Extraordinary General Meeting

STOCK EXCHANGE RELEASE 3 January 2006, at 4.00 pm

DECISIONS BY EXTRAORDINARY GENERAL MEETING OF RAKENTAJAIN KONEVUOKRAAMO OYJ AND CONSUMMATION OF COMBINATION OF RAKENTAJAIN KONEVUOKRAAMO OYJ AND CRAMO HOLDING BV

Rakentajain Konevuokraamo Oyj and Cramo Holding BV entered on 18 October 2005 into a combination agreement, according to which Rakentajain Konevuokraamo Oyj intends to acquire all shares issued by Cramo Holding BV through a share exchange. As a result of the share exchange, Cramo Holding BV will become a wholly owned subsidiary of Rakentajain Konevuokraamo Oyj.

The extraordinary general meeting of Rakentajain Konevuokraamo Oyj has made
today the following decisions related to the combination:

– The general meeting approved the lowering of the share capital through
decreasing the accounting par value of the share;
– The general meeting approved the combination of the A and B share classes of
Rakentajain Konevuokraamo Oyj, the amendment to the Articles of Association
related thereto and the share issue targeted to the class A shareholders;
– The general meeting approved the share issue targeted to the shareholders of
Cramo Holding BV;
– The general meeting elected the following persons as members of the board of
directors: Phil van Haarlem, Eino Halonen, Pekka Heusala, Gunnar Glifberg,
Stig Gustavson, Hannu Krogerus and Juhani Nurminen.

A. Lowering of Share Capital

The general meeting decided to lower the share capital of the company through
lowering of the accounting par value of the share in accordance with Chapter
6, Section 1 of the Companies Act. The amount of the reduced share capital
will be transferred to the non-tied equity of the company.

The general meeting decided to lower the share capital by decreasing the
accounting par value of all the shares in the company without payment by an
amount of EUR 0.88, i.e. from EUR 1.69 to EUR 0.81. As regards the class A
shares of the company, the reduction of the share capital in the company
amounts to EUR 1,520,640, and for class B shares EUR 11,098,390.16. As a
result of the lowering of the share capital, the share capital of EUR
24,234,273.83 of the company, as registered on 3 January 2006, will lower to
EUR 11,615,243.67. The decrease in the share capital will not have an impact
on the number of the shares issued by the company. The general meeting has
also decided that simultaneously with the lowering of the share capital, the
share capital shall be increased with a total amount of EUR 12,697,312.14 by
issuing new shares, the amount of which exceeds the amount of lowered share
capital. The restricted equity of the company shall not decrease as a result
of the decided lowering and the related increase of the share capital.

B. Combination of Share Classes, Amendment of Articles of Association and
Share Issue Targeted to Class A Shareholders

The general meeting decided on the combination of the share classes in the
company through abolishing the differences between class A and class B shares
in the Articles of Association and through combining the class A and class B
shares to form one share class. The class A shares will be converted into
class B shares (one class B share in exchange for one class A share).
Furthermore, the class A shareholders will be offered, by deviation from the
pre-emptive right of subscription of the shareholders, the right to subscribe
one new share with an accounting par value of EUR 0.81 in exchange for 2.5
class A shares as compensation for the decrease in the higher voting rights.
Any fractions of the shares resulting from the subscription shall be rounded
down to the nearest whole number.

In connection with the above, the general meeting decided to raise the share
capital of the company by a maximum of EUR 559,872 through offering a maximum
of 691,200 new shares in the company, with an accounting par value of EUR
0.81, to be subscribed by the shareholders of class A shares.

All the shares were subscribed immediately after the general meeting.
The subscriptions were paid in connection with the subscription.

As a result of the combination of the share classes and the related targeted
issue, the shares in Rakentajain Konevuokraamo Oyj and the rights yielded by
them will change so that the company will have only one share class listed in
the Helsinki Stock Exchange. After the combination, all the shares in the
company will yield the same rights.

In connection with the combination of the share classes, the general meeting
decided to amend the title III and the underlying article 4 of the Articles of
Association as follows:

III Share Capital and shares

“The Company has a minimum of 2,000,000 shares and a maximum of 44,000,000
shares. The Company’s shares have no nominal value.”

C. Share Issue Targeted to Shareholders of Cramo Holding BV

The general meeting decided to consummate the combination with Cramo Holding
BV through a share exchange so that in the targeted issue, each shareholder of
Cramo Holding BV is entitled to subscribe shares in the company and shall pay
the subscription through a transfer of shares owned and controlled by it in
Cramo Holding BV to Rakentajain Konevuokraamo Oyj. The new shares will be
subscribed, with conditions concerning capital contribution, so that a
shareholder of Cramo Holding BV, who subscribes for new shares in Rakentajain
Konevuokraamo Oyj, will receive a total of 7,492.2535 new shares in
Rakentajain Konevuokraamo Oyj in exchange for one (1) share in Cramo Holding
BV.

In connection with the above, the general meeting decided to raise the
company’s share capital by a minimum of EUR 1 and by a maximum of EUR
12,137,450.67 by a new issue consummated through a targeted issue, by
offering, deviating from the pre-emptive subscription right of the
shareholders, a minimum of one and a maximum of 14,984,507 new shares in the
company, with an accounting par value of EUR 0.81, to be subscribed by the
shareholders of Cramo Holding BV.

All the shares were subscribed immediately after the general meeting.
The subscriptions were paid in connection with the subscription.

