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SUBSCRIPTION FOR YIT SHARES BY EXERCISIN

STOCK EXCHANGE ANNOUNCEMENT MAY 2, 2003 12:00 1 (1)

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

Through the exercise of the 1998 Series A share options a total of 2,600 YIT Corporation shares have been subscribed for during the period March 20 - April 30, 2003. The subscription price of the shares is EUR 11.77 per share, in accordance with the terms and conditions of the share option programme. No shares were subscribed for on the basis of the series B share options.

The increase in the share capital as a consequence of these share subscriptions, EUR 5,200, is to be entered in the Trade Register on May 8, 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

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