Lemminkäinen´s Interim Financial Review 1.1. - 31.3.2008: Net sales up over a third

LEMMINKÄINEN CORPORATION	INTERIM FINANCIAL REVIEW 8.5.2008 at 09:00 

LEMMINKÄINEN'S INTERIM FINANCIAL REVIEW 1.1. - 31.3.2008: Net sales up over a   
third                                                                           

- Net sales rose 36 % to EUR 444.9 million (328.0) 
- International operations accounted for EUR 107.2 million (68.9) of net sales 
- The operating result was EUR -5.3 million (0.3). 
- The result before taxes was EUR -11.6 million (-3.0) 
- Earnings per share were EUR -0.59 (-0.22) 
- The equity ratio was 26.3 % (27.3) and gearing 140.5 % (147.8) 
- The Company's order book at the end of the review period was EUR 1,644.2
million 
(1,439.7)                                                                       
- International business accounted for EUR 425.6 million (355.2) of the order
book 


GROWTH IN ALL BUSINESS SECTORS OF THE COMPANY                                   

Lemminkäinen's Q1 net sales grew 36 % in the first quarter of the year. Net     
sales were increased by the sustained level of active building construction in  
Finland and especially in Russia. The volume of business grew in all business   
sectors of the Company compared with last year. The Group's order book was 14   
per cent higher than at the end of the first quarter last year.                 

Lemminkäinen's Q1 operating result was EUR -5.3 million (0.3). The loss stems   
from the seasonal nature of the Group's business operations, especially asphalt 
paving. In Norway and Denmark the paving season started later than usual this   
year. Other operating income recognised in the first quarter was EUR 6.1 million
less than in the same period last year. Longer selling times of housing units   
resulted in housing production margins being recognised as income later than    
before.                                                                         

The Company's result before taxes was EUR -11.6 million (-3.0). The result was  
adversely impacted by higher financing costs due to factors such as increased   
working capital, higher interest rates, and exchange rate changes.              


FAVOURABLE OUTLOOK FOR 2008                                                     

In Finland the market for commercial, industrial and logistics construction is  
still good. In Russia building construction continues to be brisk and the       
outlook for Lemminkäinen is promising. The Company is actively involved in      
Finnish industry's plant building projects around the world, most notably in    
Poland, 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.  
Demand for mineral aggregates and ready-mix concrete is particularly good. The  
markets for rock engineering in Sweden and road construction in the Baltic      
states continue to grow.                                                        

Demand for maintenance, servicing and repair of technical building and facility 
systems is expected to remain brisk in Finland. The market for building         
materials will continue to be good in the near future.                          

The Group's record-breaking order book and the better profit margin of its      
content create the prerequisites for favourable business development in 2008.   


THE CHAIRMAN OF LEMMINKÄINEN'S BOARD OF DIRECTORS PASSED AWAY                   

Lemminkäinen's long-serving Chairman of the Board of Directors and the Company's
biggest shareholder, Heikki Pentti, passed away on 19 April 2008 after a serious
illness. The Board of Directors of Lemminkäinen Corporation has held an         
organisation meeting and elected Berndt Brunow, M.Sc. (Econ.) to serve as the   
new Chairman.                                                                   


FINANCIAL INFORMATION IN 2008                                                   

Lemminkäinen's next interim financial reviews will be published on 7 August and 
6 November 2008.                                                                

Presentation material concerning the result for the period 1.1.-31.3.2008 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 Manager, tel. +358 2071 54813               

APPENDICES:                                                                     

Interim Financial Review 1.1.-31.3.2008                                         
Tabulated Section of the Interim Financial Review                               

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



INTERIM FINANCIAL REVIEW 1.1.-31.3.2008                                         

OPERATING ENVIRONMENT                                                           

Finland                                                                         

The Finnish economy is expected to grow by just under 3 per cent this year.     
Higher housing prices, interest rates and energy prices will fuel the rate of   
inflation.                                                                      

According to an economic forecast published in April by the Confederation of    
Finnish Construction Industries, the total volume of construction will grow 4   
per cent this year, slowing to 1.5 per cent next year.                          

