YIT AND OIKOTIE.FI LAUNCH FINLAND'S FIRST HOME AUCTION SERVICE WITH OPEN BIDDING

			                                                                             

YIT AND OIKOTIE.FI LAUNCH FINLAND'S FIRST HOME AUCTION SERVICE WITH OPEN BIDDING

YIT Home and Oikotie.fi are launching Finland's first service in which           homebuyers can bid online for new apartments. The aim is to enable homebuyers to influence the appraisal of housing and increase pricing transparency.           

The first YIT residential site to be offered is located in Ilmala, Helsinki. The auction service will go live on August 16. The bidding period will end on August 30, after which YIT will contact the highest bidders and agree on the details.   The bids made for each of the residential units will be posted online in real    time for all to see.                                                            

Experiences with the first phase will determine further measures.               

Open bidding on homes is new in Finland. Such auctions are held in countries     such as Sweden and the United States.                                           

For additional information, contact:                                             President Ilpo Jalasjoki, YIT Construction Ltd, tel. +358 20 433 111             President Pekka Soini, Helsingin Sanomat Oy, tel. +358 9 122 3260               

Have a look at the service at yitkoti.fi or oikotie.fi                          

                                                                                 YIT CORPORATION                                                                 

 Veikko Myllyperkiö                                                               Vice President, Corporate Communications                                        

Distribution: OMX Nordic Exchange in Helsinki, principal media,                  www.yitgroup.com