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Press Release

Cargotec Shares Subscribed with Option Rights

19/07/2005

A total number of 17,160 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 5,000 class B option rights and 720 class A option rights. The subscriptions increase Cargotec's share capital by 17,160 euros. The share capital increase has been entered in the trade register on July 19, 2005 and trading in the shares together with the old shares will begin on July 20, 2005.
 
Cargotec's share capital after the increase totals 63,771,915 euros. The amount of class B shares after the subscription is 54,245,826 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 July 19, 2005.
 
The share subscription price according to the terms of the option program was 8.59 euros per share.