Cramo Plc Investor News 22 December 2008, at 11.15 am Finnish time (GMT+2) Cramo buys out the minority shareholder Rentakran in the joint venture company Cramo Rentakran in Moscow In August 2007, Cramo Plc established a 75%/25% joint venture in Moscow together with ZAO Rentakran. The parties have now agreed to terminate the shareholders' agreement. Cramo will use its call option to redeem the 25% minority share from Rentakran. Subsequently Cramo Rentakran will be re-named, excluding “Rentakran” from the company name. New forms of cooperation have been agreed with ZAO Rentakran. Currently Cramo operates in Russia with a total of seven own depots in Saint Petersburg, Moscow and Yekaterinburg, and will focus on implementing the full Cramo concept throughout its operations. CRAMO PLC Vesa Koivula President and CEO Further information Vesa Koivula, President and CEO, tel. +358 40 510 5710 Jarmo Laasanen, Senior Vice President, tel. +358 50 500 0541 Distribution NASDAQ OMX Helsinki Ltd. Major media www.cramo.com Cramo is a service company specialising in construction machinery and equipment rental and rental-related services, as well as the 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 approximately 300 depots. With a group staff of 2.600, Cramo's consolidated sales in 2007 totalled EUR 496 million and Cramo shares are listed on the NASDAQ OMX Helsinki Ltd. For further information, please visit www.cramo.com.
Cramo buys out the minority shareholder Rentakran in the joint venture company Cramo Rentakran in Moscow
| Source: Cramo Oyj