D. Composition of Board of Directors

In the general meeting, following persons were elected to the Board of
Directors:

– Mr. Pekka Heusala, born 1946
– Mr. Eino Halonen, born 1949
– Mr. Juhani Nurminen, born 1939
– Mr. Hannu Krogerus, born 1949
– Mr. Phil van Haarlem, born 1944
– Mr. Gunnar Glifberg, born 1943
– Mr. Stig Gustavson, born 1945.

In the organization meeting following the general meeting, the Board of
Directors elected Mr. Pekka Heusala as Chairman of the Board.

COMBINATION OF RAKENTAJAIN KONEVUOKRAAMO OYJ AND CRAMO HOLDING BV WILL BE CONSUMMATED

The combination of Rakentajain Konevuokraamo Oyj and Cramo Holding BV was
subject to certain conditions, i.a. the conclusion of the above decisions by
the general meeting. The extraordinary general meeting of Rakentajain
Konevuokraamo Oyj made today the decisions required by corporate law in order
to consummate the share exchange offer, the related raise in the share capital
of Rakentajain Konevuokraamo Oyj and other measures related to the
combination. All shareholders in Cramo Holding BV have approved the share
exchange offer made by Rakentajain Konevuokraamo Oyj.

Rakentajain Konevuokraamo Oyj and Cramo Holding BV have today jointly
confirmed that the requirements for the consummation of the combination set
forth in the combination agreement have been fulfilled, and thus the share
exchange and the simultaneous combination will be consummated.

By way of approving the subscription of shares made in the share exchange
offer of Rakentajain Konevuokraamo Oyj, Rakentajain Konevuokraamo Oyj will own 100 percent of all the shares of Cramo Holding BV and of the votes yielded by
all shares as of 3 January 2006. Thus, Cramo Holding BV has become a
subsidiary of Rakentajain Konevuokraamo Oyj.

The raise in the share capital of Rakentajain Konevuokraamo Oyj related to the
share exchange offer as well as other changes related to the share capital of
Rakentajain Konevuokraamo Oyj approved by the extraordinary general meeting
held on 3 January 2006 will be registered on 4 January 2006, as estimated,
when share capital of Rakentajain Konevuokraamo Oyj will be raised by a total
of EUR 12,697,312.14. After the registration of this raise, the registered
share capital of Rakentajain Konevuokraamo will be EUR 24,312,555.81.

Trading of the new shares on the Main List of the Helsinki Stock Exchange will
commence on the date of registration of the raise in the share capital, as
estimated. In this connection, the trading code of shares in Rakentajain
Konevuokraamo Oyj will change. The new trading code is RAK1V.

The Financial Supervision Authority has on 21 December 2005 approved the
listing prospectus related to the acquisition of Cramo Holding BV by
Rakentajain Konevuokraamo Oyj. The listing prospectus has been available in
Finnish as of 23 December 2005 at the headquarters of the company (at the
address Kalliosolantie 2, 01740 Vantaa, Finland) and on the company’s website
(www.rk.fi), and at OMX way service point (Fabianinkatu 14, 00130 Helsinki,
Finland). The English translation of the listing prospectus has been available
as of 27 December 2005.

In connection with the transaction, Rakentajain Konevuokraamo Oyj has signed a
seven-year syndicated financing arrangement of EUR 250 million in order to
refinance the existing loans of the combining companies and for the purposes
of the company’s working capital arrangement. Nordea acted as the Mandated Lead Arranger and Sole Underwriter of the credit facility.

In Helsinki, 3 January 2006

RAKENTAJAIN KONEVUOKRAAMO OYJ

Board of Directors

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:

Mr. Pekka Heusala, Chairman of the Board of Directors, tel. +358-9-400-441312

Mr. Vesa Koivula, Managing Director, tel. +358-1066110, or +358-40-5105710

This stock exchange release may not be published or distributed in Australia,
Japan, Canada, or the United States of America.

The information contained in this release in not to be published in, or
distributed to the United States. This stock exchange release is not an offer
to sell securities in the United States or to, or for the account or benefit
of U.S. persons, and the securities referred to in the stock exchange release
may not be offered or sold in the United States, except pursuant to an
exemption from the registration requirements of the Securities Act of 1933.
The share exchange offer and the new shares in Rakentajain Konevuokraamo Oyj
will not be registered or offered publicly in the United States.

This stock exchange release is neither an offer to purchase nor a solicitation
for an offer to sell, and the shares in Rakentajain Konevuokraamo Oyj may not
be subscribed for in any country in which such an offer, solicitation or
subscription would be unlawful prior to registration, an exemption from
registration obligation or other acceptance in accordance with the securities
laws of such country.

Corporate governance statements

Corporate governance

The corporate governance at Cramo is based on Finnish law and the Company’s Articles of Association. The Group complies with the rules of Nasdaq Helsinki Ltd and the Finnish Corporate Governance Code 2015 published by the Securities Market Association. The Corporate Governance Code is available on the Securities Market Association’s website:  http://cgfinland.fi/en/. Cramo does not deviate from the Finnish Corporate Governance Code Recommendations.

The Group’s headquarters are in Vantaa, Finland and the Company is listed on the Nasdaq Helsinki Ltd.

Cramo prepares annual financial statements and interim reports conforming to Finnish law and International Financial Reporting Standards (IFRS). Statements and reports are published in Finnish and English.

Overview of Corporate Governance Components at Cramo Group

The Group’s control and management responsibilities are divided among the General Meeting of Shareholders, the Board of Directors with its two committees, and the President and CEO, the Group management team, managing directors of subsidiaries, and the General Management Meeting. The Board of Directors supervises the performance of the Company, its management and organisation on behalf of shareholders. The Board of Directors and the Group management team are separate bodies, and no one serves as a member of both.