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STOCK EXCHANGE RELEASE, MARCH 13, 2003, 16:15
RESOLUTIONS PASSED AT YIT CORPORATIONS ANNUAL GENERAL MEETING
Today, YIT Corporation's Annual General Meeting adopted the 2002 financial statements and discharged the members of the Board of Directors and the president from liability. It was decided that a dividend of EUR 0.90 will be paid per share, or a total of EUR 26.3 million, as proposed by the Board of Directors. The record date is March 18, 2003, and the dividend payout will begin on March 25, 2003.
Election of the Board of Directors and the Auditor
The Annual General Meeting confirmed that the number of Board members shall be set at six. The following persons were re-elected to seats on the company's Board of Directors: Ilkka Brotherus, managing director of Sinituote Oy, Eino Halonen, managing director of Suomi Mutual Life Assurance Company, Reino Hanhinen, Group CEO of YIT Corporation, Asmo Kalpala, CEO of the Tapiola Group, Mikko Kivimäki, president and CEO of Rautaruukki Corporation, and Teuvo Salminen, executive vice president and deputy CEO of Jaakko Pöyry Group Oyj.
PricewaterhouseCoopers Oy, Authorized Public Accountants, was re- elected as the company's auditor, with Pekka Nikula, Authorized Public Accountant, as chief auditor.
Authorizing the Board of Directors to decide on transferring the companys shares
The Annual General Meeting unanimously resolved to authorize the Board of Directors to decide on the disposal of 567,500 YIT shares in such a manner and for such purposes as are meant in the proposal by the Board of Directors. The Board's proposal was made public in a stock exchange release at 8:15 on February 13, 2003.
The shares will be transferred at least at their market value as determined from their price in public trading on Helsinki Exchanges at the time of the transaction. The authorization is valid one year from the Annual General Meeting onwards.
For additional information, contact: Esko Mäkelä, Executive Vice President, tel. +358 20 433 2258, esko.makela@yit.fi Veikko Myllyperkiö, Vice President, Corporate Communications, tel. +358 20 433 2297, veikko.myllyperkio@yit.fi
YIT CORPORATION
Veikko Myllyperkiö Vice President, Corporate Communications
Distribution: Helsinki Exchanges, principal media, www.yit.fi