YIT AND KESKO TO CONTINUE REAL ESTATE SERVICE COOPERATION

YIT AND KESKO TO CONTINUE REAL ESTATE SERVICE COOPERATION

YIT Kiinteistötekniikka Oy, Kesko Corporation and Kesko's division parent companies have signed a cooperation and service agreement based on a cost liability model. The agreement covers the management and maintenance services of Kesko's properties at some 400 locations in different parts of Finland.

Under the signed agreement, YIT produces and manages the services referred to in the agreement for Kesko. The services include property maintenance, technical servicing, repairs and replacements, energy management and property services management for a total area of some 1.5 million square metres. The value of the agreement is nearly EUR 70 million. The signed agreement will extend the cooperation initially started between the parties in 2001 until the end of 2008.

The main objectives of this cooperation are enhancing property maintenance, customer satisfaction and cost efficiency. The aim is to maintain the operating environment for Kesko's core businesses as flexible, risk-free and well functioning as possible with respect to property maintenance. The agreement is in line with a mutual understanding between the parties about the importance of joint efforts for the purpose of developing business operations.

"YIT is required to offer expertise at all levels of cooperation and commitment to reaching the targets of the agreement. Therefore we can be very happy with the confidence shown to us and with the continuation of our cooperation," says Matti Malmberg, Vice President  of YIT Kiinteistötekniikka Oy.

"We expect to get cost-efficient top notch expertise from our business partner. In the new agreement, we stress more openness, proactiveness and continuous development of the operating system.
Particular emphasis has been put on measuring and reporting the operations performed in accordance with the agreement in order to enable efficient management," says Real Estate Manager Ari Mäkinen of Kesko.

YIT CORPORATION

 Jaakko Mäkynen Vice President, Finance

For additional information, contact: YIT Kiinteistötekniikka Oy, Vice President Matti Malmberg, tel. +358 50 390 0330, matti.malmberg@yit.fi

Kesko Corporation/Real Estate Services, Real Estate Manager Ari Mäkinen, tel. +358 50 502 0528, ari.a.makinen@kesko.fi

 Distribution: Helsinki Stock Exchange, principal media, www.yit.fi