YIT
Company Announcement

Management and Management Boards of Caverion Corporation and YIT Corporation – Conditional decision by YIT’s Board of Directors

Helsinki, Finland, 2013-05-03 13:05 CEST -- YIT Corporation          STOCK EXCHANGE RELEASE       May 3, 2013 at 14:05 p.m.

Management and Management Boards of Caverion Corporation and YIT Corporation – Conditional decision by YIT’s Board of Directors

The Board of Directors of YIT Corporation has conditionally appointed Juhani Pitkäkoski as President and CEO of Caverion Corporation in accordance with the proposal of its Personnel Committee.

At the same time, the following persons were appointed conditionally as members of Caverion’s Management Board: Karl-Walter Schuster, Building Services Central Europe and Project Excellence; Matti Malmberg, Building Services Northern Europe and Service Efficiency; Antti Heinola, CFO; Sakari Toikkanen, Business Development; Marcus Kerriou, Human Resources; Päivi Alakuijala, Communications; and Division Directors: Jarno Hacklin, Erkki Huusko, Ulf Kareliusson, Peter Rafn, Knut Gaseruud, Ralf Lutz and Manfred Simmet.

YIT Corporation’s Board of Directors has also conditionally appointed Kari Kauniskangas as the President and CEO of YIT Corporation and Tero Kiviniemi as his deputy.

Furthermore, the following persons were appointed as members of YIT Corporation’s Management Board: Timo Lehtinen, CFO; Pii Raulo, Human Resources; Juhani Nummi, Business Development; and Division Directors: Harri Isoviita, Matti Koskela, Timo Lehmus, Jouni Forsman, Tom Sandvik, Teemu Helppolainen, Mikhail Voziyanov and Yuri Belomestnov.

If YIT's Extraordinary General Meeting of shareholders of June 17, 2013, approves the partial demerger of YIT, the appointments will take effect on the registration date of the demerger implementation, planned for June 30, 2013.

For further information, please contact:

Juhani Pitkäkoski, President and CEO, juhani.pitkakoski@yit.fi

Kari Kauniskangas, Deputy CEO, kari.kauniskangas@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. Our 25,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. For over one hundred years we have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2012, YIT’s revenue was approximately EUR 4.7 billion. YIT’s shares are listed on the NASDAQ OMX Helsinki. www.yitgroup.com

DISCLAIMER

This announcement is not an offer of securities for sale in any jurisdiction.

No securities are being registered under the US Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. No public offering of securities is being made in the United States.

This release includes forward-looking statements. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this communication, including, without limitation, those regarding the demerger plan and its execution. By their nature, forward looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Such statements are based on numerous assumptions and may differ materially from (and be significantly more negative than) those made in, or suggested by, the forward-looking statements contained in this release.