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SUBSCRIPTION OF KCI KONECRANES SHARES UNDER 1997 BONDS WITH WARRANTS

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KCI KONECRANES PLC  STOCK EXCHANGE RELEASE  16 December, 2004  4.00 p.m.    1


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.

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.


KCI KONECRANES PLC


Franciska Janzon
IR Manager




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




DISTRIBUTION
Helsinki Stock Exchange
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