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.