Elcoteq SE

Stock Exchange Release

November 11, 2010 at 18.00 pm (EET)

The Extraordinary General Meeting (EGM) of the shareholders of Elcoteq SE held today, on November 11th, 2011, in Luxemburg, was convened to decide on actions and authorizations supporting the execution of balance sheet restructuring and equity project. On the agenda there were, among other items, Board of Directors proposals to increase the authorised share capital. Currently, the registered share capital of Elcoteq SE is EUR 13,175,674 represented by a total of 32,939,185 Elcoteq A shares.

As a result of the above mentioned the EGM decisions were as follows:

To increase the maximum limit of the authorized share capital of the Company, which includes the issued share capital, from its current amount of forty million Euros (EUR 40,000,000) up to ninety-five million Euros (EUR 95,000,000) and accordingly amendment of the current article 21 of the Articles of Association of the Company;

To authorize the Board of Directors to issue new shares and convertible debt instruments within the authorized share capital of the Company without reserving the existing shareholders a preferential subscription right, up to an amount of forty million Euros (EUR 40,000,000) of the authorized share capital which corresponds to a maximum of 100,000,000 new A-shares. This authorization is divided as follows: up to twenty eight-million Euros (EUR 28,000,000) for an authorization period of one year, starting on the day of the EGM, and the remainder twelve million Euros (EUR 12,000,000) for an authorization period of five years, starting on the day of the EGM.

To authorize the Board of Directors to issue new shares and convertible debt instruments within the remainder of the authorized share capital of forty-one million eight hundred and twenty-four thousand three hundred twenty-six Euros (EUR 41,824,326) for an authorization period of five years respecting the existing shareholders’ preferential subscription right, which corresponds to a maximum of 104,560,815 new A-shares, and to amend the current article 22 of the Articles of Association accordingly;

To delete from the Company’s Articles of Association all references to previous K shares;

To change the administrative language of the Company from German into French and amendment of current article 44 of the Articles of Association accordingly; and

To restate the Company’s Articles of Association in order to reflect the changes voted upon at the EGM of the shareholders of the Company. The restatement implies a renumbering of the Company’s Articles of Association.

ELCOTEQ SE

Susanna Sieppi

Communications Manager

Further information:

Jean-Jacques Bernard, Senior Legal Counsel, tel. +352 621 378 341

About Elcoteq

Elcoteq SE is the global Life Cycle Services 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, LED lamps and luminaires, 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 9,300 persons. Elcoteq SE is listed on the Nasdaq OMX Helsinki Ltd. For more information visit the Elcoteq website at www.elcoteq.com.