Demand for commercial and logistics construction will continue at a good level  
in 2008, but office construction is expected to slow down somewhat. Industrial  
construction is growing  and the building works of some major industrial        
projects, such as Finland's fifth nuclear power plant unit and the Talvivaara   
nickel mine, will continue for a long time yet. Refurbishment contracting will  
continue to grow steadily.                                                      

It is anticipated that 28,000 new housing starts will be made in Finland this   
year, compared with about 30,500 in 2007. The selling times of housing units    
have grown longer and the number of unsold completed units has risen.           

The infrastructure construction market has remained reasonably good and         
foundation engineering works in particular have been in sufficient demand. The  
volume of rock engineering work is down on last year. Demand for mineral        
aggregates and ready-mix concrete has been brisk.                               

(Sources: Confederation of Finnish Construction Industries, Research Institute  
of the Finnish Economy)                                                         


Relevant markets for Lemminkäinen abroad                                        

In the other Nordic countries, with the exception of Denmark, economic growth is
expected to be slightly higher than the average growth rate for the euro zone.  
Strong demand for rock engineering will continue in Sweden.                     

In the Baltic states, especially Estonia and Latvia, there will be a marked     
slowdown in economic growth this year and in 2009. A pickup in the rate of      
inflation will also weaken the outlook for the region. Plenty of new road       
construction and upgrade projects will be launched with the support of foreign  
funding.                                                                        

The Russian economy is expected to grow robustly also this year. The country's  
economic development will continue to be based on the growth of oil revenues and
consumption, However, investment has been growing quickly in recent years and   
its importance as a economic driver has increased. Demand for construction      
remains 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: Research Institute of the Finnish Economy, Nordea, Bank of Finland)   


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 materials.               

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

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.                                


GROUP NET SALES, EARNINGS AND BALANCE SHEET                                     

The Q1 net sales of Lemminkäinen Group rose 36 % to EUR 444.9 million (328.0).  
The Group generated 76 % (79) of its net sales in Finland, 10 % (12) in other   
Nordic countries, 5 % (1) in Russia, 4 % (3) in Eastern Europe and the Baltic   
states, and 5 % (5) in other countries.                                         


--------------------------------------------------------------------------------
| Net sales by business sector,   |    1-3/2008 |     1-3/2007 |     Change, % |
| EUR million                     |             |              |               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Building construction           |       276,6 |      192,01) |          44,1 |
--------------------------------------------------------------------------------
| Infrastructure construction     |        95,5 |       81,41) |          17,3 |
--------------------------------------------------------------------------------
| Technical building services     |        56,5 |         46,2 |          22,3 |
--------------------------------------------------------------------------------
| Building products               |        25,0 |         18,5 |          35,1 |
--------------------------------------------------------------------------------
| Other operations and intragroup |             |              |               |
--------------------------------------------------------------------------------
| eliminations                    |        -8,6 |        -10,1 |          14,9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total                    |       444,9 |        328,0 |          35,6 |
--------------------------------------------------------------------------------
1) pro forma                                                                    

The Q1 operating result was EUR -5.3 million (0.3) and the result before taxes  
EUR -11.6 million (-3.0). The result for the accounting period was EUR -9.4     
million (-1,8), of which EUR -10.0 million (-3.7) was attributable to           
shareholders of the parent company. Earnings per share were EUR -0.59 (-0.22).  

--------------------------------------------------------------------------------
| Operating profit/loss by business   | 1-3/2008 |     1-3/2007 |    Change, % |
| sector,                             |          |    Pro forma |              |
| EUR million                         |          |              |              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Building construction               |     10,1 |       14,61) |        -30,8 |
--------------------------------------------------------------------------------
| Infrastructure construction         |    -14,7 |      -12,61) |         16,7 |
--------------------------------------------------------------------------------
| Technical building services         |      2,2 |          1,3 |         69,2 |
--------------------------------------------------------------------------------
| Building products                   |     -1,5 |         -1,3 |         15,4 |
--------------------------------------------------------------------------------
| Others                              |     -1,3 |         -1,8 |         27,8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total                        |     -5,3 |          0,3 |              |
--------------------------------------------------------------------------------
1) pro forma                                                                    

The Company's cash funds at the end of the review period were EUR 93.8 million  
(55.8) and the net interest-bearing debt EUR 386.9 million (348.1). The equity  
ratio was 26.3 % (27.3) and gearing 140.5 % (147.8).                            

