KONE and HP Signed Global Infrastructure Services Agreement

Feb 28, 2006, KONE and HP have signed a seven-year agreement concerning IT infrastructure services. Under this agreement, HP will consolidate and maintain KONE’s servers and local area networks, operate help desks, and harmonize desk-top computing environments in KONE’s global network. According to the terms of the agreement, approximately 100 KONE Global Information Services employees will move to HP worldwide.

“Partnership with HP enables us to focus on our core activities and, through the economies of scale provided by a globally operating partner, improve our productivity”, says Juho Malmberg, Executive Vice President, Development, KONE.

KONE’s most extensive IT operations are located in Belgium and Finland. The transition is to be finalized by the end of June 2006.

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KONE is one of the world’s leading elevator and escalator companies. It provides its customers with industry-leading elevators and escalators and innovative solutions for their maintenance and modernization. KONE also provides maintenance of automatic building doors. KONE has annual net sales of approximately EUR three billion and about 27,000 employees. Its class B shares are listed on the Helsinki Stock Exchange. More information about KONE is available at www.kone.com.

HP is a technology solutions provider to consumers, businesses and institutions globally. The company’s offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended Jan. 31, 2006, HP revenue totaled $87.9 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at www.hp.com.

Contact Information

Juho Malmberg

Executive Vice President, Development

KONE Corporation

Contact via E-mail