Lemminkäinen´s Interim Financial Review 1.1. - 30.6.2008: Net sales rose 24 %

LEMMINKÄINEN CORPORATION	INTERIM FINANCIAL REVIEW	7.8.2008, 09:00               


LEMMINKÄINEN'S INTERIM FINANCIAL REVIEW 1.1. - 30.6.2008: Net sales rose 24 %   

- Net sales rose 24 % to EUR 1,090.8 million (879.9) 
- International operations accounted for EUR 282.4 million (212.6) of net sales 
- The operating profit was EUR 31.8 million (45.3), representing 2.9 % (5.1) of 
net sales.                                                                      
- The profit before taxes was EUR 19.4 million (38.9) 
- Earnings per share were EUR 0.71 (1.55) 
- The equity ratio was 23.9 % (26.6) and gearing 171.5 % (146.0) 
- The Company's order book at the end of the review period was EUR 1,696.7
million 
(1,622.0)                                                                       
- International business accounted for EUR 456.4 million (449.3) of the order
book 
- The Group's full-year net sales are expected to be higher than last year, but 
profits are forecast to remain at the 2007 level                                


NET SALES ROSE, PROFITS WEAKENED                                                

Lemminkäinen's net sales grew 24 % in the first half of the year. The volume of 
business grew in all of the Company's key business sectors both in Finland and  
abroad. The Group's order book was 5 per cent higher than at the end of June    
last year.                                                                      

Lemminkäinen's H1 operating profit was EUR 31.8 million (45.3). The profit      
before taxes was EUR 19.4 million (38.9) and the profit for the accounting      
period was EUR 14.0 million (29.9).                                             

Profits weakened significantly in the Lemminkäinen's building construction and  
infrastructure construction business sectors. On the other hand, there was a    
marked improvement in the profits of the Company's technical building services  
business sector.  The profitability of the building products business sector    
remained unchanged.                                                             

Even though the production of commercial buildings continued to be brisk, the   
timing of their margin recognition was such that exceptionally few were included
in the review period. In infrastructure construction, especially paving, the    
rapid growth of input costs somewhat weakened the business sector's             
profitability, although efforts to hedge against rising raw material prices were
quite successful. Longer selling times of housing units delayed the recognition 
of housing production margins and increased the amount of capital tied up in    
production.  Also, other operating income recognised in the first half of last  
year was EUR 6.4 million higher than in the review period.                      


VARIABILITY IN MARKET CONDITIONS                                                

In Finland the market for commercial and logistics construction is still good.  
Higher interest rates and accelerating inflation are increasing uncertainty on  
the housing market, and the selling times of housing units have grown           
considerably longer than last year. In Russia building construction continues to
be brisk. Demand for project exports has remained good in countries such as     
Poland, Hungary, China and India.                                               

In Finland, Lemminkäinen's on-going transport infrastructure projects will      
ensure a reasonably good order book for infrastructure construction in 2008 and 
2009. The market for mineral aggregates and ready-mix concrete has been         
particularly good, but demand is expected to level off in the second half of the
year. The road construction market in the Baltic states has been growing for    
some years, but competition in the region has become more intense.              

The market for maintenance, servicing and repair of technical building and      
facility systems is expected to remain good in Finland. Urban environment       
construction will continue to be brisk in the second half of the year. Demand   
for pre-cast concrete staircase units and façade elements has peaked.           


OUTLOOK FOR 2008                                                                

Lemminkäinen's order book still stands at a record-high level. The Group's      
full-year net sales are expected to be higher than last year, but profits are   
forecast to remain at the 2007 level. The Company's financial position is       
expected to remain unchanged.                                                   


BRIEFING                                                                        

A briefing for analysts and the media will be held at 10:00 am on Thursday, 7   
August at Katajanokan Kasino restaurant, Laivastokatu 1, Helsinki. Participants 
are kindly asked to register in advance by contacting Investor Relations Officer
Katri Sundström either by phone +358 2071 53520 or by e-mail to                 
katri.sundstrom@lemminkainen.fi.                                                


FINANCIAL INFORMATION IN 2008                                                   

Lemminkäinen's Q1-Q3 interim financial review will be published on 6 November   
2008.                                                                           

Presentation material concerning the result for the period 1.1.-30.6.2008 is    
available on the Company's website at www.lemminkainen.com                      


LEMMINKÄINEN CORPORATION                                                        

Juhani Sormaala                                                                 
Managing Director                                                               


Additional information:                                                         
Juhani Sormaala, Managing Director, tel. +358 2071 53302                        
Jukka Ovaska, Finance Director, tel. +358 2071 53334                            
Katri Sundström, Investor Relations Officer, tel. +358 2071 54813               

APPENDICES:                                                                     

Interim Financial Review 1.1.-30.6.2008                                         
Tabulated Section of the Interim Financial Review                               


DISTRIBUTION:                                                                   
OMX Nordic Exchange Helsinki                                                    
Key media                                                                       
www.lemminkainen.com                                                            


INTERIM FINANCIAL REVIEW 1.1.-30.6.2008                                         


OPERATING ENVIRONMENT                                                           

Finland                                                                         

The Finnish economy is likely to grow by less than 3 per cent this year. The    
outlook for the economy is overshadowed by the gathering pace of inflation,     
which is being fuelled especially by the rapid growth of crude oil and food     
prices. Higher interest rates are causing uncertainty on the housing market.    

According to the Confederation of Finnish Construction Industries, the total    
volume of construction will grow by about 4 per cent this year. It is           
anticipated that a total of 28,000 new housing starts will be made in Finland   
this year, compared with about 30,800 in 2007. The selling times of housing     
units have clearly grown longer and the number of unsold completed units has    
risen.                                                                          

Demand for commercial and logistics construction has continued at a good level, 
but office construction is expected to slow down in the second half. The market 
for industrial construction is good and refurbishment contracting continues to  
grow steadily.                                                                  

The infrastructure construction market has remained reasonably good and         
foundation engineering works in particular have been in sufficient demand.      

(Sources: Confederation of Finnish Construction Industries, Bank of Finland)    


Relevant markets for Lemminkäinen abroad                                        

In the other Nordic countries, with the exception of Denmark, economic growth in
2008 is expected to be slightly higher than the average growth rate for the euro
zone.                                                                           

In the Baltic states, there has been a significant downward revision of growth  
forecasts. The economic outlook for the region is being weakened by accelerating
inflation in particular. New road construction and upgrade projects are still   
being launched with foreign funding.                                            

The Russian economy continues to grow robustly and foreign investments are      
expected to maintain their growth. Demand for construction is still good in     
Russia.                                                                         

Finnish industry has many on-going investment projects in China, India and      
Eastern Europe. The construction of 3G networks continues in the United States  
and Latin America, as does the deployment of second-generation GSM networks in  
the developing countries.                                                       

(Sources: Euroconstruct, Research Institute of the Finnish Economy)             


LEMMINKÄINEN'S NEW STRUCTURE EFFECTIVE FROM 1.1.2008                            

Lemminkäinen Group was reorganised into four business sectors with effect from 1
January 2008. The business sectors are building construction, infrastructure    
construction, technical building services and building products.                

Lemminkäinen's operations in the building construction and infrastructure       
construction business sectors are the responsibility of two newly established   
companies,  Lemminkäinen Talo Oy and Lemminkäinen Infra Oy, respectively.       
Tekmanni Oy is a provider of technical building services, technical facility    
services and industrial services. The building products business sector,        
Lemminkäinen Building Products, comprises the subsidiaries Lemminkäinen Katto Oy
(roofing), Lemminkäinen Betonituote Oy (concrete products) and Omni-Sica Oy     
(sports construction).                                                          

More detailed information on Lemminkäinen's reorganisation is provided in the   
Company's Annual Report 2007 and on its website.                                

The comparative figures presented in this interim financial review for the      
building construction and infrastructure construction business sectors are pro  
forma figures.                                                                  


GROUP NET SALES, EARNINGS AND BALANCE SHEET                                     

The H1 net sales of Lemminkäinen Group rose 24 % to EUR 1,090.8 million (879.9).
The Group generated 74 % (76) of its net sales in Finland, 13 % (14) in other   
Nordic countries, 4 % (1) in Russia, 6 % (5) in Eastern Europe and the Baltic   
states, and 3 % (4) in other countries.                                         


--------------------------------------------------------------------------------
| Net sales by business sector,   |    1-6/2008 |     1-6/2007 |     Change, % |
| EUR million                     |             |              |               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Building construction           |       571.9 |      442.31) |          29.3 |
--------------------------------------------------------------------------------
| Infrastructure construction     |       346.0 |      301.41) |          14.8 |
--------------------------------------------------------------------------------
| Technical building services     |       124.4 |        103.4 |          20.3 |
--------------------------------------------------------------------------------
| Building products               |        70.8 |         58.1 |          21.9 |
--------------------------------------------------------------------------------
| Other operations and intragroup |             |              |               |
--------------------------------------------------------------------------------
| eliminations                    |       -22.3 |        -25.3 |          11.9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total                    |     1,090.8 |        879.9 |          24.0 |
--------------------------------------------------------------------------------
1)pro forma                                                                     

The H1 operating profit was EUR 31.8 million (45.3) and the profit before taxes 
EUR 19.4 million (38.9). The profit for the accounting period was EUR 14.0      
million (29.9), of which EUR 12.1 million (26.5) was attributable to the        
shareholders of the parent company. Earnings per share were EUR 0.71 (1.55).    


