INCREASE IN YIT?S SHARE CAPITAL AS A CON

 INCREASE IN YIT’S SHARE CAPITAL AS A CONSEQUENCE OF SHARE SUBSCRIPTIONS WITH THE SERIES C SHARE OPTIONS FROM 2002

Through the exercise of the 2002 Series C share options, after the previous entry in the Trade Register on June 28, 2004, a total of 18,780 YIT Corporation shares have been subscribed for by August 13, 2004. The increase in the share capital as a consequence of these share subscriptions, totalling EUR 18,780, was entered in the Trade Register on August 23, 2004.

Following the increase, YIT’s share capital is EUR 61,178,720 and the number of shares outstanding is 61,178,720. The nominal value of the share is one euro.

The new shares confer all shareholder rights as from the date of registration, August 23, 2004, and they will be accepted for public trading on Helsinki Exchanges together with the existing shares. The objective is that trading in the shares will commence on August 24, 2004.

A total of 450,000 Series C share options have been issued. Each Series C share option entitles its bearer to subscribe for two YIT Corporation shares. All in all, a maximum of 900,000 shares can be subscribed for with the Series C share options. Accordingly, the share capital can be increased by a maximum of EUR 900,000.

By August 13, 2004, a total of 131,970 shares have been subscribed for with the 2002 Series C share options. Max. 768,030 shares can be subscribed for with the remaining Series C share options.

The subscription period is stepwise as follows:

April 1 - November 30, 2004 April 1 - November 30, 2005 April 1 - November 30, 2006

Subscriptions will be accepted at Nordea Bank Finland plc’s investment advisory branches.

The objective is that the increase in the share capital on the basis of the subscriptions will be carried out in 2004 as follows:

Share subscription    Entry in the Trade     New shares listed deadline              Register                                              

November 30           December 9             December 10

YIT Corporation

Jaakko Mäkynen Vice President, Finance                                                              

For additional information, contact: Jaakko Mäkynen, Vice President, Finance, tel. +358 20 433 2307, jaakko.makynen@yit.fi Marja Salo, Director of Administration, tel. +358 20 433 2470, marja.salo@yit.fi

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