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2016-03-15

YIT Oyj: YIT Corporation's Annual General Meeting on March 15, 2016: President and CEO Kari Kauniskangas comments on the first quarter's development

YIT CORPORATION Stock exchange release March 15, 2016 at 9:00 a.m.

YIT Corporation will hold its Annual General Meeting today, March 15,
2016 at 10:00 a.m. in Helsinki, Finland. The President and CEO Kari
Kauniskangas will present a review of YIT's Financial Statements for
2015 as well as the outlook for the present year. In addition,
President and CEO Kauniskangas will briefly comment on the first
quarter's development.

"The year has started actively for us. The Tripla project in Central
Pasila has progressed as planned; we signed the purchase agreement
for the land areas in early March, and negotiations with investors
are progressing. We have started new self-developed business premises
projects and won both business premises and infrastructure contracts
during the beginning of the year. These projects support our strong
order backlog in the Business Premises and Infrastructure segment.

In Finland, the sales of new residential projects has started well,
but the overall volume of consumer sales has remained at the average
level of the previous years. The sales of apartments has remained
high in the CEE countries. In Russia, apartment sales has remained
below the extraordinarily strong level of the first quarter of 2015.
A large part of the apartments sold at the start of the year have
been sold within new projects that were started in the winter, which
means they will have little effect on the revenue and result of the
first quarter. We stated already in our guidance for 2016 that we
expect our adjusted operating profit to be the lowest in the first
quarter," says Kari Kauniskangas, President and CEO.

The estimates for the first quarter's consumer sales are: over 300
apartments in Finland (Q1/2015: 271), over 750 apartments in Russia
(Q1/2015: 967) and below 200 apartments in the CEE countries
(Q1/2015: 192).

The invitation to the Annual General Meeting and the Board of
Directors' proposals to the Annual General Meeting were published in
a stock exchange release on February 5, 2016. An amendment to the
Board of Directors' proposal regarding the members of the Board of
Directors was published in a stock exchange release on March 3, 2016.
The Annual General Meeting material and the presentation of the
review of the President and CEO Kari Kauniskangas are available on
the YIT website at www.yitgroup.com/agm2016.

YIT CORPORATION

Sanna Kaje
Vice President, Investor Relations and M&A

Distribution: NASDAQ Helsinki, principal media, www.yitgroup.com

YIT is a construction industry leader that creates sustainable urban
environments by constructing housing, business premises,
infrastructure and entire areas. We focus on providing a first-class
customer experience, high quality and continuous development of our
diverse expertise. Our operating area covers Finland, Russia, the
Baltic countries, the Czech Republic, Slovakia and Poland. Our vision
is to stay one step ahead - while caring for our customers, partners
and personnel. We have over 5,300 employees in eight countries. In
2015, our revenue amounted to nearly EUR 1.7 billion. Our share is
listed on Nasdaq OMX Helsinki. www.yitgroup.com

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http://news.cision.com/yit-oyj/r/yit-corporation-s-annual-general-meetin...

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