YIT - Company Announcement

YIT to construct apartments for LocalTapiola’s fund worth over EUR 100 million

Helsinki, Finland, 2015-03-04 09:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION    
         STOCK EXCHANGE RELEASE       MARCH 4, 2015 AT 10:00 A.M. 

YIT to construct apartments for LocalTapiola's fund worth over EUR 100 million

YIT and LocalTapiola Asuntosijoitus Suomi Ky housing fund have signed a frame
agreement on the construction of over 550 non-subsidised rental apartments to
Helsinki metropolitan area, Tampere and Turku. The total value of the frame
agreement is over EUR 100 million, and project specific agreements will be
signed prior to each project start-up. All projects will be started during
spring and summer of 2015 and they will be completed by the end of 2016. The
projects will be constructed on plots controlled or owned by YIT according to
the company's design. The construction of the projects will not tie YIT's
capital. 

“LocalTapiola is increasing the number of its investment properties with
high-quality apartments that are easily accessible. The agreed apartments are
located by excellent public transport connections”, says Kim Särs, Director at
LocalTapiola Real Estate Asset Management. 



For further information, please contact:

Sanna Kaje, Vice President, Investor Relations, YIT Corporation, tel. +358 50
390 6750, sanna.kaje@yit.fi 
Harri Isoviita, Senior Vice President, Residential Construction, YIT
Construction Ltd, tel. +358 40 553 3833, harri.isoviita@yit.fi 
Matti Koskela, Senior Vice President, Building Construction, YIT Construction
Ltd, tel. + 358 40 557 6520, matti.koskela@yit.fi 

YIT CORPORATION

Sanna Kaje
Vice President, Investor Relations



Distribution: NASDAQ OMX, principal media, www.yit.fi

YIT is a construction industry leader. We create better living environments in
Finland, Russia, the Baltic countries, the Czech Republic and Slovakia. Over
100 years of experience have secured us a strong market position: we are the
largest housing developer and one of the largest business premises and
infrastructure developers in Finland, and the most significant foreign housing
and area developer in Russia. Our vision is to stay one step ahead - while
taking care of our customers, partners and personnel. We have nearly 6,000
employees in seven countries. In 2014, our revenue amounted to around EUR 1.8
billion. Our share is listed on NASDAQ OMX Helsinki. www.yitgroup.com