Subscription of KCI Konecranes shares under 1997 bonds with warrants

Warrants under the 1997 bonds with warrants have been exercised to subscribe for 1,400 new KCI Konecranes shares. The subscription price was EUR 26,07 per share as stipulated by the terms of the bond. The subscription period under the 1997 warrants began on April 1, 2003. The issue of the 1997 Bonds with Warrants was approved by the Annual General Meeting of March 4, 1997. The terms and conditions of the bond with warrants are available on the Internet at www.kcigroup.com.

The new 1,400 shares will be recorded in the Trade Register on or about December 28, 2004. KCI Konecranes' share capital will increase by altogether EUR 2,800 as a result of the subscription, totalling EUR 28,620,060 from the date of registration. Following the increase the number of shares will total 14,310,030.

The new shares will carry shareholders’ rights from the date of registration, December 28, 2004, and KCI Konecranes will apply for their listing on the Helsinki Exchanges with the company's existing shares. Trading in these shares will start on or about December 29, 2004.

Further information can be obtained from

KCI Konecranes Plc
Teuvo Rintamäki, Chief Financial Officer
Phone +358 20 427 2040, Fax +358 20 427 2099

KCI Konecranes, headquartered in Hyvinkää, Finland is a world leading Engineering Group specialising in advanced overhead lifting solutions and maintenance services. KCI Konecranes is the world's leading supplier of heavy-duty cranes for process industries. KCI Konecranes is a global supplier of special harbour cranes for bulk materials and containers and a leading provider of shipyard cranes. In 2003, Group sales totalled EUR 665 million with 4350 employees in 34 countries all over the world.

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