KONE to Supply Elevators for the Commercial Development Area at Jupiter Mills in Mumbai

KONE to Supply Elevators for the Commercial Development Area at Jupiter Mills in Mumbai

November 15, 2007

    CHENNAI, India, Nov. 14 /Xinhua-PRNewswire/ -- 

    KONE has received a major order from Indiabulls
Properties Pvt Ltd for the design, supply and installation
of 40 elevators for the Jupiter Mills high-end commercial
development area in South Mumbai in India. The project
involves the construction of two signature buildings, which
are designed by the renowned architect Hafeez Contractor.

    "This order is an important indication of KONE's
strong presence in the high-end segment in India. We are
delighted to continue participation in the re-development
of Mumbai as a modern city," says Pekka Kemppainen,
KONE EVP and Area Director for the Asia-Pacific region.

    The Jupiter Mills development is the first of its kind
in Mumbai's emerging central business district and thus
represents the start of a new phase of development in
Mumbai City. The project comprises two towers of 92 meters
and one of 84 meters. The development will include a large
central landscaped plaza, fine dining restaurants,
recreation areas and world-class office premises.

    10 of the installed elevators will be customized glass
elevators. The installation of the equipment is expected to
begin in December 2007 and to be completed in June 2008.

    KONE has been present in India since the early 1980s,
and today it is one of the leading suppliers of elevators
and escalators in the country. Earlier this year, KONE was
chosen to supply all elevators for the second phase of the
construction process of the Delhi Metro in India.

    Indiabulls Properties is a Mumbai-based real estate
company focusing on high-end commercial spaces, premium
residential developments, malls and special economic
zones.

    About KONE

    KONE is one of the world's leading elevator and
escalator companies. It provides its customers with
industry-leading elevators and escalators, with innovative
solutions for their maintenance and modernization. KONE
also provides maintenance of automatic building doors. In
2006, KONE had annual net sales of EUR 3.6 billion and
approximately 29,000 employees. Its class B shares are
listed on the OMX Nordic Exchange in Helsinki, Finland.

    http://www.kone.com


    For more information, please contact:

    KONE

     Minna Mars, SVP
     Corporate Communications & IR
     Tel: [phone] or [phone]