YIT Group Financial Statements 2002 Reino Hanhinen 13.2.2003 | YIT-YHTYMÄ OYJ

YIT’s Group Structure YIT CORPORATION Reino Hanhinen Group Administration Corporate Services YIT CONSTRUCTION LTD Ilpo Jalasjoki YIT INSTALLATION LTD Juhani Pitkäkoski YIT PRIMATEL LTD Hannu Leinonen Residential Construction Building Construction Property Services Infraservices International Operations Capital Investment Services for Industry Industrial Maintenance Building Systems Scandinavia Property Networks Mobile Networks Fixed Networks Net sales 2002 MEUR 1 112 Personnel 4, 850 Net sales 2002 MEUR 582 Personnel 5,900 Net sales 6-12/2002 MEUR 96 Personnel 1,600 13.2.2003 | YIT-YHTYMÄ OYJ

Events in 2002 YIT was recategorized on Helsinki Exchanges from the Construction Business Sector to the Other Services Business Sector. Net sales growth 9 %, amount EUR 1 763 million. Return on investment at a good level of 17.8 %. YIT’s service chain was extended by the acquisition of Primatel on 24th April 2002 giving the option to future growth in the field of infrastructure. The share of net sales accounted for by service and maintenance was 24 %. The share of net sales accounted for by international activities was 22 %. Backlog of orders growth 28 %. Plot reserves considerably strengthened in the greater Helsinki region. Housing development started in St. Petersburg and the Baltic countries. 13.2.2003 | YIT-YHTYMÄ OYJ

Corporate Governance YIT won the price of best Investor Relations among Finnish small cap companies in the IR Magazine Nordic 2002 awards. YIT was ranked number one in the ability to meet market expectations on an earnings per share basis among 34 of the most covered Finnish companies. The results give credit to YIT:s consistent and reliable investor relations communications policy. YIT was ranked number three in shareholder accountability and number five in the corporate board index in the Finnish Corporate Board Evaluation study in November 2002. YIT ranked number four by students in the research of the most popular future employers among companies within the technical sector following NOKIA, VTT and UPM-Kymmene . 13.2.2003 | YIT-YHTYMÄ OYJ

YIT Share and HEX Portfolio Index, Relative Development Source: Kauppalehti Online, 7 Feb. 2003 13.2.2003 | YIT-YHTYMÄ OYJ

Strategy of International Expansion YIT Installation Stronger market position for YIT Construction and YIT Primatel in the Baltic countries and Russia The Baltic countries - AS FKSM, Tallinn - AS Makroflex, Tallinn - AB Kausta, Kaunas - YIT Latvija SIA, Riga Russia - ZAO Lentek, St. Petersburg - ZAO YIT Genstroi, Moscow - net sales EUR 170 mill. - personnel 1 300 Stronger market position for YIT Installation in the Nordic countries Finland - net sales EUR 410 mill. - personnel 4 100 - local offices 58 Other Nordic countries (Calor) - net sales EUR 200 mill. - personnel 1 600 - local offices: in Sweden 75 and in Norway 2 YIT Construction YIT Primatel 13.2.2003 | YIT-YHTYMÄ OYJ

YIT’s Service Chain Spanning the Entire Life Cycle The life cycle strategy seeks to achieve better service capability, growth in the business operations and a steadier stream of profits. Industrial maintenance YIT Service (1996) Maintenance and service for technical building systems YIT Huber (1996), Calor (2001) Property maintenance YIT Rapido (1999) Road and street maintenance Finnish Road Administration, Oulunsalo (2001) Telecom network maintenance YIT Primatel (2002) 13.2.2003 | YIT-YHTYMÄ OYJ

YIT’s Plot Reserves for Housing Production (owned + preliminary agreement) Helsinki + surround. 500 000 m2 Hämeenlinna 30 000 m2 Lahti 30 000 m2 Turku + surroundings 115 000 m2 Tampere + surround. 130 000 m2 Jyväskylä 45 000 m2 Kuopio 12 000 m2 Oulu 65 000 m2 Total about 900 000 m2 13.2.2003 | YIT-YHTYMÄ OYJ

Number of Start-ups in YIT´s Housing Production 3 278 3 169 2 943 2 944 2 791 2 634 13.2.2003 | YIT-YHTYMÄ OYJ

Consolidated Income Statement EUR million 2002 2001 Change Net sales 1,763.0 1,623.1 9 % of which share of intl. operations 386.9 330.5 17 % Operating income and expenses -1,643.5 -1,497.2 10 % Depreciation and write-downs -16.9 -16.8 1 % Goodwill depreciation -12.8 -9.4 36 % Operating profit 89.8 99.7 -10 % % of net sales 5.1 % 6.1 % Financial income and expenses (net) -12.2 -10.9 12 % Profit before extraordinary items 77.6 88.8 -13 % Extraordinary income Extraordinary expenses Profit before taxes Profit for the period 43.0 61.6 -30 % 13.2.2003 | YIT-YHTYMÄ OYJ

