YIT EHITUS TO BUILD FACILITIES FOR TOWERS CONSTRUCTION MANAGEMENT IN RIGA, LATVIA

 YIT EHITUS TO BUILD FACILITIES FOR TOWERS CONSTRUCTION MANAGEMENT IN RIGA,       LATVIA                                                                          

AS YIT Ehitus, a subsidiary of YIT Construction (Finland) has signed an          agreement to build new facilities for SIA Towers Construction Management in      Riga, Latvia. The project will include office; hotel and retail facilities that  will be constructed on foundations and underground premises that have already    been completed. The agreement between AS YIT Ehitus and SIA Towers Construction  Management will be to construct the frame and façades. The contract sum will be  determined based on actual works being completed. The first stage of works is    expected to be approximately 40 million euro.                                   

SIA Towers Construction Management will build the towers on behalf of the owner, SPI Real Estate Holdings, a Luxemburg-based real estate developer, part of the   SPI Group. The building consists of 2 circular high rise towers 31 floors and 29 floors. The tallest tower will reach 120 metres and the total area of the        premises will be approximately 100 000 square meters of which 70.000 are located above ground. The Hotel tower is to be operated by Starwood hotels and Resorts   Worldwide, Inc. under the brand name Sheraton.                                  

“The innovative construction of the two connected buildings is bound to become   one of the outstanding architectural landmarks in the Baltic Region,” said Val   Mendeleev, CEO of SPI Group.  “We are excited about this project, which we       believe will be a promising one despite the economic circumstances of the        region.”  In commenting on the choice of general contractor, he added “our Group made a thorough analysis of the General Contractors whose business concept is to help its customers to invest profitably and to maintain the value of             investments. We are looking forward to an excellent co-operation with YIT.”     

 For additional information, please contact:                                      Kari Kauniskangas, President, YIT Construction Ltd, tel. +358 40 519 0198,       kari.kauniskangas@yit.fi                                                        

Margus Poim, MD, YIT Ehitus, margus.poim@yit.ee, tel +372 5041068               

Olegs Alainis, Board Member, SIA Towers Construction Management, tel. + 371 292  40932 Olegs.alainis@spi-group.com                                               

 YIT CORPORATION                                                                 

 Virva Salmivaara                                                                 Senior Vice President, Corporate Communications                                 

 Distribution: principal media, www.yitgroup.com                                 

YIT is a European service company in building systems, construction services and services for industry. It builds, develops and maintains quality living          environments in Nordic countries, Russia, Baltic countries and Central Europe.   In 2009, YIT's revenue amounted to EUR 3.5 billion. The Group employs about      23,500 people. YIT's share is listed on NASDAQ OMX Helsinki. www.yitgroup.com     SPI Group, headquartered in Luxemburg, is one of the world's leading spirits and alcoholic beverages companies with interests in agribusiness, distribution,      retail and real estate.For more information about SPI Group, please visit        www.spi-group.com.