--------------------------------------------------------------------------------
| Operating profit by business        | 1-6/2008 |     1-6/2007 |    Change, % |
| sector,                             |          |              |              |
| EUR million                         |          |              |              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Building construction               |     21.4 |       31.81) |        -32.7 |
--------------------------------------------------------------------------------
| Infrastructure construction         |      4.0 |        8.01) |        -50.0 |
--------------------------------------------------------------------------------
| Technical building services         |      8.1 |          4.6 |         76.1 |
--------------------------------------------------------------------------------
| Building products                   |      3.4 |          3.4 |          0.0 |
--------------------------------------------------------------------------------
| Others                              |     -5.1 |         -2.6 |         96.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total                        |     31.8 |         45.3 |        -29.8 |
--------------------------------------------------------------------------------
1)pro forma                                                                     


The Company's cash funds at the end of the review period were EUR 76.0 million  
(55.3) and the net interest-bearing debt EUR 515.6 million (391.2). The equity  
ratio was 23.9 % (26.6) and gearing 171.5 % (146.0).                            

The Group's order book grew 5 % and at the end of the review period was EUR     
1,696.7 million (1,622.0). The market breakdown of the order book was Finland 73
% (72), other Nordic countries 14 % (15), Russia 5 % (6), Eastern Europe and the
Baltic states 6 % (4), and other countries 2 % (3).                             


BUSINESS SECTORS                                                                

BUILDING CONSTRUCTION                                                           

The H1 net sales of the building construction business sector rose 29 % to EUR  
571.9 million (442.3)1), of which international operations accounted for EUR    
115.7 million (75.1)1). The business sector generated 80 % of its net sales in  
Finland, 5 % in other Nordic countries, 5 % in Russia, 4 % in North and South   
America, and 6 % in other countries. The growth in net sales was due to active  
commercial and office construction in Finland as well as building construction  
in Russia.                                                                      

The business sector's H1 operating profit was EUR 21.4 million (31.8)1). Even   
though the production of commercial buildings continued to be brisk, the timing 
of their margin recognition was such that exceptionally few were included in the
review period. Longer selling times of housing units delayed the recognition of 
housing production margins and increased the amount of capital tied up in       
production. Also, other operating income recognised in the first half of last   
year was higher than in the review period.                                      
                                                                                
The order book at the end of the review period was EUR 919.9 million (947.9)1), 
of which international operations accounted for EUR 165.5 (172.4)1).            

1)pro forma                                                                     


Operations in Finland                                                           

Lemminkäinen made 492 (H1 2007: 450, H1 2006: 842) new private-sector housing   
starts in Finland during the review period. The Company expects to make starts  
on approx. 700 new housing units in Finland this year (2007: 852, 2006: 1,558). 
The selling times of housing units are clearly longer than they were last year  
and higher interest rates have increased uncertainty in the housing market.     
According to the consumer barometer (7/2008) published by Statistics Finland,   
consumers´ expectations about their own economic situation were the most        
cautious since 1996.                                                            

The market for commercial, industrial and logistics construction is still good. 
Office construction has been brisk especially in the Helsinki metropolitan area,
but the number of new starts is expected to fall off in the second half of the  
year. The investment returns demanded by commercial property investors have     
risen due to higher interest rates and the tighter requirements of financiers.  
There are regional variations in the sufficiency and need for labour, and there 
is still a shortage of professionally skilled labour in the Helsinki            
metropolitan area in particular.                                                


--------------------------------------------------------------------------------
| Lemminkäinen's private-sector    |    1-6/2008 |     1-6/2007 |    1-12/2007 |
| housing production in Finland,   |             |              |              |
| units                            |             |              |              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Housing starts                   |         492 |          450 |          852 |
--------------------------------------------------------------------------------
| Housing units sold               |         430 |          518 |          883 |
--------------------------------------------------------------------------------
| Unsold completed units           |         286 |          186 |          283 |
--------------------------------------------------------------------------------
| Completed                        |         304 |          711 |        1,488 |
--------------------------------------------------------------------------------
| Under construction at 30.6.2008  |       1,311 |        1,437 |        1,123 |
--------------------------------------------------------------------------------

At the end of the review period Lemminkäinen owned a total of 862,000 m2 of     
unused building rights, of which about 396,000 m2 were residential building     
rights. The Company also has binding or conditional co-operation and zoning     
agreements for a further 761,000 m2, of which about 258,000 m2 are residential  
building rights. Market conditions permitting, the Company has the possibility  
to increase its housing production in Finland thanks to the good stock of       
building plots. At the present rate of production the company owns enough unused
building rights to meet its needs for over four years.                          


International operations                                                        

In Russia, construction continues to be brisk and foreign investments in the    
country have grown. However, the country's sharply increased rate of inflation  
and its possible impact on demand for housing are a concern.                    

Lemminkäinen is building over 600 housing units in St. Petersburg. Sales of the 
526-unit Alexandria building will commence in the autumn. The Company is also   
starting to construct a 135-hectare industrial park in the province of Kaluga.  

Lemminkäinen is actively involved in Finnish industry's plant building projects 
around the world. Project export opportunities are expected to remain good in   
Poland, China and India. The construction of telecom networks in the developing 
countries is expected to remain brisk, although price competition in this area  
is fierce.                                                                      

On spring 2006 IKEA announced the termination of its contract with Lemminkäinen 
concerning the construction of the MEGA shopping centre in St. Petersburg.      
Termination of the contract is not expected to have any essential bearing on    
Lemminkäinen´s result. Legal proceedings are now underway in the court of       
arbitration in Stockholm.                                                       


--------------------------------------------------------------------------------
| Lemminkäinen's private-sector housing      |       1-6/2008 |      1-12/2007 |
| production in other countries, units       |                |                |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Housing starts                             |            607 |             91 |
--------------------------------------------------------------------------------
| Housing units sold                         |             55 |              - |
--------------------------------------------------------------------------------
| Unsold completed units                     |              - |              - |
--------------------------------------------------------------------------------
| Completed                                  |              - |              - |
--------------------------------------------------------------------------------
| Under construction at 30.6.2008            |            698 |             91 |
--------------------------------------------------------------------------------


INFRASTRUCTURE CONSTRUCTION                                                     

The H1 net sales of the infrastructure construction business sector grew 15 % to
EUR 346.0 million (301.4)1), of which international operations accounted for EUR
158.7 million (127.8)1). The business sector generated 54 % of its net sales in 
Finland, 31 % in other Nordic countries, 13 % in the Baltic states and 2 % in   
Russia. Net sales grew in almost all of the sector's business areas.            

The business sector's H1 operating profit was EUR 4.0 million (8.0)1). The      
difference compared with H1 last year is due to higher input costs and the lower
level of other operating income.                                                

The order book grew 16 % and at the end of the review period was EUR 603.4      
million (521.6)1), of which international operations accounted for EUR 289.2    
million (270.9)1).                                                              

1)pro forma                                                                     


Operations in Finland                                                           

The volume of Lemminkäinen's paving operations in Finland was up on the same    
period last year. Competition in the paving industry continues to be fierce and 
higher raw material prices may be reflected in the demand for paving in the     
second half of the year. Nonetheless, the total volume of paving in Finland in  
2008 is likely to remain at last year's level.                                  

Competition is fierce on the domestic markets for transport infrastructure      
construction and rock engineering. Lemminkäinen's on-going transport            
infrastructure projects will ensure that the Company has a reasonable stock of  
orders this year and in 2009. On the foundation engineering market, demand for  
stabilisation and building repair works has remained good.                      

The markets for mineral aggregates and ready-mix concrete have been particularly
good, but demand is expected to level off in the second half of the year.       

During the review period Lemminkäinen acquired full ownership of Tolarock Oy, a 
rock engineering company specialised in hard rock tunnelling and mining         
excavation. Demand for mining operations is expected to remain good and even to 
increase in the near future.                                                    


International operations                                                        

The volume of the infrastructure construction business sector's international   
operations grew in almost all the company's market areas. The international     
order book remains good, but rapidly increased input costs adversely impacted   
the business sector's result. Asphalt production costs have risen 10-15 per cent
and wage costs 5-15 per cent compared with last year.                           

This year the total volume of paving works is expected to rise in Norway,       
Lithuania and Latvia. In Denmark and Estonia total volumes will either remain   
unchanged or fall slightly compared with last year. In the Baltic states the    
development of the road network will continue, but competitive conditions in the
region have become more challenging.                                            

In Sweden the rock engineering market remains good, but competition has         
intensified with the market entry of new actors mainly from Europe. During the  
review period Lemminkäinen received two tunnel construction contracts from      
Ådalsbana. The combined value of the contracts is approx. EUR 43 million.       


