Cargotec Corporation, Stock Exchange Release, November 21, 2008 at 10:15 a.m. Finnish time Axel Leijonhufvud (47) has been appointed Senior Vice President, Product Supply, starting from January 1, 2009. He will be a member of the Executive Board and will report to Mikael Mäkinen, President and CEO of Cargotec. Axel Leijonhufvud works currently as Vice President, Product Supply, Kalmar, and is Chairman of Kalmar's RTCH (Rough Terrain Container Handling) board at Cargotec Corporation. Lauri Björklund (55), Senior Vice President, Production and Purchasing, has been appointed Senior Vice President, Corporate Development Projects as of 1 January 2009. In his new role he will not be a member of the Executive Board, but will continue to report to Mikael Mäkinen."Cargotec has created a new supply strategy, according to which the product supply will be strengthened in Asia, Americas and Central Eastern Europe to better meet the customer base development. Most of the synergies between the current business areas' supplies and Cargotec sourcing organisations can be found in global sourcing, in building new production units to new markets and in running the common multi-assembly units. Axel Leijonhufvud has done an excellent job in developing Kalmar's supply based on global multi-assembly units and I am very pleased that we can use his experience to speed up the development of Cargotec's supply", says Cargotec's President and CEO Mikael Mäkinen. Before joining Cargotec Corporation in 2007, Axel Leijonhufvud, M.Sc. (Mechanical engineering) has built strong expertise in global manufacturing with Ruukki Engineering, Weibulls, Saint-Gobain Isover and ABB. His photo and CV are available on Cargotec's web pages at www.cargotec.com. More information for the press: Mikael Mäkinen, President and CEO, tel. +358 (0)204 55 4262 Axel Leijonhufvud, Senior Vice President, Product Supply, tel. +46 372 37 8170 More information for the investors: Paula Liimatta, IR Manager, tel. +358 (0)204 55 4634 Cargotec improves the efficiency of cargo flows by offering handling systems and the related services for the loading and unloading of goods. Cargotec's brands, Hiab, Kalmar and MacGREGOR, are global market leaders in their fields and their solutions are used on land and at sea - wherever cargo is on the move. Extensive services close to customers ensure the continuous usability of equipment. Cargotec is the technology leader in its field, its R&D focusing on innovative solutions that take environmental considerations into account. Cargotec's sales exceed EUR 3 billion and the company employs approximately 12,000 people. Cargotec's class B shares are quoted on the NASDAQ OMX Helsinki. www.cargotec.com