1. August 2, 2002 1 YIT INSTALLAATIOT OY 12/2001 YIT Corporation Interim Report January-June 2002 YIT CORPORATION

2. August 2, 2002 2 YIT’s Group structure YIT CORPORATION Reino Hanhinen Group Administration Corporate Services YIT CONSTRUCTION LTD Ilpo Jalasjoki YIT CONSTRUCTION LTD Ilpo Jalasjoki Residential Construction Building Construction Property Services Infraservices International Operations Net sales 1-6/2002 MEUR 549 Personnel 6/2002 4,750 YIT INSTALLATION LTD Juhani Pitkäkoski YIT INSTALLATION LTD Juhani Pitkäkoski Capital Investment Services for Industry Industrial Maintenance Building Services Scandinavia Net sales 1-6/2002 MEUR 296 Personnel 6/2002 6,100 YIT PRIMATEL LTD Hannu Leinonen YIT PRIMATEL LTD Hannu Leinonen Fixed Networks Mobile Networks Property Networks Other Business Operations Net sales 6/2002 MEUR 13 Personnel 6/2002 1,650

3. August 2, 2002 3 Consolidated income statement EUR mill. Jan-Jun / 2002 Jan-Jun/ 2001 changeJan-Dec/ 2001 Net sales840.5785.77%1,623.1 Share of total international acitivities185.7145.328%330. 5 Operating income and expenses-788.0-724.39%-1,497.2 Depreciation and write-downs-8.0-7.91%-16.8 Amortization of goodwill on consolidation -5.3-4.615%-9.4 Operating profit39.248.9-20%99.7 % of net sales4.7%6.2%6.1% Financial income and expenses, net-5.8-5.55%-10.9 Profit before extraordinary items33.443.4-23%88.8 Extraordinary income00..0 Extraordinary expenses00..0 Profit before taxes33.443.4-23%88.8 Profit for the report period11.9 *)30.7-61%61.6 *) Taking into account the residual tax of EUR 10.9 million

4. August 2, 2002 4 Consolidated balance sheet EUR mill.Jun/2002Jun/2001changeDec/2001 ASSETS Intangible assets7.77.9-3%7.7 Goodwill on consolidation78.449.857%46.9 Tangible assets74.462.319%69.7 Investments Own shares7.22.7167%6.5 Other investments6.45.614%6.3 Inventories280.2243.315%259.3 Receivables550.8484.314%483.0 Marketable securities1.99.7-80%18.6 Cash and cash equivalents17.517.8-2%18.4 Total assets1,024.5883.416%916.4

5. August 2, 2002 5 Consolidated balance sheet EUR mill.Jun/2002Jun/2001changeDec/2001 SHAREHOLDERS’ EQUITY AND LIABILITIES Share capital59.358.81 %58.8 Other shareholders’ equity281.5260.78 %291.6 Minority interests2.61.663 %3.2 Provisions for liabilities and charges 11.410.59 %10.1 Long-term liabilities139.6145.0-4 %141.2 Current liabilities530.1406.830 %411.5 Total shareholders’ equity and liabilities1,024.5883.416 %916.4

6. August 2, 2002 6 Key figures Jun/20 02 Jun/2001changeDec/2001 Earnings/share, EUR0.411.06-61%2.14 Earnings/share, EUR *)0.79 Equity per share, EUR11.4810.866%11.92 Average share price, EUR16.3913.0426%12.66 Share price at end of period, EUR18.5013.1541%13.50 Net interest-bearing debt, EUR mill.156.3140.911%110.7 Return on investment (*1 July, 2001 – 30 June, 2002)18.1%*21.6% Equity ratio35.5%38.5%..40.3% Gearing ratio46.5%44.2%..31.9% Gross capital expenditures, EUR mill.52.355.3-5%75.1 Order backlog, EUR mill.879.9717.423%735.8 Average personnel10,9899,93011%10,118 *) Without residual tax of EUR 10.9 mill.

7. August 2, 2002 7 Net sales by division EUR mill.Jan-Jun/ 2002 Jan-Jun/ 2001 changeJul/2001- Jun/2002 Jan-Dec/ 2001 Building Construction318.8280.614%630.3592.1 Property Services106.990.918%203.2187.2 Infraservices48.758.2-16%106.0115.5 International Operations75.737.8100%158.2120.3 Other items-0.9 YIT CONSTRUCTION549.2467.517%1,096.81,015.1 YIT INSTALLATION295.6325.4-9%598.0627.8 YIT PRIMATEL *)12.5 Other items-16.8-7.2133%-29.4-19.8 YIT GROUP840.5785.77%1,677.91,623.1 *) On June 1, 2002 into the YIT Group

