SRV Yhtiöt Oyj - Company Announcement

SRV'S HOUSING BACKLOG EXCEEDS 2000 RESIDENTIAL UNITS

Espoo, Finland, 2011-04-28 07:45 CEST (GLOBE NEWSWIRE) -- SRV GROUP PLC     
STOCK EXCAHNGE RELEASE   28.4.2011 at 8.45 am EET 

SRV's housing backlog is over 2 000 residential units, most of which will be
built in Helsinki Metropolitan area. In last year the equivalent figure was
below one thousand. Housing construction in Finland represents approximately
one third of SRV Group's total revenue. 

Clearly more than a half of the residential units under construction are rental
or right-of-occupancy apartments. Part of SRV's developer contracting
residential units is built under price regulated principles set by municipal
authorities. 

“After the recession, we boldly took action in building rental units in order
to have versatile mix in our residential housing portfolio. Thus we have
carried our share of social responsibility, since there is an increasing need
for rental apartments. SRV is now one of the biggest residential constructors
within Helsinki Metropolitan area”, says the President and CEO Jukka Hienonen. 

The latest contract SRV signed with Tarveasunnot Oy for two apartment houses in
Kerava. A month ago, SRV and Tarveasunnot made a deal for residential projects
in Espoo. Value of these contacts exceeds 40 million euro. 

SRV Group Plc
Taneli Hassinen
Director Communications
Tel. +358 40 504 3321
taneli.hasssinen@srv.fi