Conversion of Elcoteq´s Unlisted Series K Founders´ Shares into Series A Shares

Elcoteq SE Stock Exchange Release July 20, 2010 at 16.50 pm (EET) A total of 105,770,000 Elcoteq SE´s series K founders´ shares owned by the three founder shareholders of the company, Mr. Antti Piippo, Mr. Henry Sjöman and Mr. Jorma Vanhanen, have been converted into Series A shares in accordance with the Article 18 of the Articles of Association of the Company. The conversion took place at a ratio of ten series K founders´ shares to one series A share, i.e. the total number of series A shares grew by 10,577,000 from 22,362,185 to 32,939,185. In conformity with article 14 of the Transparency Law dated 11 January 2008 and the CSSF regulation, it is stated that the total number of exercisable voting rights is now 32,939,185 A shares. After the conversion Mr. Piippo, Mr. Sjöman and Mr. Vanhanen hold in total 13,452,862 Series A shares, which corresponds to 40.85% ownership in the Company. The conversion reduced the total voting share of Mr. Piippo, Mr. Sjöman and Mr. Vanhanen from 84.81% to current 40.85% (respectively 21.39%, 9.61% and 9.85%). After the conversion the Company has only one series of shares, the series A shares, that are listed on the Nasdaq OMX Helsinki under ticker symbol ELQAV. The conversions will be entered in the Trade Register during the forthcoming weeks after which the trading in the now converted Series A shares can commence on Nasdaq OMX Helsinki. The exact date will be announced separately. ELCOTEQ SE Satu Jaatinen Director, Corporate Communications and IR Further information: Mikko Puolakka, CFO, tel. +358 10 413 1287 About Elcoteq Elcoteq SE is the global Life Cycle Service Partner for high-tech product and service companies. Engineering, Manufacturing, Fulfillment and After Market Services are the cornerstones of Elcoteq's extensive service offering. Elcoteq has a proven track record in electronics manufacturing services (EMS) and a global factory network coupled with modern manufacturing equipment and consistent systems and processes. Products include Consumer Electronics devices such as mobile phones and their accessories, set-top boxes, LED lamps and luminaires, flat panel TVs as well as System Solutions products such as infrastructure systems, modules and other industrial segment products. The Group's consolidated net sales for 2009 totaled 1.5 billion euros and it employs approximately 10,000 persons. Elcoteq SE is listed on the Nasdaq OMX Helsinki Ltd.  For more information visit the Elcoteq website at [HUG#1432898] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Elcoteq SE via Thomson Reuters ONE