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KCI KONECRANES SUBSIDIARY KCI MOTORS OY

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KCI KONECRANES PLC                  STOCK EXCHANGE RELEASE       1
                                    16 March, 2004 3.15 p.m.


KCI KONECRANES SUBSIDIARY KCI MOTORS OY TO COMPLETE MANDATORY LABOUR
NEGOTIATIONS

Labour negotiations at KCI Konecranes subsidiary KCI Motors Oy have
been completed. Approximately 65 employees will be given notice, motor
production in Hyvinkää will be phased out. The production outsourced
to Estonian subcontractor.

Since January 27, 2004 the employer and the employees have held
negotiations on how to increase the efficiency of the production of
electrical motors at the Hyvinkää manufacturing unit, and consequences
for the personnel.

Negotiations were initiated after the budgeting and long term planning
processes revealed a serious lack of competitiveness of present
operations, under market and currency conditions of today.

During negotiations the parties were unable to find solutions that
would have combined a continuation of present operations in Hyvinkää
and substantial cost reductions.

The production will be transferred to Estonia faster than originally
intended, in order to accelerate savings, and to avoid the risk for
further layoffs in other units.


KCI Konecranes is 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 %). Group Sales totalled EUR 665 million with over 4350
employees in 34 countries all over the world.

KCI KONECRANES PLC


Franciska Janzon
IR Manager


FURTHER INFORMATION
Stig Gustavson, President and CEO, tel. +358-400 411 119


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