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Stock Exchange release

Cargotec Corporation’s Extraordinary Shareholders’ Meeting: Review by President Carl-Gustaf Bergström

7/12/2005

7/12/2005 12:57 PM|

July 12, 2005

In Cargotec Corporation's Extraordinary Shareholders' Meeting starting at 2.00 p.m. today President Carl-Gustaf Bergström will review the Company's development during the first half of the year, January-June 2005 pro forma. "Net sales for the first half of the year amounted to approximately 1.15 billion euros. The market situation continued very good in all our three business areas. As we estimated in early May after the first quarter, the value of orders received during the second quarter remained below the exceptionally high level of the previous year. However, we are very satisfied with the 1.2 billion euros achieved in January-June," President Bergström notes.

In addition, President Bergström states he is pleased with the Company's successful stock exchange listing. "This first Cargotec shareholders' meeting is a significant step in the extensive work that has been undertaken during the past year in order to build a new, independent listed company. We will continue the determined development of the Company with the Board of Directors to be elected today," Carl-Gustaf Bergström concludes.

More detailed information on Cargotec's January-June result will be published on July 19, 2005, as earlier announced.

Sender:
Cargotec Corporation

Kari Heinistö
Senior Executive Vice President and CFO

Eeva Mäkelä
SVP, Investor Relations and Communications

For further information, please contact:
Carl-Gustaf Bergström, President, tel. +358 204 55 4253
Eeva Mäkelä, SVP, IR and Communications, tel. +358 204 55 4281

Cargotec Corporation is the world's leading provider of cargo-handling solutions for ships, ports, terminals and local distribution. Its three business areas, Kalmar, Hiab and MacGREGOR operate in materials hubs. Net sales of Cargotec were approximately EUR 1.9 billion in 2004 and the company has approximately 7,300 employees in over 140 countries. Cargotec's shares are listed on the Helsinki Stock Exchange.

www.cargotec.com