KONE Corporation, press release, October 10, 2012

KONE has been awarded a contract by EE Cruz and Tully Construction to supply nine heavy-duty transit escalators as part of the New York City Transit Authority`s (NYCTA) Second Avenue subway project. The new subway station at 96th Street and Second Avenue is part of a plan to reduce overcrowding and delays on the Lexington Avenue line and provide better access for residents of the far East Side of Manhattan.

A total of nine heavy-duty transit escalators will be installed to ensure safe and smooth People Flow at the station where an estimated 200,000 passengers will pass through daily. The escalators are specifically designed to meet the heavy use and demanding conditions of public transportation. In addition, each escalator will feature an energy-efficient sleep mode which reduces the escalator`s speed when no passengers are travelling, allowing the NYCTA to minimize total energy consumption during inactive periods.

"We are pleased to continue providing our expertise in the mass transit market and eco-efficient escalator solutions to New York City`s subway system," said Larry Wash, EVP and Area Director of KONE Americas. "We know our products will continue to provide NYCTA passengers with a reliable, safe and energy-efficient travel experience."

The company`s last NYCTA project was awarded in 2011. For this job, KONE provided nine heavy-duty transit escalators and two inclined elevators for the new subway station at 34th Street and Eleventh Avenue, part of the 7 Subway Extension. Passenger train service to the new station is scheduled for June 2014.

KONE will install the escalators during the second phase of the station`s construction. The project is expected to be complete by January 2017. The order was booked in the second quarter of 2012.

For further information, please contact:

Anne Korkiakoski, EVP, Marketing & Communications, KONE Corporation, tel. +358 204 75 4775

Kellie Lindquist, Marketing Manager, KONE Inc., tel. +1 630 955 4202

Previous press releases on KONE`s orders in the mass transit market in the U.S. are available at http://www.kone.com including: - March 5, 2012, KONE awarded escalator project at Washington, D.C.`s Historic Union Station - October 12, 2011, KONE awarded project at New York City Subway Station

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KONE to deliver eco-efficient escalators to New York City subway station