TECHNICAL BUILDING SERVICES                                                     

The H1 net sales of the technical building services business sector rose by a   
fifth to EUR 124.4 million (103.4). Business volume grew in all areas of the    
business sector.                                                                

The H1 operating profit rose by as much as 76 % to EUR 8.1 million (4.6). The   
order book at the end of the review period was EUR 120.5 million (106.0).       

Brisk commercial construction has sustained demand for technical building       
services at a good level, but uncertainty as to the sector's cyclical           
development will continue for the remainder of the year. The sector continues to
experience a general shortage of skilled labour.                                

The market for maintenance, servicing and repair work has continued its steady  
growth. There is also demand in Russia, where Tekmanni Service Oy set up        
operations in 2007.                                                             


BUILDING PRODUCTS                                                               

The H1 net sales of the building products business sector grew 22 % to EUR 70.8 
million (58.1). The business sector generated 9 % of its net sales abroad.      

The H1 operating profit was EUR 3.4 million (3.4). The order book grew and at   
the end of the review period was EUR 52.9 million (46.5).                       

Urban environment and sports construction have been clearly more active than in 
2007, and the outlook for these markets in the second half of the year is good. 

The slowdown of housing and office construction has weakened demand for pre-cast
concrete staircase units and wall elements.                                     

Exports of building materials mainly to Sweden and Eastern Europe have continued
to be brisk.                                                                    


GROUP'S ORDER BOOK                                                              

Lemminkäinen's order book rose 5 % compared with the end of June last year. The 
market breakdown of the order book was Finland 73 % (72), other Nordic countries
14 % (15), Russia 5 % (6), the Baltic states and Eastern Europe 6 % (4), and    
other countries 2 % (3).                                                        


--------------------------------------------------------------------------------
| Order book by business sector,    |      6/2008 |       6/2007 |   Change, % |
| EUR million                       |             |              |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Building construction             |       919.9 |      947.91) |        -3.0 |
--------------------------------------------------------------------------------
| Infrastructure construction       |       603.4 |      521.61) |        15.7 |
--------------------------------------------------------------------------------
| Technical building services       |       120.5 |        106.0 |        13.7 |
--------------------------------------------------------------------------------
| Building products                 |        52.9 |         46.5 |        13.8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total, of which            |     1,696.7 |      1,622.0 |         4.6 |
--------------------------------------------------------------------------------
| International orders              |       456.4 |        449.3 |         1.6 |
--------------------------------------------------------------------------------
1)pro forma                                                                     

Significant orders received during the review period                            
Lemminkäinen is constructing a production plant for Nokia Siemens Networks Oy in
Chennai, India. The total floor area of the plant is 33,700 m2.                 
An agreement has been signed with Nokian Tyres Plc concerning the technical     
building works for a plant expansion in Vsevolozhsk. The total floor area of the
plant expansion is 29,000 m².                                                   

A service agreement has been signed with the Estonian Road Administration       
whereby the company assumes responsibility for the summer and winter maintenance
of the road network in Ida-Viru County for a period of 8 years.                 

In Russia Lemminkäinen has received a Remix road resurfacing contract for a     
section of the M-18 highway leaving the city of Murmansk. The road section is   
150 km long and the work will be carried out during the summer by personnel and 
equipment normally based in Finland.                                            

Lemminkäinen has received two railway tunnel construction contracts from        
Ådalsbana line in Sweden. The combined length of the tunnels is about 5.5       
kilometres and the work will take an estimated two years to complete.           


FINANCING                                                                       

According to the cash flow statement, the cash flow from operating activities   
was EUR -174.6 million (-54.8), the cash flow from investing activities EUR     
-23.8 million (-19.3) and the cash flow from financing activities EUR 195.9     
million (68.6). The cash flow for the review period includes dividends totalling
EUR 32.6 million (27.4) for 2007.                                               

Interest-bearing liabilities at the end of the review period were EUR 591.7     
million (446.6) and liquid funds were EUR 76.0 million (55.3). Interest-bearing 
net debt was EUR 515.6 million (391.2). Net financing expenses were EUR 12.7    
million (6.3), representing 1.2 % (0.7) of net sales.                           

The equity ratio was 23.9 % (26.6) and gearing 171.5 % (146.0).                 

The changes in cash flows and the amount of interest-bearing net debt are mainly
due to increased working capital, as a consequence of net sales growth. The     
higher financing costs are due to increased working capital, higher interest    
rates, exchange rate changes and hedges.                                        


LEMMINKÄINEN'S SHARE                                                            

The listed price of Lemminkäinen Corporation's share was EUR 31.50 (36.10) at   
the beginning and EUR 29.01 (52.45) at the end of the review period. The market 
capitalisation at the end of the review period was EUR 493.8 million (892.8).   
Altogether 2,157,846 (3,139,388) shares worth EUR 68.0 million (141.3) were     
traded in the first half of the year. At the end of the review period the       
Company had 4,094 (3,357) shareholders.                                         


INVESTMENTS                                                                     

Investments in the accounting period amounted to EUR 35.6 million (37.4). The   
investments were mainly purchases of paving, crushing and excavation equipment, 
production plant for building materials, and building construction equipment.   


PERSONNEL                                                                       

The average number of employees in the Group over the review period was 9,498   
(8,762). Approx. 71 % (72) of the employees were working in Finland, 11 % (11)  
in other Nordic countries, 11 % (11) in the Baltic states, and 7 % (6) in other 
countries.                                                                      


--------------------------------------------------------------------------------
| Personnel, average                |    1-6/2008 |     1-6/2007 |   Change, % |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Hourly paid employees             |       6,262 |        5,662 |        10.6 |
--------------------------------------------------------------------------------
| Salaried staff                    |       3,236 |        3,100 |         4.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Personnel, total, of whom         |       9,498 |        8,762 |         8.4 |
--------------------------------------------------------------------------------
| Working abroad                    |       2,692 |        2,482 |         8.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Personnel at the end              |             |              |             |
--------------------------------------------------------------------------------
| of the review period              |      10,919 |       10,397 |         5.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Wages, salaries and other         |             |              |             |
--------------------------------------------------------------------------------
| remuneration, EUR million         |       168.2 |        147.3 |        14.2 |
--------------------------------------------------------------------------------


CORPORATE GOVERNANCE AND DECISIONS OF THE ANNUAL GENERAL MEETING                

Lemminkäinen Corporation's Annual General Meeting held on 14 March 2008 adopted 
the Company's final accounts and consolidated financial statements for 2007 and 
granted the Managing Director and the members of the Board of Directors         
discharge from liability. The Annual General Meeting decided in accordance with 
the Board of Directors' proposal to pay a dividend of EUR 1.80 per share, i.e. a
total dividend pay-out of EUR 30,638,250.00. The dividend's record date was 19  
March 2008 and the payment date was 28 March 2008.                              

Messrs. Berndt Brunow, Heikki Pentti, Teppo Taberman, Sakari Tamminen and Ms.   
Kristiina Pentti were re-elected to serve as members of the Board of Directors. 
Mr. Juhani Mäkinen, Counsellor of Law, attorney, was newly elected to serve as a
Board member. PricewaterhouseCoopers Oy, a firm of authorised public            
accountants, was re-elected to serve as the Company's auditor, with Jan         
Holmberg, APA acting as the chief auditor.                                      

Heikki Pentti, long-serving Chairman of Lemminkäinen Corporation's Board of     
Directors and the Company's biggest shareholder, passed away on 19 April 2008   
after a serious illness. Heikki Pentti was a Director of the Company for 39     
years. He served as the Company's Managing Director in the years 1983-1993 and  
as the Chairman of the Board of Directors from 1994 onwards.                    

Lemminkäinen Corporation's Board of Director held an organisation meeting after 
the death of Heikki Pentti. Berndt Brunow was elected to serve as the Chairman  
of the Board, and Juhani Mäkinen as the Vice Chairman. The Board of Directors   
will work as a five-member body until the next Annual General Meeting is held in
spring 2009.                                                                    


MARKET COURT'S DECISION IN THE ASPHALT INDUSTRY CARTEL CASE                     

In December 2007 the Market Court ordered seven asphalt industry companies to   
pay a total of EUR 19.4 million in infringement fines for contravention of      
competition law. The infringement fine imposed on Lemminkäinen was EUR 14       
million. The amount proposed by the Finnish Competition Authority was EUR 68    
million.                                                                        

In addition to Lemminkäinen, the Finnish Competition Authority and some asphalt 
industry companies have appealed the decision to the Supreme Administrative     
Court. Irrespective of the future of the proceedings, the competition           
infringement fine of EUR 14 million imposed on Lemminkäinen by the Market Court 
was recognised as an expense in the fourth quarter of 2007. Since the decision  
has been appealed, the total amount of the fine may change.                     