The Group's order book grew 14 % and at the end of the review period was EUR    
1,644.2 million (1,439.7). The market breakdown of the order book was Finland 74
% (75), other Nordic countries 13 % (13), Russia 6 % (4), Eastern Europe and the
Baltic states 5 % (5), and other countries 2 % (3).                             


BUSINESS SECTORS                                                                

BUILDING CONSTRUCTION                                                           

The Q1 net sales of the building construction business sector rose 44 % to EUR  
276.6 million (192,0)1), of which international operations accounted for 24 %   
(19)1). The business sector generated 76 % of its net sales in Finland, 5 % in  
other Nordic countries, 7 % in Russia, 5 % in North and South America, and 7 %  
in other countries. The growth in net sales was primarily due to active         
commercial and office construction in Helsinki metropolitan area and Lemcon     
Ltd's building construction operations in Russia.                               

The business sector's Q1 operating profit was EUR 10.1 million (14.6)1). The    
difference compared with Q1 last year stems mainly from the timing of income    
recognition, resulting in less other operating income being booked in the first 
quarter this year. Longer selling times of housing units resulted in housing    
production margins being recognised as income later than before.                

The order book grew 13 % and at the end of the review period was EUR 960.0      
million (849.8)1). The share of international operations in the order book grew 
46 % to EUR 185.1 (127,0)1).                                                    

1)pro forma                                                                     

Operations in Finland                                                           

Lemminkäinen made 186 (184) 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, compared with 852 units in 2007.                    

The market for commercial, industrial and logistics construction is still good, 
but demand for office construction has fallen off slightly. The interest of real
estate investors in Finnish investment properties remains healthy, but the      
requirements for investment returns have risen somewhat. The shortage of        
professionally skilled labour continues, but there are local variations.        


--------------------------------------------------------------------------------
| Lemminkäinen's private-sector    |    1-3/2008 |     1-3/2007 |    1-12/2007 |
| housing production in Finland,   |             |              |              |
| units                            |             |              |              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Housing starts                   |         186 |          184 |          852 |
--------------------------------------------------------------------------------
| Housing units sold               |         212 |          229 |          883 |
--------------------------------------------------------------------------------
| Unsold completed units           |         301 |          123 |          283 |
--------------------------------------------------------------------------------
| Completed                        |         187 |          308 |        1,488 |
--------------------------------------------------------------------------------
| Under construction at 30.3.2008  |       1,122 |        1,574 |        1,123 |
--------------------------------------------------------------------------------

At the end of the review period Lemminkäinen owned a total of 751,000 m2 of     
unused building rights in Finland, of which about 374,000 m2 were residential   
building rights. The Company also has conditional co-operation and zoning       
agreements for a further 673,000 m2, of which about 216 000 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                                                        

Lemminkäinen is starting to construct a 135-hectare industrial park in the      
province of Kaluga, Russia. In St. Petersburg the Company is building over 600  
housing units. The brand of Lemminkäinen's Russian housing sales is Dom Lemcon. 

The outlook for the Company in Russia over the next few years is promising, and 
especially in the St. Petersburg area the demand for housing will continue to be
good. The possibility of expanding housing construction to Central Russia is    
being investigated.                                                             

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. Growth in the construction of 2G and 3G telecom        
networks is expected to continue.                                               

Legal proceedings arising from IKEA's termination of the construction contract  
for the MEGA shopping centre in St. Petersburg are now underway in the court of 
arbitration in Stockholm.                                                       

--------------------------------------------------------------------------------
| Lemminkäinen's private-sector housing      |       1-3/2008 |      1-12/2007 |
| production in other countries, units       |                |                |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Housing starts                             |            607 |             91 |
--------------------------------------------------------------------------------
| Housing units sold                         |             47 |              - |
--------------------------------------------------------------------------------
| Unsold completed units                     |              0 |              - |
--------------------------------------------------------------------------------
| Completed                                  |              0 |              - |
--------------------------------------------------------------------------------
| Under construction at 30.3.2008            |            698 |             91 |
--------------------------------------------------------------------------------


