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Stock Exchange Release

Change in Cargotec’s Executive Committee

6/20/2006

6/20/2006 1:49 PM|

Stock Exchange Release, June 20, 2006 at 2 p.m. Finnish time

Olli Isotalo (47) has been appointed President of Cargotec's MacGREGOR business area providing marine cargo handling solutions starting from September 15, 2006. Olli Isotalo is currently President of Bromma, the spreader business belonging to Cargotec's Kalmar business area. Hans Pettersson, current President of MacGREGOR has announced he will resign from his position and transfer during September to another company.

"Hans Pettersson has done an excellent job in restructuring MacGREGOR during the past five years and building its operations to its current stage. I would also like to thank Hans for his contribution during the past year in the acquisitions made to further strengthen Cargotec's presence in marine cargo handling. His successor Olli Isotalo has successfully run Bromma operations with strong, profitable growth while renewing its production setup and establishing a strong foothold in Asia. He has strong qualifications to develop MacGREGOR further", states Cargotec's President and CEO Mikael Mäkinen.

Olli Isotalo, M.Sc.(Eng.), has been President of Bromma since 2003. He has worked within Cargotec since 1993. His photo and CV are available on Cargotec's web pages at www.cargotec.com.

Sender:
Cargotec Corporation

Kari Heinistö
Senior Executive Vice President and CFO

Eeva Mäkelä
SVP, IR and Communications

For further information, please contact:
Mikael Mäkinen, President and CEO, tel. +358 204 55 4243
Eeva Mäkelä, SVP, IR 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 7,700 people and has activities in more than 160 countries. Cargotec's class B shares are listed on the Helsinki Stock Exchange.

www.cargotec.com