On 18 June 2008 Lemminkäinen was informed of an application for a summons in    
which the Finnish Road Administration is demanding compensatory damages from    
different asphalt companies before the Helsinki District Court. Lemminkäinen's  
share of the claimed compensation is at most EUR 10.5 million. The Finnish Road 
Administration is also seeking damages of at most EUR 5.6 million from          
Lemminkäinen, under joint and several liability with other defendant companies. 
The Finnish Road Administration has asked the Helsinki District Court to        
postpone the hearing of the case until the competition restriction case has been
resolved in the Supreme Administrative Court. (Bulletins 19.12.2007 and         
18.6.2008)                                                                      


RISKS AND UNCERTAINTIES IN THE NEAR FUTURE                                      

The most significant risk for Lemminkäinen in the near future is market risk.   
International financial market turbulence has partially extended to Finland and 
may increasingly reflect on housing demand and other investments. Sales of      
housing units in Finland are already clearly slower than they were last year.   

The starting point for Lemminkäinen's strategy is to direct operations to       
business sectors that differ from one another in their business cycle           
behaviours. Fluctuations in the demand for new construction in Finland are      
balanced by international business operations as well as by building repair and 
maintenance work. The Group's building repair and maintenance operations account
for approximately 40% of its business.                                          

During the review period Lemminkäinen's management did not identify any new     
risks or uncertainties that, if realised, would have a significant bearing on   
the Group's business. The Company's Annual Report and its website provide more  
information on Lemminkäinen's risk management.                                  


THE ENVIRONMENT                                                                 

Lemminkäinen's values include environmentally responsible construction.         
Lemminkäinen Group takes into account life-cycle and environmental perspectives 
when developing its operations, products and services. Environmental issues and 
the environmental effects of the Group's operations are continuously managed by 
means internal monitoring and control programs. The Company's Annual Report and 
its website provide more information on Lemminkäinen's environmental issues.    


OUTLOOK FOR 2008                                                                

Lemminkäinen's order book still stands at a record-high level. The Group's      
full-year net sales are expected to be higher than last year, but profits are   
forecast to remain at the 2007 level. The Company's financial position is       
expected to remain unchanged.                                                   


Helsinki, 6 August 2008                                                         

LEMMINKÄINEN CORPORATION                                                        
Board of Directors                                                              


TABULATED SECTION OF THE INTERIM FINANCIAL REVIEW                               

This interim financial review has been prepared in accordance with the          
recognition and accounting principles of the IFRS standards and it conforms to  
the IAS 34 Interim Financial Reporting Standard. The same IFRS recognition and  
measurement principles used in the annual financial statements for 2007 have    
been observed in the preparation of this interim financial review with the      
below-mentioned changes.                                                        

Changes in accounting principles with effect from 1 January 2008:               

- IFRIC 11 concerning the application of IFRS 2 to share-based payments         
- IFRIC 12 Service Concession Arrangements                                      
- IFRIC 14, IAS 19 The Limit and                                                
Defined Benefit Assets, Minimum Funding Requirements and their Interaction      

Adoption of the new interpretations does not have any essential bearing on the  
Group's interim financial review.                                               

The information contained in the interim financial review has not been audited. 


