CRAMO ACQUIRES SKANSKA'S DANISH RENTAL OPERATION Cramo A/S, the Danish wholly-owned subsidiary of Cramo Plc, has acquired Skanska Denmark's rental organisation with all personnel, existing machine fleet and related external rental contracts. Cramo estimates that the acquisition will provide an additional annual rental volume of up to a minimum of DKK 100 million (EUR 13.5 million). Related to the deal is a pan-Nordic cooperation agreement between Cramo and Skanska. The acquisition is a result of Cramo's ambition to grow in the Nordic market. At the same time, Skanska has announced their intention to divest their construction business in Denmark. "This agreement is very valuable to both parties since it will strengthen our relationship on a group level", says Göran Carlson, deputy CEO in Cramo. "The pan-Nordic agreement can add substantial volumes annually for Cramo already in the short-term. The acquisition in Denmark will accelerate Cramo's efforts to continue take an active part in the consolidation of a fairly fragmented market." 90% of the operations involved in the acquisition is related to internal rental to Skanska´s construction operations in Denmark. The business is located in Aarhus, Odense and Taastrup. The rental fleet includes a wide range of some 3.000 units. The parties have agreed not to disclose the purchase price. Cramo's operations in Denmark are growing at a high pace with six new depots being opened only in this year to a total of 16 depots. Since the acquisition of Skanska's Modular space operation Consite in 2004 and now Skanska's site huts operation, Cramo is Denmark's leading rental operator in that field. The explicit target is to become one of the two largest operators in equipment rental and rental of modular space. "The cooperation between us and Skanska has developed very positively and we know the organizations and its customers well", says Ole Wamsler, Managing Director in Cramo A/S. "Acquiring Skanska's equipment rental operation is of strategic importance to Cramo's Danish operation as it give us both equipment and specialized competencies. Especially in the field of cranes, hoists, heavy construction equipment, security equipment and multiservice. Our capacity to serve customers in the industrial and construction sector will also be approved." CRAMO PLC Vesa Koivula President and CEO Further information Göran Carlson, Deputy CEO, Cramo, tel. +46 8 623 5400 Ole Wamsler, Managing Director, Cramo A/S, tel. +45 43 20 05 56 Distribution OMX Nordic Exchange Helsinki Major media www.cramo.com Cramo Plc is a service company specialising in construction machinery and equipment rental and rental-related services, as well as rental and sale of modular space. As one of the industry's leading service providers in the Nordic countries and Central and Eastern Europe, Cramo operates in ten countries with 250 outlets. With a group staff of approximately 2,000, Cramo's consolidated sales for 2006 totalled EUR 402 million. Cramo is listed on the OMX Nordic Exchange Helsinki. For further information, please visit www.cramo.com. For more information about Cramo A/S and the Danish operation, see www.cramo.dk