RESOLUTIONS PASSED AT YIT CORPORATION?S ANNUAL GENERAL MEETING

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YIT CORPORATION STOCK EXCHANGE RELEASE  MARCH 13, 2006 17:30


RESOLUTIONS PASSED AT YIT CORPORATION’S ANNUAL GENERAL MEETING


YIT Corporation’s Annual General Meeting, which was held today, adopted the 2005 financial statements and discharged the members of the Board of Directors and the President and CEO from liability. The Annual General Meeting decided on the payment of dividends, the composition of the Board of Directors and the election of the auditor. It was decided that Articles 1, 2, 3, 4 and 9 of the Articles of Association as well as the terms and conditions of the 2002 and 2004 share options will be amended. In addition, it was decided that new share options will be granted to managers and key employees of YIT Group.

Dividend payout

It was decided that a dividend of EUR 1.10 will be paid per share, or a total of EUR 68,6 million, as proposed by the Board of Directors. The right to a dividend rests with a shareholder who by the record date of March 16, 2006, has been entered as a shareholder in the company’s shareholder register that is kept by the Finnish Central Securities Depository Ltd. It was decided that the dividend will be paid on March 23, 2006.

Composition of the Board of Directors and the election of the auditor

The Annual General Meeting confirmed that the number of Board members shall be set at five. The following persons were re- elected to seats on the company's Board of Directors: Eino Halonen, managing director of Suomi Mutual Life Assurance Company, Reino Hanhinen, M.Sc. (Eng.), Antti Herlin, Chairman of the Board of Directors of Kone Corporation and Teuvo Salminen, deputy CEO of Jaakko Pöyry Group Oyj. Sari Baldauf, M.Sc. (Econ.), was elected as a new member.

PricewaterhouseCoopers Oy, Authorized Public Accountants, was re- elected as the company's auditor, with Göran Lindell, Authorized Public Accountant, as chief auditor.

Amendment of Articles 1, 2, 3, 4 and 9 of the Articles of Association.

It was decided that Article 1 of the Articles of Association will be amended in accordance with the proposal of the Board of Directors such that the company’s Finnish business name be changed to YIT Oyj and Swedish parallel business name to YIT Abp.

It was decided that Article 2 of the Articles of Association will be amended in accordance with the proposal of the Board of Directors such that “network services” be added to the company’s field of activity.

It was decided that Article 3 of the Articles of Association will be amended in accordance with the proposal of the Board of Directors such that the nominal value of the share be changed from one euro to EUR 0.50 (split), thereby doubling the number of shares in proportion to the holding of shareholders and without raising the share capital.

YIT Corporation’s share capital presently amounts to EUR 62.397.352. There are 62.397.352 shares, each having a nominal value of one euro. After the amendment to the Articles of Association has been registered, each share having a nominal value of one euro will be split into two shares having a nominal value of EUR 0.50 each. The number of shares will be 124.794.704. The number of shares owned by each shareholder will thus double. The increase in the number of shares will be carried out in the book- entry system and shareholders are not required to take action.

It is intended that the change in the nominal value of the share will be recorded in the Trade Register on March 24, 2006, in which case the newly doubled share amounts will be used on Helsinki Stock Exchange as from March 27, 2006.

It was decided that Article 1 of the Articles of Association will be amended in accordance with the proposal of the Board of Directors such that the Annual General Meeting shall elect the chairman and vice chairman of the Board of Directors and a minimum of three (3) and a maximum of five (5) Board members. A person who has reached the age of 68 years shall not be elected as a member of the Board of Directors.

It was decided that Article 9 of the Articles of Association will be amended in accordance with the proposal of the Board of Directors such that the chairman, vice chairman and members of the Board of Directors shall be elected at the Annual General Meeting.

Amendment to the terms of the 2002 and 2004 share option programmes

It was decided, as proposed by the Board of Directors, that the terms of the Series C and D share options from 2002 will be amended such that each Series C and D share option entitles its bearer to subscribe for four YIT Corporation shares having a nominal value of EUR 0.50 each. On the basis of the share subscriptions, the company’s share capital may be raised by a maximum amount of EUR 2,800,000. It was decided that the subscription price of the shares subscribed with the Series C options will be changed to EUR 3.2725 per share and in the case of the Series D options, the subscription price will be changed to EUR 2.9225 per share.

It was decided, as proposed by the Board of Directors, that the terms of the Series E and F share options from 2004 will be amended such that each Series E and F share option entitles its bearer to subscribe for two shares having a nominal value of EUR 0.50 each. A maximum total of 1,200,000 shares can be subscribed for and the company’s share capital may be raised by a maximum amount of EUR 600,000. It was decided that the subscription price of the shares subscribed with the Series E and F options will be changed to EUR 7.70 per share. In the case of the Series E options, the share subscription price will be lowered by half the amount of dividends per share decided by the Annual General Meetings of 2005 and 2006, and in the case of the Series F options, by half the amount of dividends per share decided by the Annual General Meetings of 2005 and 2006 and the dividend per share decided on by the Annual General Meeting of 2007.

It was decided that the place of share subscription with the 2004 Series E and F share options be changed from YIT Corporation’s head office to Nordea Bank Finland plc’s investment advisory branches, as was previously decided in the case of the 2002 Series C and D share options.

Decision to grant new share options

It was decided that a maximum of 300,000 Series K, 900,000 Series L, 900,000 Series M and 900,000 Series N share options be granted for subscription. The options subscribed for will be distributed in 2006 (K), 2007 (L), 2008 (M) and 2009 (N), on the basis of the decision by the Board of Directors of YIT Corporation, to those who are either in the employ of or will be hired into the employ of the YIT Group companies, the president and CEO of YIT Corporation, the deputy to the president, and other members of the Group’s management and its key employees.

The proposal by the Board of Directors to amend Articles 1, 2, 3, 4 and 9 of YIT Corporation’s Articles of Association, the proposal by the Board of Directors to amend the terms and conditions of YIT Corporation’s Series C and D share options from 2002 and Series E and F share options from 2004, the proposal by the Board of Directors on granting share options, and the terms of the share option programme as a whole are presented on the company’s Internet site www.yit.fi/english.

For further information, contact: Esko Mäkelä, Executive Vice President, Investor Relations tel. +358 20 433 2258, esko.makela@yit.fi Veikko Myllyperkiö, Vice President, Corporate Communications, tel. +358 20 433 2297, veikko.myllyperkio@yit.fi

YIT CORPORATION



Veikko Myllyperkiö Vice President, Corporate Communications

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

About Us

YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com

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