Lemminkäinen - Company Announcement

Lemminkäinen to construct a new residential site in St. Petersburg

LEMMINKÄINEN CORPORATION   STOCK EXCHANGE RELEASE   17 OCTOBER 2012 AT 9 A.M.



LEMMINKÄINEN TO CONSTRUCT A NEW RESIDENTIAL SITE IN ST. PETERSBURG

Lemminkäinen has purchased a plot in central St. Petersburg along the Obvodny
Canal, near Moskovsky prospekt. The new project called Tapiola will comprise of
around 800 apartments with a total area of around 50,000 square metres. In
addition, the site will have around 5,000 square metres of commercial space
that is to be sold, and around 350 underground parking spots. The total value
of the project is around EUR 170 million. Lemminkäinen is responsible for the
development, construction and selling of the site. 

Work will commence immediately with planning and demolition. Lemminkäinen
targets to start the construction in spring 2013. Roughly a half of the
apartments, will be completed in autumn 2014, and the rest in autumn 2015. The
apartments will be comfort-business class. "Our goal is to start the construction of around 1,000 new apartments in St.
Petersburg each year. The new site, with great location in the city centre,
supports us in reaching this goal", says Timo Kohtamäki, President and CEO. 


LEMMINKÄINEN CORPORATION
Corporate Communications


ADDITIONAL INFORMATION:
Timo Kohtamäki, President and CEO
Tel. +358 2071 53263
timo.kohtamaki@lemminkainen.com

Henrik Eklund, Executive Vice President, International Operations
Tel. +358 2071 53313
henrik.eklund@lemminkainen.com


DISTRIBUTION:
NASDAQ OMX Helsinki
Key media
www.lemminkainen.com


Lemminkäinen Group operates in all areas of the construction sector. The
Group's operations are organised into four business segments: building
construction, infrastructure construction, technical building services and
international operations. Net sales in 2011 were about EUR 2.3 billion, of
which international operations accounted for roughly a third. The Group employs
8,000 people on average. Lemminkäinen Corporation's share is quoted on NASDAQ
OMX Nordic Exchange Helsinki. www.lemminkainen.com