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KONE Corporation, press release, July 2, 2012

KONE has been awarded an order to deliver 67 eco-efficient elevators and 82 escalators to THE HUB in Shanghai. THE HUB, developed by Shui On Land, is designed to be a new landmark as well as a business and lifestyle hub serving the entire Hongqiao commercial zone and the 75 million people who live within the high speed railway's one-hour catchment. THE HUB encompasses 380,000 square meters of floor space including an exhibition center, four office buildings, a five-star hotel and an entertainment village THE HUB will have China's first shopping center to be connected a transportation hub.

The order includes 67 KONE S MonoSpace® elevators, which have achieved excellent A-class energy efficiency ratings in measurements performed by independent third parties. There will also be 78 KONE TravelMaster(TM) and four KONE TransitMaster(TM) escalators, and the KONE E-Link monitoring system.  Together these will ensure the smooth People Flow® of millions of people coming to work, shop, eat, relax and be entertained.

"We are proud to offer our People Flow® expertise and in such a large-scale project with so many user groups," says William B. Johnson, EVP and Area Director of KONE Greater China.

Developing the commercial district of Hongqiao is one of Shanghai's urban development schemes. The developer of THE HUB is Shui On Land, a property development company in mainland China with a proven track record in developing large-scale, master-planned mixed-use redevelopment projects in city centers. The master plan was created by Benwood Studio and the architect is Palmer and Turner Architects & Engineers Ltd.

The order was booked in the second quarter of 2012.

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