--------------------------------------------------------------------------------
| FINANCIAL STATEMENTS AND OTHER TABULATED INFORMATION                         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 1) Consolidated income statement                                             |
--------------------------------------------------------------------------------
| 2) Consolidated balance sheet                                                |
--------------------------------------------------------------------------------
| 3) Consolidated cash flow statement                                          |
--------------------------------------------------------------------------------
| 4) Consolidated statement of changes in shareholders' equity                 |
--------------------------------------------------------------------------------
| 5) Consolidated income statement, quarterly                                  |
--------------------------------------------------------------------------------
| 6) Net sales by business sector                                              |
--------------------------------------------------------------------------------
| 7) Net sales by business sector, quarterly                                   |
--------------------------------------------------------------------------------
| 8) Operating profit by business sector                                       |
--------------------------------------------------------------------------------
| 9) Operating profit by business sector, quarterly                            |
--------------------------------------------------------------------------------
| 10) Economic trends and financial indicators                                 |
--------------------------------------------------------------------------------
| 11) Share-specific indicators                                                |
--------------------------------------------------------------------------------
| 12) Tangible assets                                                          |
--------------------------------------------------------------------------------
| 13) Divested businesses                                                      |
--------------------------------------------------------------------------------
| 14) Acquired businesses                                                      |
--------------------------------------------------------------------------------
| 15) Related-party transactions                                               |
--------------------------------------------------------------------------------
| 16) Guarantees and contingent liabilities                                    |
| 17) Legal proceedings                                                        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 1) CONSOLIDATED INCOME STATEMENT                                             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EUR million          | 06/200 |    06/2007 |      Change | Change, | 12/2007 |
|                      |      8 |            |             |         |         |
--------------------------------------------------------------------------------
|                      |        |            |             |       % |         |
--------------------------------------------------------------------------------
| Net sales            | 1,090. |      879.9 |       210.9 |    24.0 | 2,174.1 |
|                      |      8 |            |             |         |         |
--------------------------------------------------------------------------------
| Other operating      |    4.1 |       10.5 |        -6.4 |   -61.0 |    13.2 |
| income               |        |            |             |         |         |
--------------------------------------------------------------------------------
| Operating expenses   | 1,048. |      831.3 |       217.5 |    26.2 | 2,026.8 |
|                      |      8 |            |             |         |         |
--------------------------------------------------------------------------------
| Depreciation         |   14.3 |       13.8 |         0.5 |     3.6 |    34.2 |
--------------------------------------------------------------------------------
| Operating profit     |   31.8 |       45.3 |       -13.5 |   -29.8 |   126.3 |
--------------------------------------------------------------------------------
| Financial expenses   |   17.6 |        9.2 |         8.4 |    91.3 |    22.2 |
--------------------------------------------------------------------------------
| Financial income     |    4.9 |        2.9 |         2.0 |    69.0 |     6.2 |
--------------------------------------------------------------------------------
| Share of the results |        |            |             |    over |         |
| of                   |        |            |             |         |         |
--------------------------------------------------------------------------------
| affiliated companies |    0.3 |        0.0 |         0.3 |     100 |     0.9 |
--------------------------------------------------------------------------------
| Profit/loss before   |   19.4 |       38.9 |       -19.5 |   -50.1 |   111.2 |
| taxes                |        |            |             |         |         |
--------------------------------------------------------------------------------
| Income taxes         |   -5.4 |       -9.0 |         3.6 |    40.0 |   -30.6 |
--------------------------------------------------------------------------------
| Profit/loss for the  |        |            |             |         |         |
| accounting           |        |            |             |         |         |
--------------------------------------------------------------------------------
| period               |   14.0 |       29.9 |       -15.9 |   -53.2 |    80.6 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Distribution of the profit/loss for the          |       |         |         |
| accounting period                                |       |         |         |
--------------------------------------------------------------------------------
| To parent company    |   12.1 |       26.5 |       -14.4 |   -54.3 |    72.9 |
| shareholders         |        |            |             |         |         |
--------------------------------------------------------------------------------
| To minority          |    1.9 |        3.4 |        -1.5 |   -44.1 |     7.6 |
| interests            |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EPS calculated from profit/loss attributable to parent company shareholders  |
--------------------------------------------------------------------------------
| Earnings per share, diluted and undiluted,                                   |
--------------------------------------------------------------------------------
| EUR                  |   0.71 |       1.55 |             |         |    4.29 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 2) CONSOLIDATED BALANCE SHEET                                                |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EUR million                   |    06/2008 |     06/2007 |         | 12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current assets            |            |             |         |         |
--------------------------------------------------------------------------------
| Tangible assets               |      191.0 |       178.5 |         |   176.1 |
--------------------------------------------------------------------------------
| Goodwill                      |       76.5 |        75.8 |         |    75.1 |
--------------------------------------------------------------------------------
| Other intangible assets       |        2.7 |         2.5 |         |     2.6 |
--------------------------------------------------------------------------------
| Investments                   |        9.2 |         9.6 |         |     9.7 |
--------------------------------------------------------------------------------
| Deferred tax asset            |        9.4 |         8.0 |         |     4.9 |
--------------------------------------------------------------------------------
| Other non-current receivables |        5.6 |         2.9 |         |     3.7 |
--------------------------------------------------------------------------------
| Total                         |      294.3 |       277.2 |         |   272.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current assets                |            |             |         |         |
--------------------------------------------------------------------------------
| Inventories                   |      393.9 |       302.9 |         |   330.9 |
--------------------------------------------------------------------------------
| Trade and other receivables   |      614.8 |       476.7 |         |   387.4 |
--------------------------------------------------------------------------------
| Cash funds                    |       76.0 |        55.3 |         |    78.5 |
--------------------------------------------------------------------------------
| Total                         |    1,084.7 |       834.9 |         |   796.9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets, total                 |    1,379.0 |     1,112.1 |         | 1,069.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shareholders' equity and      |            |             |         |         |
| liabilities                   |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity attributable to parent company shareholders                           |
--------------------------------------------------------------------------------
| Share capital                 |       34.0 |        34.0 |         |    34.0 |
--------------------------------------------------------------------------------
| Share premium account         |        5.8 |         5.8 |         |     5.8 |
--------------------------------------------------------------------------------
| Revaluation reserve           |        1.1 |         0.6 |         |     0.2 |
--------------------------------------------------------------------------------
| Translation differences       |       -0.2 |         0.3 |         |     0.1 |
--------------------------------------------------------------------------------
| Retained earnings             |      224.8 |       182.5 |         |   182.5 |
--------------------------------------------------------------------------------
| Profit/loss for the period    |       12.1 |        26.5 |         |    72.9 |
--------------------------------------------------------------------------------
| Shareholders' equity          |            |             |         |         |
--------------------------------------------------------------------------------
| before minority interest      |      277.6 |       249.6 |         |   295.5 |
--------------------------------------------------------------------------------
| Minority interest             |       23.1 |        18.3 |         |    23.7 |
--------------------------------------------------------------------------------
| Shareholders' equity, total   |      300.7 |       267.9 |         |   319.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current liabilities       |            |             |         |         |
--------------------------------------------------------------------------------
| Deferred tax liabilities      |       15.7 |        17.8 |         |    12.9 |
--------------------------------------------------------------------------------
| Pension liabilities           |        0.6 |         0.9 |         |     0.6 |
--------------------------------------------------------------------------------
| Provisions                    |        2.2 |         2.1 |         |     1.7 |
--------------------------------------------------------------------------------
| Interest-bearing liabilities  |      118.3 |       167.7 |         |   139.5 |
--------------------------------------------------------------------------------
| Other liabilities             |        1.2 |         1.7 |         |     1.9 |
--------------------------------------------------------------------------------
| Total                         |      138.0 |       190.1 |         |   156.6 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current liabilities           |            |             |         |         |
--------------------------------------------------------------------------------
| Accounts payable and other    |      461.3 |       369.6 |         |   369.2 |
| liabilities                   |            |             |         |         |
--------------------------------------------------------------------------------
| Provisions                    |        5.7 |         5.5 |         |     6.4 |
--------------------------------------------------------------------------------
| Interest-bearing liabilities  |      473.3 |       278.9 |         |   217.6 |
--------------------------------------------------------------------------------
| Total                         |      940.3 |       654.0 |         |   593.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shareholders' equity          |            |             |         |         |
--------------------------------------------------------------------------------
| and liabilities, total        |    1,379.0 |     1,112.1 |         | 1,069.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 3) CONSOLIDATED CASH FLOW STATEMENT                                          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EUR million          |        |    06/2008 | 06/2007 |             | 12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit before extraordinary   |       19.4 |    38.9 |             |   111.2 |
| items                         |            |         |             |         |
--------------------------------------------------------------------------------
| Depreciation according to     |       14.3 |    13.8 |             |    34.2 |
| plan                          |            |         |             |         |
--------------------------------------------------------------------------------
| Other adjustments             |       10.0 |    -1.5 |             |     7.7 |
--------------------------------------------------------------------------------
| Cash flow before change       |            |         |             |         |
--------------------------------------------------------------------------------
| in working capital            |       43.6 |    51.2 |             |   153.1 |
--------------------------------------------------------------------------------
| Change in working capital     |     -174.0 |   -84.8 |             |   -32.9 |
--------------------------------------------------------------------------------
| Financial items               |      -15.5 |    -6.9 |             |   -17.9 |
--------------------------------------------------------------------------------
| Direct taxes paid             |      -28.8 |   -14.3 |             |   -22.6 |
--------------------------------------------------------------------------------
| Cash flow from operating      |     -174.6 |   -54.8 |             |    79.6 |
| activities                    |            |         |             |         |
--------------------------------------------------------------------------------
| Cash flow provided by         |        8.5 |    18.1 |             |    24.3 |
| investing activities          |            |         |             |         |
--------------------------------------------------------------------------------
| Cash flow used in investing   |      -32.4 |   -37.4 |             |   -53.8 |
| activities                    |            |         |             |         |
--------------------------------------------------------------------------------
| Change in non-current         |       -0.8 |    -0.9 |             |    -1.4 |
| receivables                   |            |         |             |         |
--------------------------------------------------------------------------------
| Change in short-term loans    |      257.4 |    15.5 |             |   -50.3 |
--------------------------------------------------------------------------------
| Drawings of long-term loans   |        6.3 |   105.0 |             |   103.8 |
--------------------------------------------------------------------------------
| Repayments of long-term loans |      -28.1 |   -15.5 |             |   -39.6 |
--------------------------------------------------------------------------------
| Repayments of finance leasing |       -6.3 |    -8.2 |             |   -17.1 |
