KONECRANES SELLS THE HOIST DISTRIBUTION BUSINESS OF THE JAPANESE SUBSIDIARY MHS KONECRANES TO KITO

Konecranes sells the hoist distribution business of the Japanese subsidiary MHS
Konecranes to Kito 

MHS Konecranes (“MHS”) and Kito have today entered into a definitive agreement
concerning the business transfer through asset purchase. Based on this
agreement, Kito will purchase the necessary assets related to the hoist
business of MHS, and continue the hoist and related spare parts business
currently operated by MHS. The transfer of the assets is expected to be
finalized November 1, 2010. The transaction relates to the strategic alliance
signed March 23, 2010, between Konecranes and Kito. 

As part of the strategic alliance announced March 23, 2010, Konecranes and Kito
signed a Memorandum of Understanding according to which Konecranes intends to
sell the hoist distribution business of its Japanese joint venture MHS
Konecranes to Kito. As a preparation for this transaction, Konecranes on June
4, 2010, finalized the agreement to increase its ownership in MHS Konecranes to
100 percent by acquiring the remaining 35 percent stake from Meidensha
Corporation. 

After the sale of MHS' hoist distribution business to Kito, Konecranes will
continue its end-user customer business in Japan as a supplier of cranes and
crane service to local customers. 

The parties have agreed not to disclose the transaction price. The transaction
is not expected to have any material impact on Konecranes' results. 

Further information:
Press
Mikael Wegmüller, Vice President, Marketing & Communications
E-mail: mikael.wegmuller@konecranes.com or phone +358 20 427 2008

Investors and Analysts:
Miikka Kinnunen, Director, Investor Relations
E-mail: miikka.kinnunen@konecranes.com or phone +358 20 427 2050

This press release is available on our website, www.konecranes.com.

Konecranes is a world-leading group of Lifting Businesses™, serving a broad
range of customers, including manufacturing and process industries, shipyards,
ports and terminals. Konecranes provides productivity-enhancing lifting
solutions as well as services for lifting equipment and machine tools of all
makes. In 2009, Group sales totaled EUR 1,671 million. The Group has 9,600
employees, at 545 locations in 43 countries. Konecranes is listed on NASDAQ OMX
Helsinki Ltd (symbol: KCR1V).