Elcoteq SE (HEL:ELQAV) Elcoteq Concludes Personnel Negotiations In Finland

Elcoteq SE (HEL:ELQAV) Elcoteq SE Stock Exchange Release January 20, 2009 at 9:30 am (EET)

The personnel negotiations concerning Elcoteq SE, Finnish Branch and Elcoteq Finland Oy have been concluded. As a result of these negotiations the companies have decided to make altogether 30 people redundant on financial and production grounds. Out of the total number, 5 are salaried employees and 25 are senior salaried employees. In the beginning of the negotiations, the estimated total number of reductions was 50. After these decisions and previously announced reductions in Salo will become effective, Elcoteq has approximately 160 employees in Finland.

The objective of these measures is to improve the Group's long-term profitability and competitiveness. The personnel negotiations in Finland are part of a restructuring plan announced January 15, 2009 that applies to the entire Group and under which altogether approximately 5,000 persons will be made redundant.

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