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SUBSCRIPTION FOR YIT SHARES BY EXERCISIN

STOCK EXCHANGE ANNOUNCEMENT June 23, 2003 13:30 1 (1)

SUBSCRIPTION FOR YIT SHARES BY EXERCISING THE 1998 SERIES A AND B SHARE OPTIONS

Through the exercise of the 1998 Series A share options a total of 8,500 YIT Corporation shares have been subscribed for during the period May 1 - June 19, 2003. A total of 49,251 YIT shares were subscribed for on the basis of the series B share options during the same period.

The increase in the share capital as a consequence of these share subscriptions, EUR 115,502, is to be entered in the Trade Register on June 26, 2003.

YIT CORPORATION



Veikko Myllyperkiö Vice President, Corporate Communications

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