INFRASTRUCTURE CONSTRUCTION                                                     

The Q1 net sales of the infrastructure construction business sector grew 17 % to
EUR 95.5 million (81.4)1), of which international operations accounted for 40 % 
(36)1). The business sector generated 60 % of its net sales in Finland, 31 % in 
other Nordic countries, 8 % in the Baltic states and 1 % in other countries. The
growth in net sales was primarily due to brisk demand for mineral aggregates and
ready-mix concrete in Finland.                                                  

The business sector's Q1 operating result was EUR -14.7 million (-12.6)1). The  
loss is customary and stems from the seasonal nature of business operations. The
order book grew 13 % and at the end of the review period was EUR 524.7 million  
(463.1)1), of which international operations accounted for EUR 238.3 million    
(221.0)1).                                                                      

1)pro forma                                                                     

Operations in Finland                                                           

Like last year the paving season began earlier than usual due to the mild       
winter. The total volume of paving work in Finland will remain at last years´   
level in 2008, and competition in the paving industry will continue to be       
fierce. Asphalt production costs have risen in the first quarter as a           
consequence of higher raw material costs.                                       

In transport infrastructure construction new major projects are in the planning 
stage, but a number of them will not start up until 2010. Lemminkäinen's        
on-going transport infrastructure projects will however ensure that the Company 
has a reasonable stock of orders this year and in 2009. The foundation          
engineering market has remained good and plenty of stabilisation contracts are  
on offer.                                                                       

Demand for mineral aggregates and ready-mix concrete has remained brisk         
throughout the first quarter. A shortage of stone crushing capacity is even     
expected to occur in places during the spring and summer.                       

International operations                                                        

In Norway and Denmark the paving season started slightly later than usual. The  
international order book as a whole is good and the outlook for the remainder of
the year is favourable.                                                         

In Denmark and Estonia the total volume of paving work will either remain       
unchanged or fall slightly in 2008. In Norway, Lithuania and Latvia it will     
rise. In the Baltic states the development of the road network will continue    
with the support of EU funding.                                                 

The Estonian Road Administration chose Lemminkäinen Infra Oy's subsidiary AS    
Talter as Estonia's best road construction company of 2007.                     

In Sweden Lemminkäinen has two large tunnels under construction. The Swedish    
rock engineering market will continue to be active this year.                   

TECHNICAL BUILDING SERVICES                                                     

The Q1 net sales of the technical building services business sector rose 22.3 % 
to EUR 56.5 million (46.2). Business volume grew in all areas of the business   
sector.                                                                         

The Q1 operating profit rose significantly to EUR 2.2 million (1.3) and the     
profit before taxes was EUR 2.7 million (1.6). The order book grew by almost a  
third to EUR 116.2 million (88.9).                                              

Brisk commercial and office construction has sustained demand for technical     
building services at a good level, but the market is expected to cool off       
slightly towards the end of the year.                                           

The market for maintenance, servicing and repair work has remained stable.      
Demand is also growing in Russia, where Tekmanni Service Oy set up operations in
2007.                                                                           


BUILDING PRODUCTS                                                               

The Q1 net sales of Lemminkäinen Building Products grew 35 % to EUR 25.0 million
(18.5). The business sector generated 8 % (8) of its net sales abroad, mainly in
other Nordic countries and Eastern Europe.                                      

The Q1 operating result was EUR -1.5 EUR million (-1.3) and the result before   
taxes EUR -1.6 million (-1.4). The loss is customary and stems from the seasonal
nature of business operations. The order book grew and at the end of the        
accounting period was EUR 43.4 million (37.9).                                  

Demand for roofing contracting has continued to be good and urban environment   
construction active. The roofing and yard contracting season has started earlier
than usual thanks to the mild winter and early spring.                          

The order book for the building products business sector is still at a good     
level. The slowdown of office and housing construction may weaken demand for    
some of the business sector's products and services towards the end of the year.


