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KONE deepens MTR partnership - KONE wins two metro extension projects in Hong Kong

KONE Corporation, press release, December 14, 2011

KONE has been selected by MTR Corporation to provide 49 elevators, 79 heavy-duty escalators and four autowalks for the new South Island Line (East) and the Kwun Tong Line Extension projects in Hong Kong. These eco-efficient and reliable solutions will improve the People Flow at seven new stations.

KONE's elevators come equipped with regenerative drives, which convert braking energy into electrical current that can be used by other applications in the stations or to drive other elevators. Regenerative drives can recover up to 35 percent of an elevator's total energy consumption. KONE's heavy-duty escalators are ideal to meet the People Flow demands of mass transit and several will also be equipped with KONE's regenerative solution.

"This is definitely a milestone achievement for KONE in Hong Kong. Our commitment to offer the best People Flow experience has developed a strong bond with MTR. I am delighted that our working relationship with MTR continues with these additional projects," says Noud Veeger, EVP and Area Director of KONE Asia Pacific.

The South Island Line (East) is a medium-capacity railway connecting the MTR network at Admiralty to the Southern District of Hong Kong, via four new stations. The Kwun Tong Line Extension extends the existing line to commuters in the Ho Man Tin, Hung Hom and Whampoa areas not yet served by rail service. Installation of KONE's solutions will begin in 2012 and will last through 2014. Both railway lines will be completed in 2015.

This contract follows on KONE's success in supplying the elevators and escalators for the West Island Line project the Express Rail Link and elevators for the Express Rail Link. KONE currently maintains more than 1,000 elevators and escalators in the existing MTR network.

The order was booked in Q4 of 2011.

For further information, please contact:
Anne Korkiakoski, EVP, Marketing & Communications, KONE Corporation, tel. +358 204 75 4775

Previous press releases on KONE's orders in Hong Kong are available at www.kone.com/press including
- October 10, 2011, KONE partnership with MTR - KONE wins an order for Hong Kong's Express Rail Link
- December 22, 2010, KONE wins an order for Hong Kong metro extension

About KONE
KONE is one of the global leaders in the elevator and escalator industry. The company has been committed to understanding the needs of its customers for the past century, providing industry-leading elevators, escalators and automatic building doors as well as innovative solutions for modernization and maintenance. The company's objective is to offer the best people flow experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. In 2010, KONE had annual net sales of EUR 5 billion and approximately 33,800 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.

www.kone.com

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