YIT CORPORATION           STOCK EXCHANGE RELEASE      May 29, 2008 at 11.00    




YIT STARTS UP HOUSING CONSTRUCTION IN THE CZECH REPUBLIC               
        

On this day, May 29, 2008, YIT Construction Ltd has signed an
acquisition       
agreement with a target of starting up housing construction
in the Czech        
Republic. The acquisition gives YIT a foothold in a new
market in line with its 
strategy.                                            
                          

The acquired company, Euro Stavokonsult s.r.o.,
was established in 1990 and     
provides developer, design and project
management services for domestic and     
foreign investors. YIT's initial
holding in the company is 85 per cent, with the
remaining 15 per cent held by
the executives of the acquired company. The       
company will be named YIT
Stavo.                                                

In YIT Stavo the
local contact network, expertise and market know how of Euro   
Stavokonsult
will be combined with YIT's housing concept. The target is to start
the
construction of the first sites in spring 2009. The company will focus on  

Prague and its surroundings.                                                 
  

According to the Czech Statistical Office, the construction of about
42,000     
residential units was started up in the Czech Republic in 2007.
Residential     
start-ups in the January-March period of 2008 saw growth of
four per cent on the
previous year.                                           
                      

YIT currently builds housing in Finland, Russia and
the Baltic countries. The   
company's strategic target is to expand
International Construction Services in  
Russia and Central Eastern Europe. At
the end of March 2008, YIT had a total of 
about 13,500 residential units
under construction.                              

For further information,
please contact:                                        
Kari Kauniskangas,
President, International Construction Services, +358 40 519  
0198,
kari.kauniskangas@yit.fi                                                 

Petra Thorén, Senior Vice President, Investor Relations, +358 40 764 5462,   
  
petra.thoren@yit.fi                                                        
    


YIT CORPORATION                                                      
          


Juha Kostiainen                                                
                
Vice President, Corporate Communications and Business
Development               

Distribution: OMX Nordic Exchange in Helsinki,
principal media, www.yitgroup.com


YIT is a leading service company in
building systems, construction services and 
services for industry in Northern
Europe. We build, develop and maintain the    
technical structures of the
living environment in Finland, Sweden, Norway,      
Denmark, Estonia, Latvia,
Lithuania and Russia. In 2007 YIT's revenue amounted  
to EUR 3.7 billion and
number of employees was over 23,000. YIT's share is      
quoted in OMX Nordic
Exchange in Helsinki.