YIT - Company Announcement

YIT, DESTIA, MERIDIAM AND ILMARINEN CONSORTIUM TO CARRY OUT THE E18 MOTORWAY BETWEEN KOSKENKYLÄ AND KOTKA ACCORDING TO THE ACQUISITION DECISION MADE BY THE FINNISH TRANSPORT AGENCY

Helsinki, 2011-11-21 15:00 CET (GLOBE NEWSWIRE) -- YIT CORPORATION             
STOCK EXCHANGE RELEASE                   NOVEMBER 21, 2011 AT 4:00 P.M. 


YIT, DESTIA, MERIDIAM AND ILMARINEN CONSORTIUM TO CARRY OUT THE E18 MOTORWAY
BETWEEN KOSKENKYLÄ AND KOTKA ACCORDING TO THE ACQUISITION DECISION MADE BY THE
FINNISH TRANSPORT AGENCY 

The Finnish Transport Agency has made an acquisition decision whereby a
consortium formed by YIT, Destia, Meridiam Infrastructure Projects S.á.r.l and
Ilmarinen Mutual Pension Insurance Company will carry out the E18 motorway
between Koskenkylä and Kotka. A service agreement will be signed after the
appeal period of the acquisition decision, in approximately two weeks, provided
that the final funding arrangements of the project are realised. To confirm the
motorway completion time, the Finnish Transport Agency and the consortium have
agreed that preparatory construction will commence before the final agreement
is signed. The motorway is estimated to be fully completed in 2015. The Finnish
Transport Agency has been granted a contract authorisation of EUR 650 million
to carry out the project. 

The motorway between Koskenkylä and Kotka will be carried out using the life
cycle model, whereby the Finnish Transport Agency orders an entity consisting
of the design, construction, maintenance and financing of the motorway from the
consortium based on the aforementioned contract authorisation. A working
consortium that consists of YIT and Destia is responsible for carrying out the
project. The goal is to partially open the approximately 53-kilometre motorway
for traffic in 2013, and the full opening will take place during 2014. After
the completion of the road section, the consortium will be responsible for the
maintenance and financing of the road until 2026. 

In Finland, the life cycle model has been utilised previously in the
implementation of the Lahti motorway and the motorway between Muurla and Lohja. 



For additional information, please contact:

Jaakko Kouvalainen, Development Manager, YIT Rakennus Oy, tel. +358 40 546
8073, jaakko.kouvalainen@yit.fi 
Hanna-Maria Heikkinen, Vice President, Investor Relations, +358 20 433 2635,
hanna-maria.heikkinen@yit.fi 



YIT CORPORATION

Hanna-Maria Heikkinen
Vice President, Investor Relations


Distribution: NASDAQ OMX, principal media, www.yitgroup.com

YIT is a leading European service company in building systems, construction
services and services for industry. We build, develop and maintain quality
living environments in the Nordic countries, Central Europe, Russia and the
Baltic countries. In 2010, YIT's turnover was EUR 3.8 billion. The Group has
approximately 26,000 employees. YIT's shares are listed on NASDAQ OMX Helsinki.
www.yitgroup.com.