YIT AND EVLI SIGN THE AGREEMENT ON EUR 100 MILLION REAL ESTATE DEVELOPMENT PROJECTS IN ST PETERSBURG

YIT Lentek and Evli Bank's real estate equity fund EPI (Evli Property            Investments) Russia have signed the final agreement to implement office building and logistics centre projects on YIT's plots in St Petersburg. The total value   of the projects is about EUR 100 million. The parties signed the letter of       intent regarding the projects on November 2, 2006.                              

The agreement comprises the construction of a 10,000 m2 office building in St    Petersburg and a 75,000 m2 logistics centre in Gorelovo, next to Pulkovo, the    international airport of St Petersburg. In addition, YIT has reserved EPI Russia the right to expand the logistics centre by about 100,000 m2.                   

Construction of the office building has begun in 2006. Construction of the       logistics centre will begin in summer 2007. Both projects are scheduled to be    completed during first part of 2008.                                            

YIT published a stock exchange release regarding signing the letter of intent on November 3, 2006. Evli's press releases can be found at www.evli.com.           

For additional information, contact:                                             Juha Vättö, General Director, ZAO YIT Lentek, +358 400 558 164                   Peter Forssell,                                                                  Real estate development director, ZAO YIT Lentek, +358 40 532 2273,              peter.forssell@yit.ru                                                           



YIT CORPORATION                                                                 

 Veikko Myllyperkiö                                                               Vice President, Corporate Communications                                        

Distribution: Helsinki Stock Exchange, principal media, www.yitgroup.com