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Hitt og þetta 26. júlí 2006

Stock options exercised to subscribe for Elcoteq shares and increase in share capital

Elcoteq SE Stock Exchange Announcement July 26, 2006 at 8.00 am (EET)

STOCK OPTIONS EXERCISED TO SUBSCRIBE FOR ELCOTEQ SHARES AND INCREASE IN SHARE CAPITAL

A total of 80,350 options under Elcoteq SE's 2001 stock option scheme have been exercised to subscribe for 80,350 new Elcoteq Series A shares between April 19 and July 19, 2006. The share subscription price was 6.53 euros per share, as stipulated in the option scheme's conditions.

The 80,350 new shares will be recorded in the Trade Register on or about August 4, 2006. Elcoteq's share capital will increase by altogether 32,140 euros as a result of the subscription, totaling 12,587,210.80 euros from the date of registration. Following the increase the number of A shares will total 20,891,027.

The new shares will carry dividend rights from the date of registration, and Elcoteq will apply for their listing on the Helsinki Stock Exchange with the company's existing shares. Trading in these shares will start on or about August 7, 2006.

ELCOTEQ SE

Reeta Kaukiainen Director, Communications and Investor Relations

About Elcoteq: Elcoteq SE is a leading electronics manufacturing services (EMS) company with original design manufacturing (ODM) capabilities in the communications technology field. Elcoteq provides globally end-to-end solutions consisting of design, NPI, manufacturing, supply chain management and after-sales services for the whole lifecycle of its customers' products. These products include terminal products such as mobile phones and set-top boxes as well as communications network equipment such as base-stations, tower-top amplifiers and microwave systems. The company operates on four continents in 15 countries and employs approximately 22,000 people. Elcoteq's consolidated net sales for 2005 totaled 4.2 billion euros. Elcoteq SE is listed on the Helsinki Stock Exchange. More information on the company is available at www.elcoteq.com.