Elcoteq SE (HEL:ELQ1V) Elcoteq Concludes Personnel Negotiations In Salo

Elcoteq SE (HEL:ELQ1V) Elcoteq SE Stock Exchange Release November 25, 2008 at 3 pm (EET)

The personnel negotiations in Elcoteq SE's unit in Salo have been concluded. As a result of these negotiations the company has decided to close the entire production in the unit working for Elcoteq's Personal Communications Business Area. This decision affects all the people working in the unit. Altogether 36 people will be made redundant on financial and production grounds.

The production in the Salo unit will cease by the end of March 2009. The termination of the employments will happen gradually according to closing timetable of production starting on Wednesday November 26, 2008.

Personnel of the PDS (Product Development Services) in Salo was not affected.

The closure of the Salo unit is connected to the changes in the product portfolio of Elcoteq's Personal Communications Business Area. After the closure, Elcoteq has approximately 200 employees in Finland. The number of personnel worldwide is roughly 21,400.

ELCOTEQ SE

Minna Aila Director, Investor Relations and Corporate Responsibility

Further information:

Markus Kivimäki, SVP, Legal Affairs, tel. +358 10 413 1248 Minna Aila, Director, Investor Relations and Corporate Responsibility, tel. +358 10 413 1908

About Elcoteq Elcoteq SE is a leading electronics manufacturing services (EMS) company in the communications technology field. Elcoteq's global service offering covers the entire lifecycle of products, from product development to after market services. By further combining mechanics expertise into its service offering, Elcoteq's vision is to be a leading integrated electronics manufacturing services (IEMS) company. Elcoteq provides global end-to-end solutions consisting of product development services, supply chain management, NPI, manufacturing, and after market services for the whole lifecycle of its customers' products. These products include Personal Communications products such as mobile phones and their parts, Home Communications products such as set-top boxes and electronics for flat panel TVs as well as Communications Networks products such as base-stations, tower-top amplifiers, and microwave systems.

Elcoteq operates in 15 countries on four continents and employs some 21,000 people. The Group's consolidated net sales for 2007 totaled 4.0 billion euros. Elcoteq SE is listed on the Nasdaq OMX Helsinki Ltd. For more information visit the Elcoteq website at www.elcoteq.com.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Elcoteq SE

http://www.elcoteq.com

ISIN: FI0009006738

Stock Identifier: XHEL.ELQAV