Elcoteq's New Action Plan Proceeds- New Customer-centric Organization

With the new organization, Elcoteq aims to improve its ability to respond to its customers' developing needs in all business areas. In addition, the aim is to clarify responsibilities, speed up decision-making and improve Elcoteq's cost structure in an increasingly competitive situation. The new organization consists of Group functions and three business areas that operate as profit centers, namely Personal Communications, Home Communications and Communications Networks. Group functions will support the business areas by ensuring that the operating model is globally consistent and that synergies between the business areas are utilized as efficiently as possible. The business areas will be responsible for their own customer accounts and operations related to these as well as supply chain management, and will continue to develop their businesses and service offering in their own business area. As of January 1, 2008, the Elcoteq Management Team (EMT) will comprise the following persons: Mr. Jouni Hartikainen, President and CEO; Mr. Jukka Jäämaa, Chief Operating Officer (COO) and Deputy CEO; Mr. Mikko Puolakka, Chief Financial Officer (CFO); Mr. Anssi Korhonen, President, Personal Communications; Mr. Vesa Keränen, President, Home Communications; Mr. Tommi Pettersson, President, Communications Networks. All members of the Elcoteq Management Team will report to President and CEO Jouni Hartikainen. The areas of responsibility of the Elcoteq Management Team's members are as follows: Jukka Jäämaa: group level operations, sourcing, human resources as well as quality and processes. Mikko Puolakka: group level business control and accounting, treasury and investor relations, corporate responsibility and corporate relations, risk management and security. Anssi Korhonen: Personal Communications business area. Vesa Keränen: Home Communications business area. Tommi Pettersson: Communications Networks business area. In addition the following functions report to President and CEO: legal affairs, corporate development as well as marketing and communications.