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SRV sold 100 residential units in September

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SRV Group Plc         Stock Exchange Release    6.October 2010    8.30 a.m. EET 

                                 

The positive trend in housing sales continued, and SRV sold 100 new residential 
units in September. This was all time record month in the company's history. SRV
has made a strategic decision to focus its residential production in growth     
centers, where migration and structural demand create a solid base to expand the
regional operations.                                                            

SRV has started the construction of 410 developer contracting housing units     
during the period of 1. January - 30. September 2010 (4 residential units in    
1.January - 30. Septemer 2009 and 251 units in the whole year 2009).            

Moreover, due to good predemand the company has made a decision to start the    
construction of 130 new residential units during the latter part of the year.   
They will be included in the order backlog as soon as they have reached the     
RS-stage.                                                                       

By the end of Septemer, SRV has sold 361 new residential units  to consumers    
(121 last year), and during the same period, 116 units to investors (323 last   
year). This shows that now that the market situation has improved, the focus in 
sales has shifted to end users. For the developer contracting housing projects  
SRV applies the recognition principle based upon delivery, according to which   
sales income is recorded when the project is completed and has been handed over 
to the customer.                                                                

SRV focuses on customer oriented housing production, and based on premaketing,  
the company steers its production to types of  homes that have strong demand by 
end-users. “We have focused in customer service, and in homes that are meant for
consumers we offer individual interior design packages that are easily          
customised, instead of mass production. At the moment, as many as half of our   
customers make use of this customising service”, says Jukka Hienonen, CEO.      

SRV Group Plc                                                                   
Jukka Hienonen                                                                  
CEO                                                                             

Further information:                                                            
Juha-Veikko Nikulainen, Executive Vice President,SRV Housing, tel.              
+358 500 430 017                                                                
Hannu Linnoinen, Senior Executive Vice President and CFO, tel +358 50 323 5850  

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Nasdaq OMX Helsinki                                                             
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