Decisions Of Elcoteq SE's Annual General Meeting

4/28/2010, 4:01 PM (Source: GlobeNewswire)
Elcoteq SE
Stock Exchange Release
April 28, 2010 at 17.00 pm (EET)

Elcoteq SE's Annual General Meeting took place today, on April 28, 2010, in
Luxemburg. The Meeting confirmed the consolidated and parent company's income
statements and balance sheets for the financial year 2009 and discharged the
members of the Board of Directors and of the statutory auditor from liability
for the financial year.

Composition of the Board of Directors and Fees

The Meeting re-elected the following persons to the Board of Directors:
President Martti Ahtisaari; Mr. Heikki Horstia, BSc (Econ.); Mr. Eero Kasanen,
Executive Dean, Aalto University School of Economics; Mr. François Pauly,
General Manager of Sal. Oppenheim jr. & Cie S.C.A; and Mr. Jorma Vanhanen,
founder-shareholder of Elcoteq SE. Mr. Pauli Aalto-Setälä, Managing Director of
Aller Media Oy, and Dr. Sándor Csányi, Chairman and CEO of OTP Bank, were
elected as new members to the Board of Directors.

President Ahtisaari, Mr. Horstia, Mr. Kasanen, Mr. Pauly, Mr. Aalto-Setälä and
Dr. Csányi are independent Board members, and they represent more than half of
the Board's members.

The Meeting approved the Nomination Committee´s proposal to pay to each member
of the Board of Directors an annual fee of 60,000 euros, of which 60% will be
paid in money and 40% in Elcoteq shares and those needed shares have to be
acquired during May 20 - June 3, 2010. The shares are not allowed to be
transfered before the next Annual General Meeting, unless the person's
membership in the Board of Directors ends prior to that.

The Meeting also decided that the Chairman of the Board of Directors will be
paid a fee of 45,000 euros per month and the Deputy Chairman of the Board of
Directors will be paid a fee of 10,000 euros per month.


The Meeting approved the proposal of the Audit Committee of the Board of
Directors to appoint the firm of authorized public accountants KPMG Audit
S.à.r.l under the supervision of Mr. Philippe Meyer as the Company's auditors
for the financial year ending on December 31, 2010. The fee of auditors will be
paid as per the appropriate invoice.


The Meeting approved the Board's proposal that no dividend will be distributed
for the financial year January 1 - December 31, 2009.

The minutes of the Annual General Meeting will be on display for inspection by
shareholders at Elcoteq SE's offices in Luxembourg and in Espoo, Finland and on
company's website during week 18.


Satu Jaatinen
Communications Manager

Further information:
Jari Hakkarainen, Director, Group Legal Affairs, tel. +358 10 413 2087

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, 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

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