KCI Konecranes acquires own shares

The Annual General Meeting granted on 7 March, 2002 the Board of Directors of KCI Konecranes International Plc the authorisation to repurchase the Company's own shares. In accordance with the authorisation, the Board of Directors resolved to start no earlier than on 22 August 2002 to repurchase the Company's own shares. The repurchase of shares will continue until further notice.

The Board's authorisation is limited to a maximum of 5% of the outstanding shares of the Company. The total number of shares being 15,000,000 the maximum number of shares covered by the authorisation is 750,000 shares. However, in the repurchase of the Company's own shares the provisions of the Companies Act regarding the maximum number of shares that the Company is allowed to hold must be taken into consideration. As the Company now holds 300,000 of the Company's own shares, a maximum of 450,000 can be repurchased.

The Company's own shares may be repurchased to be used by the Company as consideration in possible acquisitions and other arrangements or to implement incentive programs for the Company's key personnel or to develop the capital structure of the Company or to be otherwise disposed of or to be cancelled.

The repurchase of shares will be executed at the going market price in public trading on the Helsinki Exchanges.

For further information, please contact:
Teuvo Rintamäki, Chief Financial Officer, tel. +358-20 427 2040
Stig Gustavson, President & CEO, tel. +358-400 411 119