8. August 2, 2002 8 Building Construction MEUR 319 (37%) Infraservices MEUR 49 (6%) International Operations MEUR 76 (9%) YIT Primatel 13 Me (1 %) Total EUR 841 mill. share of total international activities EUR 186 mill. Property Services MEUR 107 (12%) Breakdown of net sales by division January – June 2002 Capital Investment Services for Industry MEUR 86 (10%) Industrial Maintenance MEUR 52 (5%) Scandinavia MEUR 98 (11%) Building Services MEUR 77 (9%)

9. August 2, 2002 9 Finland MEUR 654.8 (78%) Russia MEUR 18.0 (2%) Baltic countries MEUR 36.0 (4%) Others MEUR 12.6 (2%) Total EUR 840.5 mill. Sweden and Norway MEUR 119.1 (14%) Breakdown of net sales by area January – June 2002

10. August 2, 2002 10 Operating profit by division EUR mill.Jan-Jun/ 2002 Jan-Jun/ 2001 changeJul/2001- Jun/2002 Jan-Dec/ 2001 Building Construction24.625.6-4%48.149.1 Property Services7.412.7-42%17.422.7 Infraservices1.51.8-17%4.04.3 International Operations2.71.3108%8.57.1 Other items-3.8 YIT CONSTRUCTION32.437.6-14%74.279.4 YIT INSTALLATION9.213.6-32%20.524.9 YIT PRIMATEL *)2.0 Other items-4.4-2.391%-6.7-4.6 YIT GROUP39.248.9-20%90.099.7 *) On June 1, 2002 into the YIT Group

11. August 2, 2002 11 Order backlog by division EUR mill.Jun/ 2002 Jun/ 2001 changeDec/ 2001 Building Construction283.5254.012%240.6 Property Services129.0123.15%138.9 Infraservices67.852.729%51.3 International Operations124.360.3106%79.0 YIT CONSTRUCTION604.6490.123%509.8 YIT INSTALLATION221.7227.3-2%226.0 YIT PRIMATEL *)53.6 YIT GROUP879.9717.423%735.8 *) On June 1, 2002 into the YIT Group

12. August 2, 2002 12 Order backlog by quarter EUR million at end of period

13. August 2, 2002 13 Building Construction 15% Infraservices 6% International Operations 10% Total number of employees: 12,708 people of whom 2,675 are working in units outside Finland Property Services 6% Personnel by division June 2002 Capital Investment Services for Industry 13% Industrial Maintenance 12% Others 2% Scandinavia 12% Primatel 13% Building Services 11%

14. August 2, 2002 14 Target levels for financial indicators  Average annual growth in net sales 10 – 15%  Return on investment 18%  Equity ratio 45%  Dividend payout 30 – 50% of the net profit for the year after taxes and minority interests

15. August 2, 2002 15 Net sales and operating profit 1997 – January-June 2002 Net sales (EUR mill.)Operating profit (EUR mill.) Target level: Annual growth 10 - 15% 1-6

16. August 2, 2002 16 Net sales by quarter 1999 – Q2/2002 MEUR

17. August 2, 2002 17 Operating profit by quarter 1999 – Q2/2002 MEUR

18. August 2, 2002 18 Return on investment and equity ratio 1997 – June 2002 Return on investment, % Equity ratio, % Target level: 18% Target level: 45% 6/01 6/02 1.7.2001- 30.6.2002

19. August 2, 2002 19 Net interest-bearing debt and gearing ratio 1997 – June 2002 Net debt (EUR mill.)Gearing ratio, % 6/01 6/02

20. August 2, 2002 20 Principal Shareholders July 31, 2002 No. % 1. Tapiola Group 3,568,245 12.04 2. Suomi Group 2,937,370 9.91 3. Sampo Group 2,767,780 9.34 4. Varma-Sampo Mutual Pension Ins.Co 2,161,352 7.29 5. Pohjola Group 1,613,500 5.44 6. Ilmarinen Mutual Pension Ins.Co 1,175,800 3.97 7. Kaleva Mutual Insurance Company 666,000 2.25 8. Local Government Pensions Inst. 600,000 2.02 9. YIT Corporation 567,300 1.91 10. LEL Employment Pension Fund 353,700 1.19 Nominee-registered 6,355,159 21.45 Other shareholders 6,867,479 23,19 Total 29,633,685100.00 Total number of shareholders 2,943. Nominal value of the share 2 euros. Share capital EUR 59,267,370.

21. August 2, 2002 21 Nominee-registered shareholders at end of month 1997 – 2002, percentage of equity + Other foreign ownership June/2000 - 2002 19971998199920002001 2002

22. August 2, 2002 22 Source: Kauppalehti Online, August 1, 2002 YIT share and HEX portfolio index, relative development YIT HEX

23. August 2, 2002 23 Dividend payout 1997 - 2001 Dividend/share EUR Dividend payout % of annual profit YIT’s dividend policy: 30 – 50% of the annual profit after taxes and minority interests

24. August 2, 2002 24 Total output by main branches in Finland Source: Statistics Finland/TT, June 2002 Services Industry Construction GDP Vol.index 1985 = 100, season adjusted