Consolidated Balance Sheet EUR million 2002 2001 Change ASSETS Intangible assets 9.7 7.7 26 % Goodwill 71.8 46.9 53 % Tangible assets 61.9 69.7 -11 % Investments Own shares 7.2 6.5 11 % Other investments 7.1 6.3 13 % Inventories 338.1 259.3 30 % Receivables 503.5 483.0 4 % Marketable securities 10.7 18.6 -42 % Cash and cash equivalents 28.2 18.4 Assets total 1,038.2 916.4 13.2.2003 | YIT-YHTYMÄ OYJ

Consolidated Balance Sheet EUR million 2002 2001 Change LIABILITIES Share capital 59.5 58.8 1 % Other shareholders’ equity 313.7 291.6 8 % Minority interests 2.9 3.2 -9 % Provisions for liabilities and charges 14.2 10.1 41 % Non-current liabilities 138.2 141.2 -2 % Current liabilities 509.7 411.5 24 % Liabilities total 1,038.2 9,164 13 % 13.2.2003 | YIT-YHTYMÄ OYJ

*) Proposal of Board of Directors Key Figures 2002 2001 Change Return on investment 17.8 % 21.6 % Return on equity 12.2 % 19.1 % Equity ratio 38.2 % 40.3 % Net interest-bearing debt, EUR mill. 104.1 110.7 -6 % Gearing ratio 28.% 31.9 % Earnings/share, EUR 1.49 2.14 -30 % Earnings/share excl. residual tax 1.86 Equity/share, EUR 12.54 11.92 5 % Dividend/share, EUR 0.90*) 0.85 6 % Dividend/earnings 60.4 %*) 39.7 % Dividend/earnings excl. residual tax 48.4 %*) P/E-multiple 11.3 6.3 Backlog of orders, EUR million 9388 735.8 28 % Personnel, average 11,990 10,118 19 % *) Proposal of Board of Directors 13.2.2003 | YIT-YHTYMÄ OYJ

Net Sales by Division in 2002 Building Construction EUR 619 million (35%) YIT Primatel *) EUR 96 mill. (5 %) Property Services EUR 207 mill. (11%) *) 6 – 12/ 2002 Scandinavia EUR 201 mill. (11 %) Infraservices EUR 119 mill. (7%) Industrial Maintenance EUR 104 mill. (5 %) International Operations EUR 168 mill. (9%) Industrial Investments EUR 163 mill. (9 %) Technical Building Services EUR 146 mill. (8%) Total EUR 1, 763 million share of international business EUR 387 million 13.2.2003 | YIT-YHTYMÄ OYJ

Net Sales by Area in 2002 Total EUR 1,763 million Others Russia EUR 41 mill. (2%) Finland EUR 1 376 mill. (78 %) The Baltic countries EUR 97 mill. (6 %) Other Nordic Countries EUR 228 mill. (13 %) Total EUR 1,763 million 13.2.2003 | YIT-YHTYMÄ OYJ

*) On June 1, 2002 into the YIT Group Operating Profit by Division in 2002 Building Construction EUR 49.3 million (49 %) YIT Primatel *) EUR 6.0 mill. (6 %) YIT Installation EUR 21.1 million (22 %) Property Services EUR 13.1 million (13 %) International Operations EUR 6.2 million (6 %) Infraservices EUR 4.1 million (4 %) *) On June 1, 2002 into the YIT Group Total EUR 89,8 million 13.2.2003 | YIT-YHTYMÄ OYJ

*) On June 1, 2002 into the YIT Group Operating Profit EUR million 2002 2001 YIT CONSTRUCTION 70.3 79.4 YIT INSTALLATION 21.1 24.9 YIT PRIMATEL*) 6.0 YIT-CORPORATION 89.8 99.7 *) On June 1, 2002 into the YIT Group 13.2.2003 | YIT-YHTYMÄ OYJ

Backlog of Orders by Quarter EUR million at the end of the period 13.2.2003 | YIT-YHTYMÄ OYJ

Target Levels for Financial Indicators Average annual growth in net sales 10 – 15% Return on investment 18% Equity ratio 40% Dividend payout 30 – 50% of the net profit for the year after taxes and minority interests 13.2.2003 | YIT-YHTYMÄ OYJ

Net Sales and Operating Profit 1998 - 2002 Net sales (EUR million) Operating profit (EUR million) Target level: Annual growth 10 - 15% 13.2.2003 | YIT-YHTYMÄ OYJ