| debts                         |            |         |             |         |
--------------------------------------------------------------------------------
| Dividends paid                |      -32.6 |   -27.4 |             |   -27.4 |
--------------------------------------------------------------------------------
| Cash flow from financing      |      195.9 |    68.6 |             |   -32.0 |
| activities                    |            |         |             |         |
--------------------------------------------------------------------------------
| Change in cash funds          |       -2.5 |    -5.5 |             |    18.1 |
--------------------------------------------------------------------------------
| Cash funds at beginning of    |       78.5 |    60.6 |             |    60.6 |
| period                        |            |         |             |         |
--------------------------------------------------------------------------------
| Translation difference of     |        0.0 |     0.2 |             |    -0.2 |
| cash funds                    |            |         |             |         |
--------------------------------------------------------------------------------
| Cash funds at end of period   |       76.0 |    55.3 |             |    78.5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 4) CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY                 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|       |      |       |        |            |             |         |  Share- |
--------------------------------------------------------------------------------
|       |      | Share | Trans- |    Revalu- |             |         | holders |
|       |      |       |        |            |             |         |       ' |
--------------------------------------------------------------------------------
|       | Shar | premi | lation |      ation |    Retained | Minorit | equity, |
|       |    e |    um |        |            |             |       y |         |
--------------------------------------------------------------------------------
| EUR   | capi | accou | differ |    reserve |    earnings | interes |   total |
| milli |  tal |    nt |   ence |            |             |       t |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Share |      |       |        |            |             |         |         |
| holde |      |       |        |            |             |         |         |
| rs'   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| equit |      |       |        |            |             |         |         |
| y     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 1.1.2 | 34.0 |   5.8 |    0.1 |        0.1 |       208.0 |    19.7 |   267.7 |
| 007   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Translation  |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| difference   |       |    0.6 |            |             |         |     0.6 |
--------------------------------------------------------------------------------
| Hedging of   |       |        |            |             |         |         |
| net          |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| investment   |       |        |            |             |         |         |
| in           |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| foreign      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| subsidiary   |       |   -0.4 |            |             |         |    -0.4 |
--------------------------------------------------------------------------------
| Cash flow    |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| hedges       |       |        |        0.5 |             |         |     0.5 |
--------------------------------------------------------------------------------
| Change in    |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| fair value   |       |        |        0.0 |             |         |     0.0 |
--------------------------------------------------------------------------------
| Rever |      |       |        |            |             |         |         |
| sal   |      |       |        |            |             |         |         |
| of    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| divid |      |       |        |            |             |         |         |
| end   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| liabi |      |       |        |            |         0.0 |         |     0.0 |
| lity  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Divid |      |       |        |            |             |         |         |
| end   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| distr |      |       |        |            |       -25.5 |    -1.8 |   -25.5 |
| ibuti |      |       |        |            |             |         |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Profi |      |       |        |            |             |         |         |
| t/los |      |       |        |            |             |         |         |
| s for |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| the   |      |       |        |            |             |         |         |
| accou |      |       |        |            |             |         |         |
| nting |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| perio |      |       |        |            |        26.5 |     3.4 |    29.9 |
| d     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Chang |      |       |        |            |             |         |         |
| e in  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| minor |      |       |        |            |             |         |         |
| ity   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| inter |      |       |        |            |             |    -3.0 |    -4.8 |
| est   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Share |      |       |        |            |             |         |         |
| holde |      |       |        |            |             |         |         |
| rs'   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| equit |      |       |        |            |             |         |         |
| y,    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| 31.6. | 34.0 |   5.8 |    0.3 |        0.6 |       209.0 |    18.3 |   267.9 |
| 2007  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|       |      |       |        |            |             |         |  Share- |
--------------------------------------------------------------------------------
|       |      | Share | Trans- |    Revalu- |             |         | holders |
|       |      |       |        |            |             |         |       ' |
--------------------------------------------------------------------------------
|       | Shar | premi | lation |      ation |    Retained | Minorit | equity, |
|       |    e |    um |        |            |             |       y |         |
--------------------------------------------------------------------------------
| EUR   | capi | accou | differ |    reserve |    earnings | interes |   total |
| milli |  tal |    nt |   ence |            |             |       t |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Share |      |       |        |            |             |         |         |
| holde |      |       |        |            |             |         |         |
| rs'   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| equit |      |       |        |            |             |         |         |
| y,    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| 1.1.2 | 34.0 |   5.8 |    0.1 |        0.1 |       208.0 |    19.7 |   267.7 |
| 007   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Translation  |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| difference   |       |    0.4 |            |             |         |     0.4 |
--------------------------------------------------------------------------------
| Hedging of   |       |        |            |             |         |         |
| net          |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| investment   |       |        |            |             |         |         |
| in           |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| foreign      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| subsidiary   |       |   -0.4 |            |             |         |    -0.4 |
--------------------------------------------------------------------------------
| Cash  |      |       |        |            |             |         |         |
| flow  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| hedge |      |       |        |        0.2 |             |         |     0.2 |
| s     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Change in    |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| fair value   |       |        |        0.0 |             |         |     0.0 |
--------------------------------------------------------------------------------
| Effect of    |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| sold shares  |       |        |       -0.1 |             |         |    -0.1 |
--------------------------------------------------------------------------------
| Reversal of  |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| dividend     |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| liability    |       |        |            |         0.0 |         |     0.0 |
--------------------------------------------------------------------------------
| Dividend     |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| distribution |       |        |            |       -25.5 |    -1.9 |   -27.4 |
--------------------------------------------------------------------------------
| Profit/loss  |       |        |            |             |         |         |
| for          |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| the          |       |        |            |             |         |         |
| accounting   |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| period       |       |        |            |        72.9 |     7.6 |    80.6 |
--------------------------------------------------------------------------------
| Change in    |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| minority     |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| interest     |       |        |            |             |    -1.7 |    -1.7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shareholders |       |        |            |             |         |         |
| '            |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| equit |      |       |        |            |             |         |         |
| y     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| 31.12 | 34.0 |   5.8 |    0.1 |        0.2 |       255.4 |    23.7 |   319.2 |
| .2007 |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|       |      |       |        |            |             |         |  Share- |
--------------------------------------------------------------------------------
|       |      | Share | Trans- |    Revalu- |             |         | holders |
|       |      |       |        |            |             |         |       ' |
--------------------------------------------------------------------------------
|       | Shar | premi | lation |      ation |    Retained | Minorit | equity, |
|       |    e |    um |        |            |             |       y |         |
--------------------------------------------------------------------------------
| EUR   | capi | accou | differ |    reserve |    earnings | interes |   total |
| milli |  tal |    nt |   ence |            |             |       t |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Share |      |       |        |            |             |         |         |
| holde |      |       |        |            |             |         |         |
| rs'   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| equit |      |       |        |            |             |         |         |
| y,    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| 1.1.2 | 34.0 |   5.8 |    0.1 |        0.2 |       255.4 |    23.7 |   319.2 |
| 008   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Translation  |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| differences  |       |   -0.4 |            |             |         |    -0.4 |
--------------------------------------------------------------------------------
| Hedging of   |       |        |            |             |         |         |
| net          |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| investment   |       |        |            |             |         |         |
| in           |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| foreign      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| subsidiary   |       |    0.2 |            |             |         |     0.2 |
--------------------------------------------------------------------------------
| Cash  |      |       |        |            |             |         |         |
| flow  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| hedge |      |       |        |        0.9 |             |         |     0.9 |
| s     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Change in    |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| fair value   |       |        |        0.0 |             |         |     0.0 |
--------------------------------------------------------------------------------
| Reversal of  |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| dividend     |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| liability    |       |        |        0.0 |             |         |     0.0 |
--------------------------------------------------------------------------------
| Dividend     |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| distribution |       |        |            |       -30.6 |    -2.0 |   -32.6 |
--------------------------------------------------------------------------------
| Profit/loss  |       |        |            |             |         |         |
| for          |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| the          |       |        |            |             |         |         |
| accounting   |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| period       |       |        |            |        12.1 |     1.9 |    14.0 |
--------------------------------------------------------------------------------
| Change in    |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| minority     |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| interest     |       |        |            |             |    -0.6 |    -0.6 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Share |      |       |        |            |             |         |         |
| holde |      |       |        |            |             |         |         |
| rs'   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| equit |      |       |        |            |             |         |         |
| y     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| 31.6. | 34.0 |   5.8 |   -0.2 |        1.1 |       236.9 |    23.1 |   300.7 |
| 2008  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 5) CONSOLIDATED INCOME STATEMENT, QUARTERLY                                  |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|       | 10-1 |  1-3/ |   4-6/ |       7-9/ |      10-12/ |    1-3/ |    4-6/ |
|       |   2/ |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| EUR   | 2006 |  2007 |   2007 |       2007 |        2007 |    2008 |    2008 |
| milli |      |       |        |            |             |         |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net   | 490. | 328.0 |  551.9 |      655.7 |       638.5 |   444.9 |   645.9 |
| sales |    8 |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Other |      |       |        |            |             |         |         |
| opera |      |       |        |            |             |         |         |
| ting  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| incom |  8.5 |   7.9 |    2.6 |        1.0 |         1.7 |     1.9 |     2.3 |
| e     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Opera |      |       |        |            |             |         |         |
| ting  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| expen | 458. | 330.8 |  500.5 |      586.8 |       608.7 |   447.2 |  -601.7 |
| ses   |    0 |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Depre |  8.0 |   4.9 |    9.0 |       12.3 |         8.1 |     4.9 |     9.3 |
