Cramo acquires local rental operations in Norway


Cramo Plc    Investor news 14 May 2008, at 11.15 am Finnish time (GMT+2)        

Cramo acquires local rental operations in Norway                                

Cramo AS, the wholly-owned Norwegian subsidiary of Cramo Plc, has acquired the  
rental operations of Kranentreprenören AS. "This makes us an even more complete 
rental solutions provider to the construction industry," says Finn Lökken,      
Managing Director of Cramo AS.                                                  

Through the agreement, Cramo AS is acquiring Kranentreprenören's rental         
operations and rental assets, including 17 mini cranes. All employees involved  
in Kranentreprenören's rental operations are being offered similar positions at 
Cramo AS.                                                                       

Market leader in Norway                                                         
"We will continue operations in the same manner and spirit, and with the same   
personnel as before. Kranentreprenören's competencies, in combination with our  
own product range and position, will make us a stronger player.                 

With the cranes acquired, we have about 50 percent of all cranes of this type in
Norway, which makes us the market leader," says Lökken.                         

More flexibility                                                                
Lökken says that mini cranes are a very typical rental product.                 
"With our new depot, we're in a position to offer not only rental, but cranes   
with operators. This is really appreciated by customers who do not have the     
expertise to operate the cranes themselves.                                     

Mini cranes are also more flexible and less costly to operate than big          
stationary cranes. They can be used indoors as well as outdoors and can run on  
propane, diesel or electricity. So in addition to the lower cost, there are     
environmental advantages as well," says Lökken.                                 

Nationwide                                                                      
The new rental depot is located in Lindeberg, but the cranes are available all  
across Norway, according to Lökken. "There is strong growth potential in this   
area, and we will offer the cranes all over the country."                       

CRAMO PLC                                                                       

Vesa Koivula                                                                    
President and CEO                                                               

For further information                                                         
Finn Lökken, Managing Director Cramo AS, mob +47 90 77 20 88                    

Distribution                                                                    
OMX Nordic Exchange Helsinki                                                    
Major media                                                                     
www.cramo.com                                                                   

Cramo is a rental services company specialising in 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 eleven countries with 272 depots. With a group
staff of 2,300, Cramo's consolidated sales for 2007 totalled EUR 496 million and
its shares are listed on the OMX Nordic Exchange, Helsinki. For further         
information, see www.cramo.com.