YIT IS PAID ABOUT EUR 11 MILLION IN COMPENSATION FOR THE REFURBISHING OF VILHONKATU 7 IN 1999

YIT IS PAID ABOUT EUR 11 MILLION IN COMPENSATION FOR THE REFURBISHING OF VILHONKATU 7 IN 1999

In its ruling, announced today, the Helsinki Court of Appeal has ordered Kiinteistö Oy Vilhonkatu 7 to pay a total of about EUR 11 million in compensation to the YIT Group for the conversion and additional works involved in the refurbishing of SOK’s former head office building in 1999 as well as the costs caused by the lengthening of the duration of the contract, with interest, and trial costs. The ruling will become legally valid in 60 days unless leave to appeal to the Supreme Court has not been sought by that time. The effect of the legally valid ruling on YIT’s earnings amounts to about EUR 11 million before taxes.

YIT has previously released a stock exchange release on the ruling of the Helsinki District Court in this case on February 24, 2003.



For additional information, contact:

Ilpo Jalasjoki, President, YIT Construction Ltd,  tel. +358 20 433 2692 Sakari Toikkanen, Executive Vice President, YIT Corporation, tel. +358 20 433 2336 Esko Mäkelä, Executive Vice President, Investor Relations,   YIT Corporation, tel. +358 20 433 2258

 YIT Corporation



Veikko Myllyperkiö Vice President, Corporate Communications



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