| ciati |      |       |        |            |             |         |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Opera |      |       |        |            |             |         |         |
| ting  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| profi | 33.4 |   0.3 |   45.0 |       57.6 |        23.4 |    -5.3 |    37.1 |
| t/los |      |       |        |            |             |         |         |
| s     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Finan |      |       |        |            |             |         |         |
| cial  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| expen |  5.7 |   4.1 |    5.1 |        6.3 |         6.7 |     7.8 |     9.8 |
| ses   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Finan |      |       |        |            |             |         |         |
| cial  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| incom |  2.1 |   1.0 |    1.9 |        0.6 |         2.7 |     1.7 |     3.3 |
| e     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Share |      |       |        |            |             |         |         |
| of    |      |       |        |            |             |         |         |
| the   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| resul |      |       |        |            |             |         |         |
| ts of |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| affil |      |       |        |            |             |         |         |
| iated |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| compa |  0.5 |  -0.1 |    0.1 |        0.7 |         0.3 |    -0.2 |     0.4 |
| nies  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Profi |      |       |        |            |             |         |         |
| t/los |      |       |        |            |             |         |         |
| s     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| befor | 30.3 |  -3.0 |   41.9 |       52.6 |        19.6 |   -11.6 |    31.0 |
| e     |      |       |        |            |             |         |         |
| taxes |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Incom | -6.1 |   1.1 |  -10.2 |      -12.3 |        -9.2 |     2.2 |    -7.6 |
| e     |      |       |        |            |             |         |         |
| taxes |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Profi |      |       |        |            |             |         |         |
| t/los |      |       |        |            |             |         |         |
| s for |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| the   |      |       |        |            |             |         |         |
| accou |      |       |        |            |             |         |         |
| nting |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| perio | 24.2 |  -1.8 |   31.7 |       40.3 |        10.4 |    -9.4 |    23.4 |
| d     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Distribution of the profit/loss for the    |             |         |         |
| accounting period                          |             |         |         |
--------------------------------------------------------------------------------
| To    |      |       |        |            |             |         |         |
| paren |      |       |        |            |             |         |         |
| t     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| compa |      |       |        |            |             |         |         |
| ny    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| share | 22.1 |  -3.7 |   30.2 |       38.7 |         7.8 |   -10.0 |    22.1 |
| holde |      |       |        |            |             |         |         |
| rs    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| To    |      |       |        |            |             |         |         |
| minor |      |       |        |            |             |         |         |
| ity   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| inter |  2.1 |   1.9 |    1.5 |        1.6 |         2.6 |     0.6 |     1.4 |
| ests  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EPS calculated from profit attributable to parent company shareholders       |
--------------------------------------------------------------------------------
| Earnings per share, diluted and undiluted                                    |
--------------------------------------------------------------------------------
| EUR   | 1.30 | -0.22 |   1.77 |       2.27 |        0.46 |   -0.59 |    1.30 |
--------------------------------------------------------------------------------
|       |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 6) NET SALES BY BUSINESS SECTOR                                              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EUR million  |       | 06/200 |    06/2007 |      Change | Change, | 12/2007 |
|              |       |      8 |            |             |         |         |
--------------------------------------------------------------------------------
|              |       |        |            |             |       % |         |
--------------------------------------------------------------------------------
| Building             |  571.9 |      442.3 |       129.6 |    29.3 | 1,042.9 |
| construction         |        |            |             |         |         |
--------------------------------------------------------------------------------
| Infrastructure       |  346.0 |      301.4 |        44.6 |    14.8 |   820.3 |
| construction         |        |            |             |         |         |
--------------------------------------------------------------------------------
| Technical building   |  124.4 |      103.4 |        21.0 |    20.3 |   230.2 |
| services             |        |            |             |         |         |
--------------------------------------------------------------------------------
| Building products    |   70.8 |       58.1 |        12.7 |    21.9 |   133.8 |
--------------------------------------------------------------------------------
| Others               |  -22.3 |      -25.3 |         3.0 |    11.9 |   -53.0 |
--------------------------------------------------------------------------------
| Group, total         | 1,090. |      879.9 |       210.9 |    24.0 | 2,174.1 |
|                      |      8 |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 7) NET SALES BY BUSINESS SECTOR, QUARTERLY                                   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|       | 10-1 |  1-3/ |   4-6/ |       7-9/ |      10-12/ |    1-3/ |    4-6/ |
|       |   2/ |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| EUR   | 2006 |  2007 |   2007 |       2007 |        2007 |    2008 |    2008 |
| milli |      |       |        |            |             |         |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Build |      |       |        |            |             |         |         |
| ing   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| const | 247. | 192.0 |  250.3 |      268.0 |       332.6 |   276.6 |   295.3 |
| ructi |    8 |       |        |            |             |         |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Infra |      |       |        |            |             |         |         |
| struc |      |       |        |            |             |         |         |
| ture  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| const | 173. |  81.4 |  220.0 |      301.7 |       217.2 |    95.5 |   250.5 |
| ructi |    3 |       |        |            |             |         |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Techn |      |       |        |            |             |         |         |
| ical  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| build |      |       |        |            |             |         |         |
| ing   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| servi | 56.3 |  46.2 |   57.2 |       58.5 |        68.3 |    56.5 |    68.0 |
| ces   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Build |      |       |        |            |             |         |         |
| ing   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| produ | 25.8 |  18.5 |   39.5 |       41.2 |        34.5 |    25.0 |    45.8 |
| cts   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Other | -12. | -10.1 |  -15.2 |      -13.6 |       -14.1 |    -8.6 |   -13.7 |
| s     |    4 |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Group | 490. | 328.0 |  551.9 |      655.7 |       638.5 |   444.9 |   645.9 |
| ,     |    8 |       |        |            |             |         |         |
| total |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 8) OPERATING PROFIT/LOSS BY BUSINESS SECTOR                                  |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EUR million  |       | 06/200 |    06/2007 |      Change | Change, | 12/2007 |
|              |       |      8 |            |             |         |         |
--------------------------------------------------------------------------------
|              |       |        |            |             |       % |         |
--------------------------------------------------------------------------------
| Building             |   21.4 |       31.8 |       -10.4 |   -32.7 |    71.5 |
| construction         |        |            |             |         |         |
--------------------------------------------------------------------------------
| Infrastructure       |    4.0 |        8.0 |        -4.0 |   -50.0 |    38.6 |
| construction         |        |            |             |         |         |
--------------------------------------------------------------------------------
| Technical building   |    8.1 |        4.6 |         3.5 |    76.1 |    11.9 |
| services             |        |            |             |         |         |
--------------------------------------------------------------------------------
| Building products    |    3.4 |        3.4 |         0.0 |     0.0 |    11.1 |
--------------------------------------------------------------------------------
| Others               |   -5.1 |       -2.6 |        -2.5 |    96.2 |    -6.7 |
--------------------------------------------------------------------------------
| Group, total         |   31.8 |       45.3 |       -13.5 |   -29.8 |   126.3 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 9) OPERATING PROFIT/LOSS BY BUSINESS SECTOR, QUARTERLY                       |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|       | 10-1 |  1-3/ |   4-6/ |       7-9/ |      10-12/ |    1-3/ |    4-6/ |
|       |   2/ |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| EUR   | 2006 |  2007 |   2007 |       2007 |        2007 |    2008 |    2008 |
| milli |      |       |        |            |             |         |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Build |      |       |        |            |             |         |         |
| ing   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| const | 20.5 |  14.6 |   17.2 |       14.3 |        25.5 |    10.1 |    11.3 |
| ructi |      |       |        |            |             |         |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Infra |      |       |        |            |             |         |         |
| struc |      |       |        |            |             |         |         |
| ture  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| const | 13.7 | -12.6 |   20.5 |       36.0 |        -5.5 |   -14.7 |    18.8 |
| ructi |      |       |        |            |             |         |         |
| on    |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Techn |      |       |        |            |             |         |         |
| ical  |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| build |      |       |        |            |             |         |         |
| ing   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| servi |  1.1 |   1.3 |    3.3 |        3.5 |         3.8 |     2.2 |     5.9 |
| ces   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Build |      |       |        |            |             |         |         |
| ing   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| produ |  0.3 |  -1.3 |    4.7 |        5.6 |         2.0 |    -1.5 |     4.9 |
| cts   |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Other | -2.2 |  -1.8 |   -0.8 |       -1.7 |        -2.4 |    -1.3 |    -3.7 |
| s     |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
| Group | 33.4 |   0.3 |   45.0 |       57.6 |        23.4 |    -5.3 |    37.1 |
| ,     |      |       |        |            |             |         |         |
| total |      |       |        |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 10) ECONOMIC TRENDS AND FINANCIAL INDICATORS                                 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|                               |    06/2008 |     06/2007 |         | 12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Return on equity, %           |        4.5 |        11.2 |         |    27.5 |
--------------------------------------------------------------------------------
| Return on investment, %       |        4.7 |         7.3 |         |    20.7 |
--------------------------------------------------------------------------------
| Operating profit/loss, % of   |        2.9 |         5.1 |         |     5.8 |
| net sales                     |            |             |         |         |
--------------------------------------------------------------------------------
| Equity ratio, %               |       23.9 |        26.6 |         |    32.7 |
--------------------------------------------------------------------------------
| Gearing, %                    |      171.5 |       146.0 |         |    87.2 |
--------------------------------------------------------------------------------
| Interest-bearing net debt,    |      515.6 |       391.2 |         |   278.5 |
| EUR million                   |            |             |         |         |
--------------------------------------------------------------------------------
| Gross investments, EUR        |            |             |         |         |
| million                       |            |             |         |         |
--------------------------------------------------------------------------------
| (incl. leasing purchases)     |       35.6 |        37.4 |         |    61.4 |
--------------------------------------------------------------------------------
| Order book, EUR mill.         |    1,696.7 |     1,622.0 |         | 1,414.1 |
--------------------------------------------------------------------------------
| - of which foreign orders,    |      456.4 |       449.3 |         |   284.0 |
| EUR mill.                     |            |             |         |         |
--------------------------------------------------------------------------------
| Average number of employees   |      9,498 |       8,762 |         |   9,201 |
--------------------------------------------------------------------------------
| Employees at end of period    |     10,919 |      10,397 |         |   8,718 |
--------------------------------------------------------------------------------
| Net sales, EUR mill.          |    1,090.8 |       879.9 |         | 2,174.1 |
--------------------------------------------------------------------------------
| - of which operations abroad, |      282.4 |       212.6 |         |   581.6 |
| EUR mill.                     |            |             |         |         |
--------------------------------------------------------------------------------
| % of net sales                |       25.9 |        24.2 |         |    26.8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 11) SHARE-SPECIFIC INDICATORS |    06/2008 |     06/2007 |         | 12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per share, EUR       |       0.71 |        1.55 |         |    4.29 |
--------------------------------------------------------------------------------
| Equity per share, EUR         |      16.31 |       14.67 |         |   17.36 |
--------------------------------------------------------------------------------
| Dividend per share, EUR       |            |             |         |    1.80 |
--------------------------------------------------------------------------------
| Dividend to earnings ratio, % |            |             |         |    42.0 |
--------------------------------------------------------------------------------
| Market capitalisation, EUR    |      493.8 |       892.8 |         |   536.2 |
| mill.                         |            |             |         |         |
