Articles of Association

Translation from Finnish original.

(Articles of Association in force March 30, 2007)

ARTICLES OF ASSOCIATION OF THE YIT CORPORATION

1 § The trading title of the Company shall be YIT Oyj in Finnish, YIT Abp in Swedish and YIT Corporation in English. The Company's registered office is located in Helsinki, Finland.

2 § The objects of the Company are to engage in production in the construction industry, manufacture and leasing of and trade with building materials and components, and building engineering, network services and industrial turn-key projects, including operation, servicing and maintenance activities related to the foregoing in Finland and abroad. In addition to the foregoing activities, the Company shall buy and sell real estate property and shares in real estate and housing companies as well as lease and maintain apartments and properties complete with buildings and facilities and engage in other activities related to the foregoing. The Company may also trade in securities. The Company may engage in the activities in accordance with its declared objects either directly and/or through its subsidiaries and affiliated companies and joint ventures. In its capacity as the parent company in the Group, the Company may assume responsibility for the administration, human resources management, finances, legal affairs and communications on behalf of the Group and other joint services and tasks.

3 § The Company's shares are included in the Book Entry Securities System.

4 § For the proper administration and organization of the Company's affairs, the Company shall have a Board of Directors consisting of a Chairman and Vice Chairman appointed by the general meeting of shareholders as well as a minimum of three (3) and maximum of five (5) members. No person over 68 may be appointed to the Board of Directors.

The term of each member of the Board of Directors shall begin at the general meeting of shareholders at which he or she is elected and expire at the end of the next Annual General Meeting of Shareholders following election.

The meetings of the Board of Directors shall be called by the Chairman – or, if the chairman is prevented from calling the meeting, by the vice chairman – and constitute a quorum when more than half of the members are present. All resolutions shall be passed by simple majority, and in case of a tie, the Chairman – or if he is prevented from attending, the vice chairman – shall have the casting vote.

5 § The Company shall have a Managing Director to be appointed by the Board of Directors.

6 § The Company is represented severally by the Managing Director, or jointly by any two members of the Board of Directors. The Board of Directors may grant an appointed person the right to represent the Company with either a Board member or another person authorized to do so. In addition, the Company may grant powers of procuration such that the holder of procuration may represent the Company either with a Board member or another person authorized to do so.

7 § The Company's accounting period shall be one calendar year.

The Company shall have one Auditor that shall be an auditing firm approved by the Central Chamber of Commerce. The Auditor's term shall cover the current financial year at the time of election and expire at the end of the next Annual General Meeting of Shareholders following election.

8 § The Annual General Meeting of Shareholders shall be held annually by the end of March.

An extraordinary meeting of shareholders shall be held whenever deemed appropriate by the Board of Directors or when so required by law.

The notice of the general meeting of shareholders shall be published in a national newspaper selected by the Board of Directors and otherwise in accordance with the applicable provisions of the Companies Act.

To be able to attend the general meeting of shareholders, the shareholders shall notify the Company thereof by the date indicated in the notice of the meeting which may be no earlier than ten days before the meeting. Additionally, the provisions of the Companies Act concerning the right to attend the general meeting of shareholders of a company included in the Book Entry Securities System shall apply.

9 § The Annual General Meeting of Shareholders shall

be presented with:
1) the financial statements and Report of the Board of Directors;,
2) Auditor's report; and

pass resolutions on:
3) the adoption of the financial statements and the consolidated financial statements;
4) any measures called for by the profit or loss shown on the balance sheet;
5) the record date referred to in the Book Entry Securities System,
6) discharge from liability for the Managing Director and the members of the Board of Directors;
7) the number of members on the Board of Directors and their remuneration, and
8) remuneration of the Auditor; and

elect:
9) the chairman, vice chairman and members of the Board of Directors, and
10) the Auditor.

Finally, all the other issues indicated in the notice of the meeting shall be addressed.

10 § Disputes on the application of the Companies Act shall be resolved by an arbitration tribunal comprising one arbitrator, rather than in a district court, and in compliance with the rules of the Board of Arbitration of the Central Chamber of Commerce of Finland. The arbitration shall take place in Helsinki.

Updated April 3, 2007
InvestorRelations@yit.fi