Elcoteq SE (HEL:ELQ1V) Elcoteq To Start Personnel Negotiations In Finland

Elcoteq SE (HEL:ELQ1V) Elcoteq SE Stock Exchange Release December 8, 2008 at 10.00 am (EET)

ELCOTEQ TO START PERSONNEL NEGOTIATIONS IN FINLAND

Elcoteq has today convened a meeting of the employee representatives of Elcoteq SE, Finnish Branch and Elcoteq Finland Oy for statutory personnel negotiations to address the possible restructuring of the company's activities in Finland and the possibility of temporary lay-offs, semi-retirement or the termination of employee contracts on production or financial grounds. In the negotiations the company will assess the means by which it will ensure the Group's long-term profitability and competitiveness.

The company estimates that the need for possible personnel reductions in Finland could apply to at most about 50 people in all employee categories. Elcoteq has currently roughly 21,000 employees worldwide, approximately 180 of whom work in Finland.

ELCOTEQ SE

Minna Aila Director, Investor Relations and Corporate Responsibility

Further information:

Mikko Puolakka, CFO, tel. +41 79 618 0302 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