Pekka Lundmark to KCI Konecranes

Stock exchange releases

The Board of Directors of KCI Konecranes Plc has appointed Mr. Pekka Lundmark, 40, M.Sc. (Eng), to the position of Group Executive Vice President, as of August 10, 2004.

The Board has further declared its intention to appoint Mr. Lundmark to the position of Group President and CEO, as the successor of Mr. Stig Gustavson, in due time.

The Board expressly states, that no decisions have been taken in relation to the timing of Mr. Gustavson’s retirement. According to Mr. Gustavson’s contract, he may retire at the age of 60, which he will reach on June 17, 2005.

Mr. Lundmark has previously held the position of President and CEO of Hackman Oyj Abp, Managing Partner of Startupfactory, as well as various executive positions at Nokia.

In a separate statement, Mr. Stig Gustavson, President and CEO, welcomes Mr. Lundmark to a KCI Konecranes in a very interesting and dynamic time. After some years of lower growth, the Group now enjoys robust growth on all sectors and on most markets. “Since the days of his work as President of Hackman, where I was the Chairman, I know Mr. Lundmark very well. I appreciate his skills in executive management, his creative mind and his integrity.” On the time for his retirement Mr. Gustavson commented, “ I have not made any definitive plans.”

KCI Konecranes will release its H1/2004 Results on Thursday, August 12, 2004 at 10.00 a.m. Mr. Lundmark will be present at the analyst and press conference held on the same day at 12.00 noon at Marski Hall at the World Trade Center in Helsinki.

Further information can be obtained from

KCI Konecranes Plc
Stig Gustavson, President & CEO, phone +358-20 427 2000
Pekka Lundmark, Group Executive Vice President, phone +358-40-8210638

This press release together with a downloadable high-resolution picture of Mr. Pekka Lundmark is available at KCI Konecranes’ website for investors www.kcigroup.com at "Latest Press Releases".

KCI Konecranes. A world leading engineering group specializing in advanced overhead lifting solutions and maintenance services. Group activity is organized along three business areas: Maintenance Services (50% of Group Sales), Standard Lifting Equipment (26 %) and Special Cranes (24 %). In 2003, Group Sales totalled EUR 665 million with over 4300 employees in 34 countries all over the world.