Lemminkäinen sells first housing site in Helsinki´s Jätkäsaari district to Propertos

LEMMINKÄINEN CORPORATION               PRESS RELEASE 28.12.2010, 10.30 A.M.

LEMMINKÄINEN SELLS FIRST HOUSING SITE IN HELSINKI´S JÄTKÄSAARI DISTRICT TO PROPERTOS

Lemminkäinen has sold all the shares in the first housing corporation built in Jätkäsaari, Helsinki to real estate owner Propertos Oy. Lemminkäinen also made a design & build contract with the housing corporation for the new construction of a seven-storey building on the plot.

The construction works for the sold housing corporation Asunto Oy Helsingin Kapteeninranta have already started, and the building will be completed in spring 2012. The private-sector rental property will consists of 120 housing units, a two-group child daycare centre to be rented to the City of Helsinki, and a few business premises. The site of the building is near the Crusell bridge that spans the Ruoholahti channel. Some of the building’s car parking spaces will be located under the yard deck and some on a neighbouring parking lot.

The private-sector rental building now under construction is the first residential construction project in the Saukonpaasi area between the districts of Jätkäsaari and Ruoholahti. Lemminkäinen will construct a total of seven apartment buildings in the area. The next two of these will be private-sector production of owner-occupied housing subject to the price and quality controls of the Hitas scheme, and the remaining four will be private-sector developments. The buildings to be constructed in the area by Lemminkäinen will have a total floor area of 38,000 square meters and consist of 430 housing units.

An architectural competition for the design of Asunto Oy Helsingin Kapteeninranta was organised in accordance with an implementation agreement between Lemminkäinen and the City of Helsinki. In addition, an architectural competition for the first two private-sector properties was launched in September 2010 and will close at the end of January 2011. The design for the other plots will start with the preparation of a reference plan to be approved by the City of Helsinki.

LEMMINKÄINEN CORPORATION

Corporate Communications

ADDITIONAL INFORMATION:

Project Manager Jukka Savolainen
Lemminkäinen Talo Oy Pääkaupunkiseutu
Tel. +358 2071 53216
jukka.savolainen@lemminkainen.fi

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Lemminkäinen Group operates in all areas of the construction sector. The Group's business sectors are Building Construction, Infrastructure Construction, Technical Building Services, and Building Products. As of 1 January 2011, the operations of Building Products will be transferred to the Infrastructure Construction business sector. Net sales in 2009 were approx. EUR 2.0 billion, of which international operations accounted for over a quarter. The Group employs about 8,600 people. Lemminkäinen Corporation's share is quoted on NASDAQ OMX Helsinki Ltd. www.lemminkainen.com