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Press Release

Cargotec Shares Subscribed with Option Rights

22/12/2006

A total number of 36,780 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 5,870 series A option rights and 6,390 series B option rights. The subscriptions increase Cargotec's share capital by 36,780 euros. The share capital increase has been entered in the trade register on December 22, 2006 and trading in the shares together with the old shares will begin on December 27, 2006.
 
Cargotec's share capital after the increase totals 64,046,460 euros. The amount of class B shares after the subscription is 54,520,371 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 22, 2006.
 
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 is 8.59 euros per share. After this share capital increase, a total of 362,550 class B shares remain to be subscribed for with series A and B option rights, which corresponds to a share capital increase of 362,550 euros.
 
Sender:
Cargotec Corporation
 
Kari Heinistö                                                    
Senior Executive Vice President and CFO  
 
Eeva Mäkelä
SVP, Investor Relations and Communications
 
For further information, please contact:
Eeva Mäkelä, SVP, Investor Relations and Communications, tel. +358 204 55 4281
 
Cargotec Corporation is the world's leading provider of cargo handling solutions, which are used in local transportation, terminals, ports, distribution centers, and ships. Cargotec's operations are divided into three strong, global business areas: Hiab, Kalmar, and MacGREGOR, each of which is the market leader in its own segment. In 2005 Cargotec's net sales exceeded EUR 2.3 billion. The company employs some 8,000 people and has activities in more than 160 countries. Cargotec's class B shares are listed on the Helsinki Stock Exchange.
 
www.cargotec.com