Elcoteq SE

Stock Exchange Release

August 5, 2011 at 15:00 (EET)

President and CEO Jouni Hartikainen has today resigned from his position. According to Mr. Hartikainen, his ability to manage the company and to objectively safeguard the benefits of all the company's stakeholders became impossible due to the recent actions by the revolving credit facility lenders.

The Board of Directors assume the responsibilities of Mr. Hartikainen but have asked him to provide his continuous support to the company during his notice period.

ELCOTEQ SE

The Board of Directors

Contact:

Jorma Vanhanen, Chairman of the Board, tel. +358 10 413 11.

About Elcoteq

Elcoteq SE is an experienced Life Cycle Service Partner in electronics with a global network of service centers. Elcoteq provides a wide range of services to original equipment manufacturers (OEM) and to service providers such as operators, retailers and insurance companies.

Elcoteq's Electronics Manufacturing Services (EMS) Business Segment provides global supply chain solutions such as Engineering and Manufacturing Services but also technology and component Sourcing, custom Configuration, Testing, Delivery and other product supply related Services. EMS products range from control and security, communications infrastructure and lighting solutions to special purpose mobile devices and home entertainment systems.

Elcoteq's After Market Services (AMS) Business Segment provides globally reverse supply chain solutions for its customers consisting of Reverse Logistics, Depot Repair, Refurbishment, Recycling and Salvaging Services as well as AMS specific Engineering and Customer Support Services. AMS products range from mobile phones, tablets, flat panel TV's and set-top boxes to personal navigation and gaming devices.

Elcoteq SE is listed on the NASDAQ OMX Helsinki Ltd. www.elcoteq.com