ELCOTEQ SE
Stock Exchange Release       
October 24, 2007 at 8.45 am (EET)
 
The Board of Directors of Elcoteq SE has decided to approve an incentive plan for the motivation and commitment of the company's key personnel by means of a share subscription plan.
 
The potential reward from the plan is based on reaching the targets set by the Board of Directors for the Group's consolidated income before taxes for the full year 2008. Based on the achieved targets the company would issue a maximum of 1,500,000 new series A shares of which 50% would be issued during March 2009 and the remaining 50% during November 2009.
 
The new series A shares, if any, will be issued under the authorization granted to the Board of Directors by the Annual General Meeting on March 22, 2007. The same meeting decided to transfer the company domicile to the Grand Duchy of Luxembourg which takes place on January 1, 2008. Therefore, it is foreseen that the issue of new series A shares due to the share subscription plan in 2009 will be carried out under Luxembourg law and in accordance with the new Articles of Association of Elcoteq SE approved at the Annual General Meeting of March 22, 2007.
 
Enclosure: Terms and Conditions of the Share Subscription Plan 2007
 
ELCOTEQ SE
 
Tuula Hatakka
Senior Vice President, Treasury, Communications and Investor Relations
 
Further information:
Tuula Hatakka, tel. +358 10 413 1808
 
About Elcoteq
Elcoteq SE is a leading electronics manufacturing services (EMS) company with original design manufacturing (ODM) capabilities in the communications technology field. Elcoteq provides global end-to-end solutions consisting of product development, NPI, manufacturing, supply chain management, and after-sales services for the whole lifecycle of its customers' products. These products include terminal products such as mobile phones and set-top boxes as well as communications network equipment such as base-stations, tower-top amplifiers, and microwave systems. The company operates in 16 countries on four continents and employs some 23,000 people. Elcoteq's consolidated net sales for 2006 totaled 4.3 billion euros. Elcoteq SE is listed on the Helsinki Stock Exchange.  For more information visit the Elcoteq website at www.elcoteq.com.

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