The approval of the competition authorities in Finland and several other countries has been received. The Industri Kapital 1997 Fund, Partek Corporation, part of the Kone Group and the management of Paroc have on 12 February 2003 finalised the sale of Paroc Group Oy Ab to a Finnish holding company owned by a fund administered by Banc of America Equity Partners.

Further information

Michael Rosenlew, Director, Industri Kapital, tel. +46-8-6789500

Peder Biese, President and CEO, Paroc Group, tel. +358-204-55-4868

12 February, 2003