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- Stock Exchange Release
- 10.03.2008 16:15 CET
SUPREME COURT'S RULING ON THE REFURBISHING OF VILHONKATU
CORPORATE RELEASE March 10, 2008 17:15
SUPREME COURT'S RULING ON THE REFURBISHING OF VILHONKATU 7
Supreme Court announced on March 10, 2008 its ruling regarding the disputes arising from the refurbishing of SOK's former head office, Kiinteistö Oy Vilhonkatu 7, which was completed in 1999. The ruling has a positive effect of EUR 6.0 million on YIT's result before taxes. The total amount will be recognized in YIT's result for January-March, 2008.
The Supreme Court reassessed the amounts of additional and modification works as well as late payment fines, approved by the Helsinki Court of Appeal on 14 February 2006, in a manner diverging from the Court of Appeal's ruling, and thereby reduced the amount of claims payments received by YIT.
Last time YIT has published a stock exchange release regarding this issue on November 24, 2006.
For additional information, contact: Sakari Toikkanen, Executive Vice President, YIT Corporation, tel. +358 20 433 2336
YIT CORPORATION
Juha Kostiainen Senior Vice President, Corporate Communications and Business Development
Distribution: OMX Nordic Exchange in Helsinki, principal media, www.yitgroup.com