KONE and Schindler settle patent dispute and KONE receives a license to Schindler's RFID call input patents

August 17, 2012

KONE Corporation, press release, August 17, 2012

KONE and Inventio AG, a company of the Schindler Group, have signed a settlement agreement regarding Inventio's patent family related to RFID call input technology for elevators, including EP Patent No. 699 617, US Patent No. 5,689,094 and others (the "Patents").

The parties reached the agreement on their dispute over the use of the Patents prior to initiating patent litigation in the matter. The settlement agreement provides KONE a license to use the Patents in its operations worldwide against an agreed consideration. The specific terms of the agreement are confidential.

For further information, please contact:
Anne Korkiakoski, EVP, Marketing & Communications, KONE Corporation, tel. +358 204 75 4775

About KONE
KONE is one of the global leaders in the elevator and escalator industry. The company has been committed to understanding the needs of its customers for the past century, providing industry-leading elevators, escalators and automatic building doors as well as innovative solutions for modernization and maintenance. The company's objective is to offer the best People Flow® experience by developing and delivering solutions that enable people to move smoothly, safely, comfortably and without waiting in buildings in an increasingly urbanizing environment. In 2011, KONE had annual net sales of EUR 5.2 billion and on average 35,000 employees. KONE class B shares are listed on the NASDAQ OMX Helsinki Ltd in Finland.