GROUP'S ORDER BOOK                                                              

Lemminkäinen's order book rose 14 % compared the end of Q1 last year. The market
breakdown of the order book was Finland 74 % (75), other Nordic countries 13 %  
(13), Russia 6 % (4), the Baltic states and Eastern Europe 5 % (5), and other   
countries 2 % (3).                                                              


--------------------------------------------------------------------------------
| Order book by business sector,    |      3/2008 |       3/2007 |   Change, % |
| EUR million                       |             |              |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Building construction             |       960.0 |      849.81) |        13.0 |
--------------------------------------------------------------------------------
| Infrastructure construction       |       524.7 |      463.11) |        13.3 |
--------------------------------------------------------------------------------
| Technical building services       |       116.2 |         88.9 |        30.7 |
--------------------------------------------------------------------------------
| Building products                 |        43.4 |         37.9 |        14.5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total, of which            |     1,644.2 |      1,439.7 |        14.2 |
--------------------------------------------------------------------------------
| International orders              |       425.6 |        355.2 |        19.8 |
--------------------------------------------------------------------------------
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.                 

Significant orders received after the review period                             

Lemminkäinen has signed an agreement concerning the technical building works for
Nokian Tyres Plc's plant expansion in Vsevolozhsk. The total floor area of the  
plant expansion is 29,000 m².                                                   

Lemminkäinen has made a service agreement 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.                                            


FINANCING                                                                       

According to the cash flow statement, the cash flow from operating activities   
was EUR -62.3 million (-24.2), the cash flow from investing activities EUR -9.4 
million (-12.6) and the cash flow from financing activities EUR 87.6 million    
(32.0). The cash flow for the review period includes dividends totalling EUR    
32.4 million (27.0) for 2007.                                                   

Interest-bearing liabilities at the end of the review period were EUR 480.7     
million (403.9) and liquid funds were EUR 93.8 million (55.8). Interest-bearing 
net debt was EUR 386.9 million (348.1).                                         

Net financing expenses were EUR 6.1 million (3.2), representing 1.4 % (1.0) of  
net sales. The equity ratio was 26.3 % (27.3) and gearing 140.5 % (147.8).      

The rise in financing costs was due to increased working capital, higher        
interest rates, exchange rate changes and hedges, and changes in the fair value 
of derivative contracts.                                                        


LEMMINKÄINEN'S SHARE                                                            

The listed price of Lemminkäinen Corporation's share was EUR 31.50 (36.10) at   
the beginning and EUR 35.09 (45.50) at the end of the review period. The market 
capitalisation at the end of the review period was EUR 597.3 million (774.5).   
Altogether 1,660,041 (2 024 914) shares worth EUR 51.1 million (83.9) were      
traded in the first quarter of the year. At the end of the review period the    
Company had 4,218 (3,353) shareholders.                                         


INVESTMENTS                                                                     

Investments in the accounting period amounted to EUR 15.2 million (21.9). 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 8,753   
(7,875). Approx. 72 % (72) of the employees were working in Finland, 10 % (10)  
in other Nordic countries, 11 % (11) in the Baltic states, and 7 % (7) in other 
countries.                                                                      

--------------------------------------------------------------------------------
| Personnel, average                |    1-3/2008 |     1-3/2007 |   Change, % |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Hourly paid employees             |       5,575 |        4,879 |        14.3 |
--------------------------------------------------------------------------------
| Salaried staff                    |       3,178 |        2,996 |         6.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Personnel, total, of whom         |       8,753 |        7,875 |        11.1 |
--------------------------------------------------------------------------------
| Working abroad                    |       2,456 |        2,178 |        12.8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Personnel at the end              |             |              |             |
--------------------------------------------------------------------------------
| of the review period              |       8,948 |        8,101 |        10.5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Wages, salaries and other         |             |              |             |
--------------------------------------------------------------------------------
| remuneration, EUR million         |        72.6 |         64.3 |        12.9 |
--------------------------------------------------------------------------------


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.                                                                    

The Board of Directors has on 22 April 2008 decided that Lemminkäinen           
Corporation will make a donation of EUR 100 000 to the Finnish Cancer           
Foundation.                                                                     


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. (Bulletins          
19.12.2007).                                                                    


RISKS AND UNCERTAINTIES OF THE NEAR FUTURE                                      

The most significant risk for Lemminkäinen in the near future is market risk.   
International financial market turbulence may extend to Finland and reflect on  
housing demand and other investments.                                           

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.    