25. August 2, 2002 25 Volume of construction industry in Finland (1975 = 100) Source: Statistics Finland; forecast by ETLA, June 2002 Civil Engineering Building Construction

26. August 2, 2002 26 Migration between municipalities in Finland people Source: Statistics Finland, July 2002 January- June/2002: 126,515 (January- June/2001: 131,900)

27. August 2, 2002 27 Withdrawals of housing loans and interest rate of new loans in Finland MEUR % Source: Bank of Finland, July 2002

28. August 2, 2002 28 Number of start-ups in YIT’s housing production in Finland number 2,943 2,791 2,634 2,944 3,169 1,507 1,357 3,300- 3,500 *forecast

29. August 2, 2002 29 Rental price index of office premises (Helsinki CBD) and vacancy rate (Greater Helsinki Area) Source: Catella Property Consultants/Rakli, June 2002 Rental price index Vacancy rate Rental price index Vacancy rate

30. August 2, 2002 30 Industrial investments in Finland 1980 - 2002 EUR billion, current prices Source: Statistics Finland/TT, June 2002 TT’s Investment Survey Tangible investments/Statistics Finland

31. August 2, 2002 31 The market potential of Finland’s fifth nuclear power plant from YIT’s standpoint EUR mill. Area and infra works20 Construction of auxiliary buildings80 Construction of the power plant300 Industrial piping systems and tanks150 Building service systems100 Total600-700

32. August 2, 2002 32 Swedish market Economy is growing Positive outlook for growth –production is growing –energy investments –Snöhvit-project in Norway Construction swinging to growth –construction of new buildings still contracted –renovations growing buoyantly Growth estimates for GDP and construction Sources: OECD, 4/2002; Euroconstruct, 6/2002

33. August 2, 2002 33 The Baltic countries and Russia Growth more rapid than in the Nordic countries Growth slightly slowing down, but improving next year Construction growing faster than GDP Demand for modern residences commenced More investments in industry and environment Growth estimates for GDP Sources: OECD, 4/2002; EIU, 1-3/2002

34. August 2, 2002 34 Outlook for telecommunication market The market for network construction and maintenance are opening Volume of information to be transferred by nets is growing The number of ADSL and other broadband connections by consumers is growing vigorously –Sonera had about 30,000 (3,000) connections in June and about 15,000 in the order book New potential for network construction in the country, construction of new areas going on Further construction of mobile networks starting in Russia

35. August 2, 2002 35 YIT Primatel’s market development by business areas (EUR mill.)

36. August 2, 2002 36 Change into ”Other Services” group of the main list - Why? YIT is a company providing total services more extensively than ever –acquisitions have expanded the scope of services (the latest one YIT Primatel in the spring) –industrial services and telecommunciation networks generate almost half of net sales –maintenance about one fourth of net sales In line with the strategy YIT will also increase –operations in the Nordic industrial services and HEPACE contracting market as well as –share of maintenance in net sales The companies of the Other Services group, such as Jaakko Pöyry and Lassila & Tikanoja, are more comparable companies when evaluating YIT

37. August 2, 2002 37 DESIGN AND IMPLEMENTATION MAINTENANCE AND OPERATION Properties Industry Infrastructure YIT in brief Telecommunication networks Net sales EUR 1.8 billion in 2001 (Primatel included) Personnel about 12,700 Main market area Besides Finland Scandinavia, the Baltic countries and Russia

38. August 2, 2002 38 YIT’s strategic path Developer Building constructor HEPACE contractor Tele constructor Contractor Earthworks constructor Maintenance company Service provider contents of service chain for life cycle scope of service provided

39. August 2, 2002 39 The companies listed on the Main list of HEX under the group Other Services Other Services P/E multiple*) Aldata Solution29 Jaakko Pöyry13 Lassila & Tikanoja19 Novo Group16 Rakentajain Konevuokraamo B 5 Ramirent 8 Tietoenator 7 YIT Corporation 8 *) Taloussanomat July 31, 2002

40. August 2, 2002 40 Examples of P/E multiples in comparable companies in 2001 CompanyP/E*)Net sales MEUR Construction MEUR/% Operating profit MEUR Construction MEUR/% Amec UK 10.37,251.84,440.9 61% 246.3 3.4% 127.9 2.9% Carillion UK 16.43,167.42,197.1 69% 88.5 2.8% 41.0 1.9% Dragados Spain 11.65,500.64,228.8 77% 351.6 6.4% 258.3 6.1% YIT Finland 7.61,623.11,015.1 61% 99.7 6.1% 79.5 7.8% Lassila & Tikanoja Finland 19.4245.80.0 0% 26.3 10.7% 0.0 0.0% NEA Sweden 11.5185.60.0 0% 13.7 7.4% 0.0 0.0% Skanska Sweden 1,09018,209.217,726.8 97% 350.4 1.9% 40.1 0.2% *) Share price at July 29, 2002; earnings in 2001

41. August 2, 2002 41 More information on our site at www.yit.fi