Return on Investment and Equity Ratio 1998 – 2002 Target level: 18% Target level: 40% 13.2.2003 | YIT-YHTYMÄ OYJ

*) On June 1, 2002 into the YIT Group Return on Investment by Division 2002 2001 Building Construction 22.0 % 23.4 % Property Services 13.3 % 23.7 % Infraservices 22.6 % 21.4 % International Operations 12.5 % 22.4 % YIT Construction 19.6 % 23.3 % YIT Installation 25.0 % 32.1 % YIT Primatel *) 22.8 % YIT Group 17.8 % 21.6 % *) On June 1, 2002 into the YIT Group 13.2.2003 | YIT-YHTYMÄ OYJ

Net Interest-bearing Debt and Gearing Ratio 1998 – 2002 Net interest-bearing debt (EUR million) Gearing ratio, % 13.2.2003 | YIT-YHTYMÄ OYJ

Free Cash Flow 2002 2001 Cash flow from operating activities 119 964 EUR 1 000 2002 2001 Cash flow from operating activities 119 964 114 189 Change in working capital 7 015 -41 024 Net capital expenditure -48 625 -10 391 Pre-tax operating cash flow 78 354 62 774 Net financial income/expenses -12 473 -8 903 Dividends received 88 237 Taxes paid -37 935 -24 197 Cash flow from financing activities -26 112 -5 587 Liquid assets at January 1 37 016 12 692 Liquid assets at December 31 38 938 Change in liquid assets 1 922 24 324 13.2.2003 | YIT-YHTYMÄ OYJ

Earnings per Share and Equity per Share 1998 – 2002 Equity/share, EUR Earnings/share, EUR Equity/share, EUR * *excl. residual tax 13.2.2003 | YIT-YHTYMÄ OYJ

Dividend Payout 1998 - 2002 Dividend payout % of annual profit Dividend/share EUR Dividend payout % of annual profit *) *) ** *) Proposal of Board of Directors YIT´s dividend policy: 30 – 50% of the annual profit after taxes and minority interests ** excl. residual tax 13.2.2003 | YIT-YHTYMÄ OYJ

Total number of shareholders 3,263, nominal value of share EUR 2. Principal Shareholders Dec. 31, 2002 No. % 1. Suomi Group 2,937,370 9.87 2. Tapiola Group 2,922,445 9.82 3. Sampo Life Insurance Company Ltd 2,667,780 8.97 4. Varma-Sampo Mutual Pension Ins.Co 2,161,352 7.27 5. Pohjola Group 1,631,500 5.48 6. Ilmarinen Mutual Pension Ins.Co 1,180,800 3.97 7. Kaleva Mutual Insurance Company 766,000 2.58 8. Local Government Pensions Inst. 645,796 2.17 9. YIT Corporation 567,500 1.91 10. LEL Employment Pension Fund 407,700 1.37 Nominee-registered 6,574,696 22.10 Other shareholders 7,284,396 24.49 Total 29,746,335 100.00 Total number of shareholders 3,263, nominal value of share EUR 2. Share capital EUR 59,492,670. 13.2.2003 | YIT-YHTYMÄ OYJ

Nominee-registered Shareholders at End of Month 1997 – Dec/2002, Percentage of Equity + Other Foreign Ownership June/2000 – Dec/2002 1997 1998 1999 2000 2001 2002 13.2.2003 | YIT-YHTYMÄ OYJ

Corporate Governance Shareholder accountability Corporate board index* 1 2 3 4 5 6 7 8 9 10 Nokia UPM-Kymmene YIT-Yhtymä Nokian Renkaat Amer Group Uponor CapMan Stora Enso Instrumentarium Finnlines Nokia UPM-Kymmene Vaisala Nokian Renkaat YIT-Yhtymä Tietoenator Stora Enso Amer Group Instrumentarium KCI Konecranes *The corporate board index includes board independence, accountability to shareholders and board quality. YIT was ranked number three in shareholder accountability and number five in the corporate board index by analysts and asset managers in the Finnish Corporate Board Evaluation study in November 2002. The study included 43 of the largest companies listed on HEX. Source: LTT Research Ltd, November 2002 13.2.2003 | YIT-YHTYMÄ OYJ

Earnings per share predictability Finnish companies Average company score Building materials YIT was ranked number one in the ability to meet market expectations on an earnings per share basis. The results give credit to YIT:s consistent and reliable investor relations communications policy. The research included 34 of the most covered Finnish companies and was conducted by the independent research institution AQ Publications in 2002. Source: AQ Nordic Region Report 2002 13.2.2003 | YIT-YHTYMÄ OYJ

