YIT STARTS UP HOUSING CONSTRUCTION IN THE CZECH REPUBLIC

YIT STARTS UP HOUSING CONSTRUCTION IN THE CZECH REPUBLIC                        

On this day, May 29, 2008, YIT Construction Ltd has signed an acquisition        agreement with a target of starting up housing construction in the Czech         Republic. The acquisition gives YIT a foothold in a new market in line with its  strategy.                                                                       

The acquired company, Euro Stavokonsult s.r.o., was established in 1990 and      provides developer, design and project management services for domestic and      foreign investors. YIT's initial holding in the company is 85 per cent, with the remaining 15 per cent held by the executives of the acquired company. The        company will be named YIT Stavo.                                                

In YIT Stavo the local contact network, expertise and market know how of Euro    Stavokonsult will be combined with YIT's housing concept. The target is to start the construction of the first sites in spring 2009. The company will focus on    Prague and its surroundings.                                                    

According to the Czech Statistical Office, the construction of about 42,000      residential units was started up in the Czech Republic in 2007. Residential      start-ups in the January-March period of 2008 saw growth of four per cent on the previous year.                                                                  

YIT currently builds housing in Finland, Russia and the Baltic countries. The    company's strategic target is to expand International Construction Services in   Russia and Central Eastern Europe. At the end of March 2008, YIT had a total of  about 13,500 residential units under construction.                              

For further information, please contact:                                         Kari Kauniskangas, President, International Construction Services, +358 40 519   0198, kari.kauniskangas@yit.fi                                                   Petra Thorén, Senior Vice President, Investor Relations, +358 40 764 5462,       petra.thoren@yit.fi                                                             

 YIT CORPORATION                                                                 

 Juha Kostiainen                                                                  Vice President, Corporate Communications and Business Development               

Distribution: OMX Nordic Exchange in Helsinki, principal media, www.yitgroup.com

 YIT is a leading service company in building systems, construction services and  services for industry in Northern Europe. We build, develop and maintain the     technical structures of the living environment in Finland, Sweden, Norway,       Denmark, Estonia, Latvia, Lithuania and Russia. In 2007 YIT's revenue amounted   to EUR 3.7 billion and number of employees was over 23,000. YIT's share is       quoted in OMX Nordic Exchange in Helsinki.