FAVOURABLE OUTLOOK FOR 2008                                                     

The Group's  record-breaking order book and the better profit margin of its     
content create the prerequisites for the favourable business development in     
2008.                                                                           


Helsinki, 7 May 2008                                                            

LEMMINKÄINEN CORPORATION                                                        
Board of Directors                                                              


TABULATED SECTION OF THE INTERIM FINANCIAL REVIEW                               

ACCOUNTING PRINCIPLES                                                           

The same IFRS accounting and measurement principles as those applied in the     
annual financial statements for 2007 have been observed in the preparation of   
this interim financial review with the below-mentioned changes. As the tabulated
section is presented in an abbreviated format, not all of the requirements of   
IAS 34 Interim Financial Reporting have been observed in the preparation of this
review.                                                                         

Changes in the accounting principles with effect from 1 January 2008:           

- IFRIC 11 with regard to the application of IFRS 2 to share-based payment      
transactions                                                                    
- IFRIC 12 Service Concession Arrangements                                      
- IFRIC 14, IAS 19 The Limit on a                                               
Defined Benefit Asset, Minimum Funding Requirements and their Interaction       

The new interpretations do not have any effect on the Group's interim financial 
review.                                                                         

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

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


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| FINANCIAL STATEMENTS AND OTHER TABULATED INFORMATION                         |
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| 1) Consolidated income statement                                             |
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| 2) Consolidated balance sheet                                                |
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| 3) Consolidated cash flow statement                                          |
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| 4) Consolidated statement of changes in shareholders' equity                 |
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| 5) Consolidated income statement, quarterly                                  |
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| 6) Net sales by business sector                                              |
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| 7) Net sales by business sector, quarterly                                   |
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| 8) Operating profit by business sector                                       |
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| 9) Operating profit by business sector, quarterly                            |
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| 10) Economic trends and financial indicators                                 |
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| 11) Share-specific indicators                                                |
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| 12) Guarantees and contingent liabilities                                    |
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| 1) CONSOLIDATED INCOME STATEMENT                                             |
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--------------------------------------------------------------------------------
| EUR million               | 03/2008 | 03/200 |      Change | Change | 12/200 |
|                           |         |      7 |             |     ,  |      7 |
--------------------------------------------------------------------------------
|                           |         |        |             |      % |        |
--------------------------------------------------------------------------------
| Net sales                 |   444.9 |  328.0 |       116.9 |   35.6 | 2,174. |
|                           |         |        |             |        |      1 |
--------------------------------------------------------------------------------
| Other operating income    |  -445.3 | -322.8 |      -122.5 |   37.9 | -2,013 |
| and expenses              |         |        |             |        |     .6 |
--------------------------------------------------------------------------------
| Depreciation              |     4.9 |    4.9 |         0.0 |    0.0 |   34.2 |
--------------------------------------------------------------------------------
| Operating profit          |    -5.3 |    0.3 |        -5.6 |   over |  126.3 |
|                           |         |        |             |    100 |        |
--------------------------------------------------------------------------------
| Financial expenses        |     7.8 |    4.1 |         3.7 |   90.2 |   22.2 |
--------------------------------------------------------------------------------
| Financial income          |     1.7 |    1.0 |         0.7 |   70.0 |    6.2 |
--------------------------------------------------------------------------------
| Share of the results of   |         |        |             |        |        |
--------------------------------------------------------------------------------
| affiliated companies      |    -0.2 |   -0.1 |        -0.1 |  100.0 |    0.9 |
--------------------------------------------------------------------------------
| Profit/loss before taxes  |   -11.6 |   -3.0 |        -8.6 |   over |  111.2 |
|                           |         |        |             |    100 |        |
--------------------------------------------------------------------------------
| Income taxes              |     2.2 |    1.1 |         1.1 |  100.0 |  -30.6 |
