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Press Release

Cargotec Shares Subscribed with Option Rights

23/12/2005

A total number of 41,475 class B shares have been subscribed with Cargotec option rights that were granted as part of the demerged Kone Corporation's year 2004 option program. Shares were subscribed with 5,485 class A option rights and 8,340 class B option rights. The subscriptions increase Cargotec's share capital by 41,475 euros. The share capital increase has been entered in the trade register on December 23, 2005 and trading in the shares together with the old shares will begin on December 27, 2005.
 
Cargotec's share capital after the increase totals 63,920,955 euros. The amount of class B shares after the subscription is 54,394,866 shares. The number of class A shares remains unchanged at 9,526,089 shares. The new shares will entitle to all shareholder rights from the registration date December 23, 2005.
 
Each Cargotec option right entitles the holder to subscribe for three (3) Cargotec class B shares. The share subscription price according to the terms of the option program was 8.59 euros per share. After this share capital increase, a total of 488,055 class B shares remain to be subscribed for with A and B options, which corresponds to a share capital increase of 488,055 euros.