyj - Corporate Action

SHARE SUBSCRIPTION UNDER KONECRANE'S STOCK OPTIONS

A total of 53,000 new Konecranes shares have been subscribed with stock option  
rights under Konecranes' stock option plans as follows:                         

--------------------------------------------------------------------------------
| Stock option right         |            Shares  |         Subscription price |
|                            |                    |                (EUR/share) |
--------------------------------------------------------------------------------
| 1999 B-series              |              6,800 |                       8.25 |
--------------------------------------------------------------------------------
| 2001 B-series              |              1,200 |                       8.50 |
--------------------------------------------------------------------------------
| 2003 B-series              |             45,000 |                      5.405 |
--------------------------------------------------------------------------------

Following these subscriptions the number of Konecranes Plc's shares will        
increase to 60,844,580 shares. The subscription price will be booked in its     
entirety to the paid in capital.                                                

The new shares will be recorded in the Trade Register on 6 November, 2007. The  
new shares will carry shareholders' rights from the date of registration.       
Konecranes will apply for their listing on the Helsinki Stock Exchange with the 
company's existing shares. Trading in the new shares will start on or about 7   
November, 2007.                                                                 

The remaining outstanding stock options entitle to subscription of 2,234,240    
shares. The terms and conditions of all Konecranes ongoing stock option plans   
are available on the Investor Relations website at www.konecranes.com.          

Konecranes is a world-leading group of Lifting Businesses™, serving a broad     
range of customers, including manufacturing and process industries, shipyards,  
ports and terminals. Konecranes provides productivity-enhancing lifting         
solutions and services for lifting equipment of every make. In 2006, Group sales
totalled EUR 1483 million. The Group has 8,000 employees, at more than 370      
locations in 41 countries. Konecranes is listed on the OMX Helsinki Stock       
Exchange (symbol: KCR1V).                                                       

KONECRANES PLC                                                                  


Paul Lönnfors                                                                   
IR Manager                                                                      




FURTHER INFORMATION                                                             
Konecranes Plc                                                                  
Teo Ottola, Chief Financial Officer, tel. +35820 427 2040                       




DISTRIBUTION                                                                    
OMX Helsinki Stock Exchange                                                     
Media