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Electronics Production | December 30, 2005

Stock options exercised to<br> subscribe for Elcoteq shares

A/B/C/D options under Elcoteq SE's 2001 stock option scheme have been exercised to subscribe for 179,050 new Elcoteq Series A shares between October 18 and December 14, 2005.
The share subscription price was EUR 7.19 per share, as stipulated in the option scheme's conditions. The subscription period for the A warrants under the 2001 stock option scheme began on April 1, 2002, for the B warrants on April 1, 2003, for the C options on April 1, 2004 and for the D options on April 1, 2005. The subscription period for the E warrants will begin on April 1, 2006.

The 179,050 new shares will be recorded in the Trade Register on or about December 30, 2005. Elcoteq's share capital will increase by altogether EUR 71,620 as a result of the subscription, totaling EUR 12,441,430.80 from the date of registration. Following the increase the number of A shares will total 20,526,577.

The new shares will carry dividend rights from the date of registration and Elcoteq will apply for their listing on the Helsinki Exchanges with the company's existing shares. Trading in these shares will start on or about January 2, 2006.

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