NESTE OIL AND YIT CONTRACT DISPUTE GOES TO COURT OF ARBITRATION

 NESTE OIL AND YIT CONTRACT DISPUTE GOES TO COURT OF ARBITRATION                 

The disagreement that has arisen in the financial final settlement for the       mechanical installation work of production line 4, which was completed at Neste  Oil's Porvoo oil refinery last summer, has been brought to the court of          arbitration for a decision. Neste Oil's claims against YIT Industrial and        Network Services amount to around EUR 36 million and they comprise mainly        damages based on the delay to the contract. Neste Oil is reserving the right to  further specify its claims.                                                     

YIT has presented claims against Neste Oil in the financial final settlement for an amount of around EUR 25 million. The principle bases of these claims are the  work performed under the contract and the additional costs that arose from the   prolongation of the contract.                                                   

Both parties contest the claims made against each other.                        

For additional information, contact:                                             Pekka Frantti, President, YIT Industrial                                         and Network Services Ltd, tel. +358 50 390 0932                                 

 YIT CORPORATION                                                                                                                                                   Juha Kostiainen                                                                  Senior Vice President, Corporate Communications and Business Development        

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