--------------------------------------------------------------------------------
| Share price at end of period, |      29.01 |       52.45 |         |   31.50 |
| EUR                           |            |             |         |         |
--------------------------------------------------------------------------------
| Trading volume during period, |      2,158 |       3,139 |         |   5,204 |
| 1 000 shares                  |            |             |         |         |
--------------------------------------------------------------------------------
| Number of issued shares, 1    |     17,021 |      17,021 |         |  17,021 |
| 000 shares                    |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 12) TANGIBLE ASSETS                                                     |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EUR million     |       |        | 06/ | 06/2007 |             | 12/200 |    |
|                 |       |        | 200 |         |             |      7 |    |
|                 |       |        |   8 |         |             |        |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Acquisition cost at beginning of | 411 |   402.0 |             |  402.0 |    |
| period                           |  .5 |         |             |        |    |
--------------------------------------------------------------------------------
| Translation difference           | 0.3 |     0.8 |             |    0.6 |    |
--------------------------------------------------------------------------------
| Increases                        | 32. |    26.0 |             |   47.6 |    |
|                                  |   0 |         |             |        |    |
--------------------------------------------------------------------------------
| Increases from business          |     |         |             |        |    |
--------------------------------------------------------------------------------
| combinations                     | 1.6 |     3.4 |             |    3.7 |    |
--------------------------------------------------------------------------------
| Decreases                        | -10 |   -24.6 |             |  -42.4 |    |
|                                  |  .3 |         |             |        |    |
--------------------------------------------------------------------------------
| Accumulated depreciation         | -24 |  -229.1 |             | -235.5 |    |
|                                  | 4.2 |         |             |        |    |
--------------------------------------------------------------------------------
| Carrying amount at end of period | 191 |   178.5 |             |  176.1 |    |
|                                  |  .0 |         |             |        |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 13) DIVESTED BUSINESSES                                                 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| The Group does not have any non-current assets classified on the basis  |    |
| of                                                                      |    |
--------------------------------------------------------------------------------
| IFRS 5 as available for sale at the end of the accounting period.       |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| The Group did not divest any businesses during the review period.       |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 14) ACQUIRED BUSINESSES                                                 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Description of acquired enterprises, businesses and ownership interests |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| A construction business was acquired from Kokkolan NSA-Rakennus Oy      |    |
--------------------------------------------------------------------------------
| on 1 March 2008.                                                        |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Full ownership of Tolarock Oy was acquired on 5 June 2008. The          |    |
--------------------------------------------------------------------------------
| Company's business is rock engineering.                                 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Aggregated information on acquired businesses                           |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EUR million     |     Carrying amounts |                   Fair values  |    |
--------------------------------------------------------------------------------
|                 |       before merging |                  after merging |    |
--------------------------------------------------------------------------------
|          |      |            30.6.2008 |                      30.6.2008 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Tangible and intangible |        |     |         |             |        |    |
--------------------------------------------------------------------------------
| assets                  |        | 1.0 |         |             |    1.9 |    |
--------------------------------------------------------------------------------
| Inventories             |        | 1.2 |         |             |    1.5 |    |
--------------------------------------------------------------------------------
| Current receivables     |        | 0.7 |         |             |    0.7 |    |
--------------------------------------------------------------------------------
| Cash and cash           |        | 0.8 |         |             |    0.8 |    |
| equivalents             |        |     |         |             |        |    |
--------------------------------------------------------------------------------
| Assets, total           |        | 3.7 |         |             |    4.9 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Deferred tax            |        | 0.0 |         |             |    0.3 |    |
| liabilities             |        |     |         |             |        |    |
--------------------------------------------------------------------------------
| Interest-bearing        |        | 0.2 |         |             |    0.2 |    |
| liabilities             |        |     |         |             |        |    |
--------------------------------------------------------------------------------
| Other liabilities       |        | 0.4 |         |             |    0.4 |    |
--------------------------------------------------------------------------------
| Liabilities, total      |        | 0.6 |         |             |    1.0 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net assets              |        | 3.0 |         |             |    4.0 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Acquisition cost, total |        | 5.0 |         |             |    5.0 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Goodwill, total         |        |     |         |             |    1.1 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Transaction price paid in cash   |     |         |             |    5.0 |    |
--------------------------------------------------------------------------------
| Cash funds of acquired           |     |         |             |   -0.8 |    |
| subsidiary                       |     |         |             |        |    |
--------------------------------------------------------------------------------
| Cash flow effect                 |     |         |             |    4.2 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| The acquired businesses have no effect on the Group's operating result  |    |
| for                                                                     |    |
--------------------------------------------------------------------------------
| the accounting period. The net sales of the acquired businesses in 2007 |    |
--------------------------------------------------------------------------------
| were approx. EUR 16.0 million.                                          |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| The figures are provisional.                                            |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 15) RELATED-PARTY TRANSACTIONS                                          |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EUR million                      | 06/ | 06/2007 |             | 12/200 |    |
|                                  | 200 |         |             |      7 |    |
|                                  |   8 |         |             |        |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Sales of goods and services      |     |         |             |        |    |
--------------------------------------------------------------------------------
| To affiliated companies          | 0.0 |     0.0 |             |    0.1 |    |
--------------------------------------------------------------------------------
| To senior management             | 0.0 |     0.2 |             |    0.3 |    |
--------------------------------------------------------------------------------
| Total                            | 0.0 |     0.2 |             |    0.4 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Purchases of goods and services  |     |         |             |        |    |
--------------------------------------------------------------------------------
| From affiliated companies        | 3.0 |     1.4 |             |    5.7 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Trade receivables                |     |         |             |        |    |
--------------------------------------------------------------------------------
| From affiliated companies        | 0.1 |     0.0 |             |    0.0 |    |
--------------------------------------------------------------------------------
| From senior management           | 0.0 |     0.1 |             |    0.0 |    |
--------------------------------------------------------------------------------
| Total                            | 0.1 |     0.1 |             |    0.1 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Accounts payable                 |     |         |             |        |    |
--------------------------------------------------------------------------------
| To affiliated companies          | 0.3 |     0.0 |             |    0.0 |    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 16) GUARANTEES AND CONTINGENT LIABILITIES                                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EUR million                   |    06/2008 |     06/2007 |         | 12/2007 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Securities for own            |            |             |         |         |
| commitments                   |            |             |         |         |
--------------------------------------------------------------------------------
| Property mortgages            |        1.5 |         1.6 |         |     3.1 |
--------------------------------------------------------------------------------
| Business mortgages            |       94.8 |        99.5 |         |    95.3 |
--------------------------------------------------------------------------------
| Bonds pledged as security     |        0.6 |         0.8 |         |     0.8 |
--------------------------------------------------------------------------------
| Total                         |       96.9 |       101.9 |         |    99.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Guarantees                    |            |             |         |         |
--------------------------------------------------------------------------------
| On behalf of affiliated       |        0.1 |         0.8 |         |         |
| companies                     |            |             |         |         |
--------------------------------------------------------------------------------
| On behalf of others           |        8.4 |         3.8 |         |     9.9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Minimum lease payments of irrevocable lease agreements                       |
--------------------------------------------------------------------------------
| One year or less              |        7.1 |         5.8 |         |     5.7 |
--------------------------------------------------------------------------------
| One to five years             |       29.4 |        18.9 |         |    20.8 |
--------------------------------------------------------------------------------
| Over five years               |       22.1 |        20.7 |         |    20.2 |
--------------------------------------------------------------------------------
| Total                         |       58.6 |        45.4 |         |    46.7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Purchase commitments of       |        7.3 |         3.8 |         |    11.3 |
| investments                   |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Derivative contracts          |            |             |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Forward foreign exchange      |            |             |         |         |
| contracts                     |            |             |         |         |
--------------------------------------------------------------------------------
| Nominal value                 |       55.4 |        39.7 |         |    54.6 |
--------------------------------------------------------------------------------
| Fair value                    |        0.1 |        -0.1 |         |    -0.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Interest rate options, calls  |            |             |         |         |
| purchased                     |            |             |         |         |
--------------------------------------------------------------------------------
| Nominal value                 |        2.6 |        33.8 |         |     3.5 |
--------------------------------------------------------------------------------
| Fair value                    |        0.0 |         0.0 |         |     0.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Interest rate options, puts   |            |             |         |         |
| written                       |            |             |         |         |
--------------------------------------------------------------------------------
| Nominal value                 |        2.6 |         4.3 |         |     3.5 |
--------------------------------------------------------------------------------
| Fair value                    |        0.0 |         0.0 |         |     0.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Interest rate swap contracts  |            |             |         |         |
--------------------------------------------------------------------------------
| Nominal value                 |       77.7 |       110.1 |         |    95.6 |
--------------------------------------------------------------------------------
| Fair value                    |        1.4 |        -0.3 |         |    -0.5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| The fair value of contracts is the gain or loss arising from       |         |
| closure                                                            |         |
--------------------------------------------------------------------------------
| of the contract based on the market price on the accounting date.  |         |
--------------------------------------------------------------------------------



17) LEGAL PROCEEDINGS                                                           

Legal proceedings arising from IKEA's termination of construction contract for  
the MEGA shopping centre in St. Petersburg are now underway in the court of     
arbitration in Stockholm.                                                       
                                                                                
The Market Court imposed an infringement fine of EUR 14 million on Lemminkäinen 
for activities contravening competition law in road paving operations in        
Finland. The infringement fine was recognised as an expense in the fourth       
quarter of 2007. The decision has been appealed to the Supreme Administrative   
Court, so the total amount of the fine may change.                              

Lemminkäinen has been informed of an application for a summons in which the     
Finnish Road Administration is demanding compensatory damages from different    
asphalt companies before the Helsinki District Court. Lemminkäinen's share of   
the claimed compensation is at most EUR 10.5 million. The Finnish Road          
Administration is also seeking damages of at most EUR 5.6 million from          
Lemminkäinen, under joint and several liability with other defendant companies.