YIT CORPORATION STOCK EXCHANGE RELEASE AUGUST 29, 2003 13:00 1 (1)

ABB’S
BUILDING SYSTEMS BUSINESS IN THE NORDIC COUNTRIES, THE
BALTIC COUNTRIES AND
RUSSIA ARE TRANSFERRED TO YIT

On this day, YIT Corporation has paid to ABB
Ltd EUR 169.2 million
in cash for the purchase of ABB’s Building Systems
operations in
Finland, Sweden, Norway, Denmark, the Baltic countries and
Russia.
Building Systems offers technical building systems and property
and
industrial services.

The cash amount was determined in accordance with the
deal
agreement signed by YIT and ABB on July 4, 2003, such that the
negative
difference of the assets and liabilities of the balance
sheet items being
transferred in the asset purchase transactions
was subtracted from the
transaction value. The purchase price will
be finalized in November 2003, when
the audited balance sheet
calculations concerning the situation at the end of
August have
been completed.

The transaction had to be approved by the
competition authorities
before it entered into force. The Finnish Competition
Authority
approved the Finnish end of the deal on July 18, 2003, and
the
Swedish Competition Authority (Konkurrensverket) approved it on
July 23,
2003. The Lithuanian Competition Authority approved the
deal on August 28,
2003. The acquisition was consummated on August
29, 2003, and the business
functions were transferred to YIT on
the same day.

YIT is financing the
acquisition with debt capital.


YIT CORPORATION


Veikko
Myllyperkiö
Vice President, Corporate Communications


For additional
information, contact:
Reino Hanhinen, Group CEO, YIT Corporation, 
tel. +358
20 433 2454, reino.hanhinen@yit.fi
Esko Mäkelä, Executive Vice President, YIT
Corporation, 
tel. +358 20 433 2258,esko.makela@yit.fi
Veikko Myllyperkiö,
Vice President, Corporate Communications, YIT
Corporation, tel. +358 20 433
2297, veikko.myllyperkio@yit.fi
Sakari Toikkanen, Director of Corporate
Planning, YIT Corporation,
tel. +358 20 433 2336,
sakari.toikkanen@yit.fi

Juhani Pitkäkoski, President, YIT Installation Ltd,

tel. +358 20 433 3738, juhani.pitkakoski@yit.fi
Petra Thorén, Manager,
Investor Relations, YIT Corporation, 
tel. +358 20 433 2635,
petra.thoren@yit.fi


DISTRIBUTION:  Helsinki Exchanges, principal media,
www.yit.fi