--------------------------------------------------------------------------------
| Profit/loss for the       |    -9.4 |   -1.8 |        -7.6 |   over |   80.6 |
| accounting period         |         |        |             |    100 |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Distribution of the profit/loss for the      |             |        |        |
| accounting period                            |             |        |        |
--------------------------------------------------------------------------------
| To parent company         |   -10.0 |   -3.7 |        -6.3 |   over |   72.9 |
| shareholders              |         |        |             |    100 |        |
--------------------------------------------------------------------------------
| To minority interests     |     0.6 |    1.9 |        -1.3 |  -68.4 |    7.6 |
--------------------------------------------------------------------------------
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| EPS calculated from profit/loss attributable to parent company shareholders  |
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| Earnings per share, diluted and undiluted,                                   |
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| EUR                       |   -0.59 |  -0.22 |             |        |   4.29 |
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| 2) CONSOLIDATED BALANCE SHEET                                                |
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--------------------------------------------------------------------------------
| EUR million                         | 03/200 |     03/2007 |        | 12/200 |
|                                     |      8 |             |        |      7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current assets                  |        |             |        |        |
--------------------------------------------------------------------------------
| Tangible assets                     |  182.9 |       174.6 |        |  176.1 |
--------------------------------------------------------------------------------
| Goodwill                            |   75.8 |        75.1 |        |   75.1 |
--------------------------------------------------------------------------------
| Other intangible assets             |    2.6 |         2.3 |        |    2.6 |
--------------------------------------------------------------------------------
| Investments                         |    8.8 |         9.3 |        |    9.7 |
--------------------------------------------------------------------------------
| Deferred tax asset                  |    9.8 |         7.6 |        |    4.9 |
--------------------------------------------------------------------------------
| Other non-current receivables       |    5.2 |         2.4 |        |    3.7 |
--------------------------------------------------------------------------------
| Total                               |  285.1 |       271.3 |        |  272.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current assets                      |        |             |        |        |
--------------------------------------------------------------------------------
| Inventories                         |  350.4 |       294.7 |        |  330.9 |
--------------------------------------------------------------------------------
| Trade and other receivables         |  419.7 |       335.8 |        |  387.4 |
--------------------------------------------------------------------------------
| Cash funds                          |   93.8 |        55.8 |        |   78.5 |
--------------------------------------------------------------------------------
| Total                               |  863.9 |       686.3 |        |  796.9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets, total                       | 1,149. |       957.6 |        | 1,069. |
|                                     |      0 |             |        |      0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shareholders' equity and            |        |             |        |        |
| liabilities                         |        |             |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity attributable to parent company shareholders                           |
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| Share capital                       |   34.0 |        34.0 |        |   34.0 |
--------------------------------------------------------------------------------
| Share premium account               |    5.8 |         5.8 |        |    5.8 |
--------------------------------------------------------------------------------
| Revaluation reserve                 |   -0.3 |         0.1 |        |    0.2 |
--------------------------------------------------------------------------------
| Translation differences             |   -0.3 |         0.1 |        |    0.1 |
--------------------------------------------------------------------------------
| Retained earnings                   |  224.8 |       182.5 |        |  182.5 |
--------------------------------------------------------------------------------
| Profit/loss for the period          |  -10.0 |        -3.7 |        |   72.9 |
--------------------------------------------------------------------------------
| Shareholders' equity                |        |             |        |        |
--------------------------------------------------------------------------------
| before minority interest            |  253.9 |       218.8 |        |  295.5 |
--------------------------------------------------------------------------------
| Minority interest                   |   21.5 |        16.7 |        |   23.7 |
--------------------------------------------------------------------------------
| Shareholders' equity, total         |  275.4 |       235.5 |        |  319.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current liabilities             |        |             |        |        |
--------------------------------------------------------------------------------
| Deferred tax liabilities            |   13.7 |        15.8 |        |   12.9 |
--------------------------------------------------------------------------------
