KONE Corporation, stock exchange announcement, March 17, 2008 KONE will apply for the listing of its 2005C stock options on the OMX Nordic Exchange Helsinki in Finland so that the listing begins as of April 1, 2008. The stock options are to be entered into the book-entry system as of March 31, 2008. The total number of 2005C stock options is 2,000,000. Each option right entitles its owner to subscribe for two (2) KONE Corporation's class B shares. The maximum number of new class B shares that can be subscribed for with the 2005C option rights is 4,000,000. KONE Corporation's subsidiary, KONE Capital Oy, has 522,000 stock options in its possession. The current subscription price for 2005C stock options is EUR 12.55 per share. According to the options' terms and conditions, the subscription price shall be deducted by the amount of dividend confirmed before the subscription period. The subscription period begins on April 1, 2008 and ends on April 30, 2010. The annual subscription period during which the shares can be subscribed with the stock options lasts from March 1 to November 30. Subscription services will be provided by Carnegie Investment Bank Ab, Finland Branch. The reasons to grant 2005C stock options and the initial option terms and conditions have been disclosed in a stock exchange release on October 24, 2005. The updated terms and conditions can be found on KONE's website at www.kone.com. In 2008, the increases in share capital based on the share subscriptions will be registered as follows: +-------------------------------------------------------------------+ | Last subscription | Board's | Registration of the increase | | date | approval | in share capital latest by | |-------------------+---------------+-------------------------------| | Apr 17, 2008 | Apr 22, 2008 | Apr 30, 2008 | |-------------------+---------------+-------------------------------| | July 17, 2008 | July 22, 2008 | Aug 8, 2008 | |-------------------+---------------+-------------------------------| | Oct 16, 2008 | Oct 21, 2008 | Oct 31, 2008 | |-------------------+---------------+-------------------------------| | Nov 30, 2008 | Dec 15, 2008 | Dec 31, 2008 | +-------------------------------------------------------------------+ About KONE KONE is one of the world's leading elevator and escalator companies. It provides customers with industry-leading elevators, escalators and innovative solutions for maintenance and modernization. KONE also provides maintenance services for automatic building doors. In 2006, KONE had annual net sales of EUR 4.1 billion and over 32,500 employees. KONE class B shares are listed on the OMX Nordic Exchange Helsinki in Finland. www.kone.com For further information, please contact: Jukka Ala-Mello, Secretary to the Board, tel. +358 (0)204 75 4226 Sender: KONE Corporation Jukka Ala-Mello Secretary to the Board Minna Mars Senior Vice President, Corporate Communications & IR