FINLAND?S TALLEST BLOCK OF FLATS TO BE B

FINLAND’S TALLEST BLOCK OF FLATS TO BE BUILT IN VUOSAARI, HELSINKI

YIT Construction Ltd and Paulig Ltd have agreed on a deal whereby YIT will acquire from Paulig a plot located in Vuosaari, Helsinki.
YIT will then build a 26-storey block of flats rising to about 90 metres on the plot. The total value of the construction project is around EUR 30 million.

The plot is located between the Columbus shopping centre and the Aurinkolahti district. Building rights on the plot amount to 11,000 square metres of floor area. The architectural design of the site in accordance with the zoning plan that is in legal force will be handled by the Danish architectural firm 3XNielsen A/S, the winner of the architectural competition held for the project in 1998.

A high-quality residential site that will fit in with the seafront environment of Vuosaari will be designed for the plot. Upon completion, this will be the tallest block of flats in Finland and will have about 140 flats, most of which will boast beautiful views of the sea. The aim is to start up construction works during 2004.

 YIT CORPORATION

Veikko Myllyperkiö Vice President, Corporate Communications

 For additional information, contact: YIT Construction Ltd, Head of Business Division Jouko Kemppinen, tel. +358 2043 32687, jouko.kemppinen@yit.fi

Pro Paulig Ltd, Managing Director Antti Kangas, tel. +358 9 3198416, antti.kangas@paulig.fi

For press image, contact: YIT Corporation communications, Sanna Jääskeläinen, tel. +358 20 433 2484, sanna.jaaskelainen@yit.fi.

 Distribution: Helsinki Exchanges, principal media, www.yit.fi