SRV to adjust Kalasatama Centre construction site timetable due to planning appeal

8/21/2012 6:30 AM EST

SRV Yhtiöt Oyj
Company Announcement

SRV to adjust Kalasatama Centre construction site timetable due to planning
appeal

Espoo, Finland, 2012-08-21 12:30 CEST (GLOBE NEWSWIRE) -- SRV GROUP PLC        
                      STOCK EXCHANGE RELEASE          21 AUGUST 2012, at 13:30 

To limit the commitment of capital, SRV will adjust the timetable of its
Kalasatama Centre construction site in Sörnäinen, Helsinki to take into account
the processing of an appeal filed with the Helsinki Administrative Court
concerning the city plan for the block. Project planning and commercialisation
work will continue. 

The adjustment of construction site activities during the later part of the
year will affect developer-contracting parts of the project. Infrastructure
work commissioned by the city will continue at least until the end of the year.
This includes, among other things, a common waste collection station for the
Kalasatama area. 

It is estimated that EUR 22 million of SRV capital will be employed to the
project by the end of the year. The project is scheduled over a long period and
the delay caused by the planning appeal is not expected to have an impact on
SRV’s profit guidance for this year nor on the project’s overall timetable or
profitability. 

SRV Group Plc


Further information:

 Hannu Linnoinen, CFO, tel. +358 (0)20 145 5990
Juhani Katko, Project Director, tel. +358 (0)20 145 5601