YIT APPLIES FOR THE LISTING OF THE SERIE

YIT APPLIES FOR THE LISTING OF THE SERIES C SHARE OPTIONS FROM 2002 ON THE MAIN LIST OF HELSINKI EXCHANGES

YIT Corporation’s Board of Directors has decided to apply for the listing of the Series C share options issued in 2002 on the Main List of Helsinki Exchanges such that trading will begin on April 1, 2004. A total of 450,000 Series C share options have been issued.

Furthermore, the Board of Directors decided to apply for the listing of an additional lot of the company’s shares on the Main List of Helsinki Exchanges. The application pertains to the new shares that will be subscribed for in 2004 on the basis of the Series C share options. The share subscription period is April 1 - November 30, 2004. It is intended that the increases in the share capital on the basis of the subscriptions will be carried out as follows:

Share subscription    Entry into the Trade   New shares listed deadline              Register April 28              May 6                  May 7 June 17               June 28                June 29 August 13             August 23              August 24 November 30           December 9             December 10

In accordance with the terms of the share options, each Series C share option entitles its bearer to subscribe for one YIT Corporation share with a nominal value of two euros. The share subscription price is EUR 15.19 per share and it will be lowered after January 1, 2003, by the amount of dividends per share distributed by the date when the share subscription period begins.
In 2003, a per-share dividend of EUR 0.90 was paid. In 2004, the Board of Directors has proposed to the Annual General Meeting that will convene on March 18, 2004, that a dividend of EUR 1.20 per share be paid. If the Annual General Meeting approves the proposal of the Board of Directors, the subscription price will be EUR 13.09 per share.

The Board of Directors has also proposed to the Annual General Meeting that the nominal value of the share, two euros, be split.
If the Annual General Meeting approves this proposal by the Board, the terms of the share option programme will be amended such that each share option entitles its bearer to subscribe for two shares having a nominal value of one euro each. In this case, the number of shares to be listed is 900,000 at most. Correspondingly, the share subscription price will be halved; in other words, it will amount to EUR 6.545 per share if the Annual General Meeting approves the dividend of EUR 1.20 per share.

Shares subscribed for on the basis of the share options impart all shareholder rights as from the registration date.

Subscriptions will be accepted at Nordea Bank Finland plc’s investment advisory branches.

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