INVITATION TO YIT CORPORATION?S ANNUAL GENERAL MEETING

 INVITATION TO YIT CORPORATION’S ANNUAL GENERAL MEETING

The shareholders of YIT Corporation are invited to attend the Annual General Meeting to be held on Wednesday, March 16, 2005, starting at 15:00 in the Helsinki Hall of the Finlandia Hall, Mannerheimintie 13 E, Helsinki (entrance through doors M3 and K3).

Matters to be considered at the meeting

1. The matters specified as being the business of Annual General Meetings in Article 9 of the Articles of Association.

1.1. Dividend payout

The Board of Directors will propose to the Annual General Meeting that it decide on the payment of a dividend of EUR 0.70 per share.
The right to a dividend rests with a shareholder who by the record date of March 21, 2005, has been entered as a shareholder in the company’s shareholder register that is kept by Finnish Central Securities Depository Ltd. The Board of Directors proposes that the dividend be paid on March 30, 2005.

2. Share buyback

It will be proposed that the company purchase its own shares using distributable funds under the following terms and conditions:

2.1. The own shares will be purchased to develop the company’s capital structure, to be used as consideration in possible acquisitions or when the company purchases business assets, or to fund or implement other arrangements, to provide incentives to personnel or for incentive-related reasons, or to be disposed of in public trading on the Helsinki Stock Exchange or annulled.
2.2. The number of shares that will be acquired will be no less than 200 and no more than 2,000,000.
2.3. The shares will be purchased in disproportion to shareholders’ holdings. They will be purchased in public trading on the Helsinki Stock Exchange.
2.4. The shares will be purchased at their market value in public trading at the time of purchase. The share purchase price will be paid to the sellers within the payment period specified in the guidelines of the Helsinki Stock Exchange and the rules of Finnish Central Securities Depository Ltd.
2.5. The share buyback will reduce the company’s non-restricted distributable equity.
2.6. Share buyback will not have a significant effect on the distribution of holdings and voting rights within the company because the combined number of the shares that will be purchased and the shares which are already held by the company represents less than 5% of the company’s shares outstanding and the votes conferred by them.
2.7. On January 31, 2005, parties closely associated with the company (related parties) owned a total of 2,605,462 of the company’s 61,292,854 shares, representing 4.25% of the company’s share capital. The share of the voting rights conferred by the related parties’ shares is 4.25%. Because it is intended that the shares will be purchased in public trading on the Helsinki Stock Exchange, without knowledge of the parties disposing of the shares, the post-share buyback proportion of the company’s share capital and voting rights held by related parties cannot be determined in advance.

3. Authorizing the Board of Directors to dispose of YIT’s own shares under the following terms and conditions:

3.1. The maximum number of shares that can be disposed of under the authorization shall be no more than 2,000,000 of the shares bought back for the company in accordance with the above proposal.
3.2. The Board of Directors will be authorized to decide to whom the shares will be transferred to, and in which order. The Board of Directors may decide to dispose of YIT’s own shares in disproportion to shareholders’ pre-emptive right to acquire YIT shares.
3.3. The shares will be disposed of to develop the company’s capital structure, as consideration in possible acquisitions in such a manner and scope as decided upon by the Board of Directors or when the company purchases business assets, to fund or implement other arrangements, or to provide incentives to personnel or for incentive-related reasons. The shares may also be disposed of by selling them in public trading on the Helsinki Stock Exchange.
3.4. The shares will be disposed of at their market value at the time of disposal, which shall be the price of the share in public trading on the Helsinki Stock Exchange.
3.5. This authorization will be valid for one year from the date when the Annual General Meeting makes its decision.

Annual General Meeting documents

Copies of the documents relating to the 2004 financial statements and the Board of Directors’ proposals will be available for inspection by shareholders for a week before the meeting at the company’s head office, address Panuntie 11, Helsinki, Finland.
Copies of the documents will be sent to shareholders on request.

Financial statement information and the proposals of the Board of Directors can also be read on the Internet at YIT Corporation’s site, www.yit.fi. Printed copies of the company’s Annual Report for 2004 in Finnish will be mailed to shareholders before the Annual General Meeting. The Annual Report will also be available on the site in Finnish as from week 9/2005 and in English and Swedish as from week 10.

Participation rights and notification

In order to have the right to participate in the Annual General Meeting, the shareholder must be registered in YIT Corporation’s shareholder register, which is maintained by Finnish Central Securities Depository Ltd, by no later than March 4, 2005.

Shareholders who wish to participate in the Annual General Meeting must notify the company thereof no later than March 11, 2005, either by telephoning Liisa Nordberg at +358 20 433 2257 or Pirkko Pesonen at +358 20 433 2453 during office hours, 8:00-16:00 from Monday to Friday, or by sending a fax at +358 20 433 2412. One may also notify the company by emailing liisa.nordberg@yit.fi or pirkko.pesonen@yit.fi, or by writing to YIT Corporation, Marja Salo, P.O. Box 36, FIN-00621 Helsinki, Finland. It is requested that the company be notified of any proxies at that time and that any proxies be sent to the above address before the expiry of the registration period.

Helsinki, February 14, 2005

YIT Corporation Board of Directors

 YIT CORPORATION



Veikko Myllyperkiö Vice President, Corporate Communications

 Distribution: Helsinki Stock Exchange, principal media, www.yit.fi