YIT CORPORATION PLANS TO ISSUE NOTES

YIT CORPORATION STOCK EXCHANGE RELEASE AUGUST 29, 2003 13:10 1 (1)

YIT CORPORATION PLANS TO ISSUE NOTES

YIT Corporation ("YIT") is planning to issue notes totalling max EUR 100 million under two serial notes totalling max EUR 50 million each (2/2003 and 3/2003). Mainly targeted to the domestic institutional investors, the proceeds of the issue will be used to finance YIT's acquisition of ABB's Building Systems business in the Nordic countries, the Baltic States and Russia. Sampo Bank plc will act as the sole bookrunner of the issue.

The sales period for the first tranches under the serial notes begins on 15th September 2003 and ends on 25th September 2003, subject to market conditions. The issue date of the notes is 1st October 2003. The issue price of the notes is variable and the yield to investors will be set according to the subscriptions. The coupons of the notes will be determined later and the maturity of the notes is 4 years (2/2003) and 6 years (3/2003). The company will make its final decision on the issue after the close of the sales period based on bids made by investors.

YIT intends to apply for listing of the notes on the HEX Helsinki Exchanges for public trading after the issue. The Listing Particulars of the notes are available from the bookrunner (Sampo Bank plc, Capital Markets, Eteläesplanadi 8, 00130 Helsinki) commencing approximately on 11th September 2003.

YIT CORPORATION



Veikko Myllyperkiö Vice President, Corporate Communications

For additional information, contact: Jaakko Mäkynen, Vice President, Finance, YIT Corporation, tel. +358 20 433 2307, jaakko.makynen@yit.fi Riitta Salonen, Senior Vice President, Head of Capital Markets, Sampo Bank plc, tel. +358 10 513 3633

DISTRIBUTION: Helsinki Exchanges, principal media, www.yit.fi

About Us

YIT is the largest Finnish and a significant North European construction company and urban developer. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction. Together with our customers, our nearly 8,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 10 countries: Finland, Russia, Sweden, Norway, the Baltic countries, Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com

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