YIT Construction Net Sales by Business Unit 2002 (2001) Building Construction 56 % (58 %) - Residential Construction 46 % (45%) International Operations 15 % (12 %) - Other buildings 10 % (13%) Infraservices 11 % (11 %) Property Services 18 % (19 %) Net sales EUR 1,111.8 million (1,013.8) 13.2.2003 | YIT-YHTYMÄ OYJ

Maintenance of production processes and equipment YIT INSTALLATION LTD Building systems Capital investment services Industrial maintenance apartments office industry BUILDINGS HEPACE and automation contracting, service and maintenance. Fire fighting, access controll and security systems energy process marine forest food INDUSTRY Piping systems, cisterns and pressure vessels contracting Maintenance of production processes and equipment Scandinavia 13.2.2003 | YIT-YHTYMÄ OYJ

Net sales EUR 581.7 million (627.8) YIT Installation Net Sales by Sector 2002 (2001) Building systems, investments 18 % (18 %) Industry, investments 19 % (29 %) Building systems, maintenance 27 % (28 %) Industry, maintenance 36 % (25 %) Net sales EUR 581.7 million (627.8) 13.2.2003 | YIT-YHTYMÄ OYJ

Net sales EUR 95.8 million (on June 1, 2002 into YIT Group) YIT Primatel Net sales 2002 International Operations 1 % Maintenance Repairs Subscriber deliveries 59 % Project Production 40 % Net sales EUR 95.8 million (on June 1, 2002 into YIT Group) 13.2.2003 | YIT-YHTYMÄ OYJ

Number of ADSL-interfaces in Finland YIT Primatel’s Market Situation Domestic Construction of UMTS starting intensively in 2005. Further consolidation expected in the operator field as well as outsourcing of field operations. The number of xDSL (Digital Subscriber Lines) increasing in the near future by 110,000 –140,000 per year. Technical Services of IT networks (FESS) and WLAN are a new growth area. The property networks market will grow by network reconstructions, security services, remote control of real estates and automation. International market potential in surrounding regions Fixed network monopolized but opening up for competition Outsourcing of field services also in other Nordic countries and the Baltic countries. Number of ADSL-interfaces in Finland 13.2.2003 | YIT-YHTYMÄ OYJ

YIT’s start-ups 813 flats in 2002 Start-ups of Housing Units in Russia and the Baltic Countries 2002 - 2005 YIT’s start-ups 813 flats in 2002 20000 16000 2800 1900 750 870 800 150 13.2.2003 | YIT-YHTYMÄ OYJ

Migration between Municipalities in Finland persons 2002: 276,978 persons Source: Statistics Finland, Jan. 2003 13.2.2003 | YIT-YHTYMÄ OYJ

Consumers´ Confidence in their Own Household´s and Finland´s Economy within next 12 Months Saldo (%-share of positive answers – %-share of negative answers) Own economy Oma talous Finland´s economic situation Suomen talous Source: Statistics Finland´s Consumer Survey, Jan. 2003 13.2.2003 | YIT-YHTYMÄ OYJ

Withdrawals of Housing Loans and the Average Interest Rate of New Loans Me % Source: Bank of Finland, Jan. /2003 13.2.2003 | YIT-YHTYMÄ OYJ

Vol. index 1985 = 100, season adjusted Total Output by Main Branches Vol. index 1985 = 100, season adjusted Industry Services GDP Construction Source: Statistics Finland/TT, December 2002 13.2.2003 | YIT-YHTYMÄ OYJ

Industrial Investments in Finland 1980 - 2003 EUR billion, current prices TT´s investment survey Tangible investments/Statistics Finland Sources: Statistics Finland and TT, Jan. 2003 13.2.2003 | YIT-YHTYMÄ OYJ

Major Projects St. Petersburg waste water treatment plant Japan’s embassy in Moscow Large future projects Fifth nuclear power plant Vuosaari port Helsinki - Turku highway Agreement on the development of the Espoo mansion area with landowners 13.2.2003 | YIT-YHTYMÄ OYJ

YIT’s Main Strategy and Outlook YIT´s main strategy is profitable growth. Stable development of net sales and profit expected for YIT during 2003. 13.2.2003 | YIT-YHTYMÄ OYJ

www.yit.fi More information on our site at Esko Mäkelä Executive Vice President tel. +358 20 43 32258 fax +358 20 43 33725 e-mail esko.makela@yit.fi Petra Thorén Manager, Investor Relations tel. +358 20 43 32635 gsm +358 40 764 5462 fax +358 20 43 33725 e-mail petra.thorén@yit.fi 13.2.2003 | YIT-YHTYMÄ OYJ