Lemcon proceeds with its 135-hectare industrial park project in Russia

LEMMINKÄINEN CORPORATION                                                        
PRESS RELEASE 15.11.2007, 13.00                                       

Lemminkäinen Group's Lemcon Ltd is proceeding with its Kaluga industrial park   
project in Russia. On 15 November 2007 the company signed an investment and     
co-operation agreement with the Kaluga provincial authorities. The signing      
ceremony was held in Helsinki in connection with the Finno-Russian Partnership  
Forum organised by Sitra, the Finnish Innovation Fund.                          

The industrial park will be built on a 135-hectare site in the town of          
Vorotynsk, which is located 200 kilometres southwest of Moscow. Twenty or so    
production plants and logistics centres with a gross floor area totalling some  
500,000 square metres will be built in the industrial park over the next few    

Companies are being actively encouraged to set up in Kaluga by means of tax     
reliefs and other incentives. The price of electrical energy in the province is 
also extremely competitive. The companies that have already set up in Kaluga    
include Stora Enso Packaging, Volkswagen, Volvo Trucks, Nestle, Lafarge and     

Lemcon's business idea is to offer Western companies investing in Russia a fast 
and low-risk way to establish themselves in Russia's growing markets.           

“As issues relating to land procurement and infrastructure have been worked out 
for our clients in advance, we can concentrate on implementing their investments
quickly as Western-style contracts,” states Lemcon's Managing Director, Mr.     
Matti A. Mantere.                                                               

”We spent a long time studying alternative sites in Central Russia. Kaluga      
emerged as the clear winner due to its investment-friendly business climate,    
good availability of skilled labour, and excellent communications,” adds Mr.    

Additional information:                                                         
President Matti A. Mantere                                                      
Lemcon Ltd                                                                      
Tel. +358 400 407                                                               

Vice President Juha Höyhtyä                                                     
Lemcon Ltd                                                                      
Tel. +358 40 537                                                                

Project Development Manager Dmitry Abakumov                                     
Lemcon Ltd                                                                      
Tel. +358 400 341 419                                                           

Lemcon Ltd, Lemminkäinen Group's international project contractor, derives about
a half of its business from abroad. In Finland the company focuses on demanding 
infrastructure contracts and project management contracting. In addition to its 
operations in Europe, the company serves as a project and telecoms network      
contractor in the Americas and Asia.                                            

Lemminkäinen Group operates in all areas of the construction sector. Its main   
business areas are building contracting, infrastructure construction, technical 
building services, and building products. Net sales in 2006 were EUR 1.8        
billion, of which international operations accounted for about a third. The     
Group employs some 9,000 people. Lemminkäinen's share is listed on Helsinki     
Stock Exchange.