| Pension liabilities                 |    0.6 |         1.2 |        |    0.6 |
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| Provisions                          |    2.0 |         1.9 |        |    1.7 |
--------------------------------------------------------------------------------
| Interest-bearing liabilities        |  140.5 |       101.6 |        |  139.5 |
--------------------------------------------------------------------------------
| Other liabilities                   |    1.9 |         1.7 |        |    1.9 |
--------------------------------------------------------------------------------
| Total                               |  158.7 |       122.1 |        |  156.6 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current liabilities                 |        |             |        |        |
--------------------------------------------------------------------------------
| Accounts payable and other          |  368.9 |       292.3 |        |  369.2 |
| liabilities                         |        |             |        |        |
--------------------------------------------------------------------------------
| Provisions                          |    5.7 |         5.4 |        |    6.4 |
--------------------------------------------------------------------------------
| Interest-bearing liabilities        |  340.2 |       302.4 |        |  217.6 |
--------------------------------------------------------------------------------
| Total                               |  714.8 |       600.0 |        |  593.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shareholders' equity and            | 1,149. |       957.6 |        | 1,069. |
| liabilities, total                  |      0 |             |        |      0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 3) CONSOLIDATED CASH FLOW STATEMENT                                          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EUR million               |         | 03/200 | 03/2007 |            | 12/200 |
|                           |         |      8 |         |            |      7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit before extraordinary items   |  -11.6 |    -3.0 |            |  111.2 |
--------------------------------------------------------------------------------
| Depreciation according to plan      |    4.9 |     4.9 |            |   34.2 |
--------------------------------------------------------------------------------
| Other adjustments                   |    4.7 |    -3.7 |            |    7.7 |
--------------------------------------------------------------------------------
| Cash flow before change             |        |         |            |        |
--------------------------------------------------------------------------------
| in working capital                  |   -2.0 |    -1.8 |            |  153.1 |
--------------------------------------------------------------------------------
| Change in working capital           |  -48.6 |   -14.8 |            |  -32.9 |
--------------------------------------------------------------------------------
| Financial items                     |   -4.7 |    -2.7 |            |  -17.9 |
--------------------------------------------------------------------------------
| Direct taxes paid                   |   -6.9 |    -5.0 |            |  -22.6 |
--------------------------------------------------------------------------------
| Cash flow from operating activities |  -62.3 |   -24.2 |            |   79.6 |
--------------------------------------------------------------------------------
| Cash flow provided by investing     |    3.0 |    13.9 |            |   24.3 |
| activities                          |        |         |            |        |
--------------------------------------------------------------------------------
| Cash flow used in investing         |  -12.4 |   -26.5 |            |  -53.8 |
| activities                          |        |         |            |        |
--------------------------------------------------------------------------------
| Change in non-current receivables   |   -0.5 |    -0.2 |            |   -1.4 |
--------------------------------------------------------------------------------
| Drawings of loans                   |  637.9 |   215.0 |            |  329.3 |
--------------------------------------------------------------------------------
| Repayments of loans                 | -517.4 |  -155.8 |            | -332.5 |
--------------------------------------------------------------------------------
| Dividends paid                      |  -32.4 |   -27.0 |            |  -27.4 |
--------------------------------------------------------------------------------
| Cash flow from financing activities |   87.6 |    32.0 |            |  -32.0 |
--------------------------------------------------------------------------------
| Change in cash funds                |   16.0 |    -4.8 |            |   18.1 |
--------------------------------------------------------------------------------
| Cash funds at beginning of period   |   78.5 |    60.6 |            |   60.6 |
--------------------------------------------------------------------------------
| Translation difference of cash      |   -0.7 |     0.0 |            |   -0.2 |
| funds                               |        |         |            |        |
--------------------------------------------------------------------------------
| Cash funds at end of period         |   93.8 |    55.8 |            |   78.5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
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| 4) CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY                 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|            |      |       |         |        |             |        | Share- |
--------------------------------------------------------------------------------
|            |      | Share |  Trans- | Revalu |             |        | holder |
|            |      |       |         |      - |             |        |     s' |
--------------------------------------------------------------------------------
|            | Shar | premi |  lation |  ation |    Retained | Minori | equity |
|            |    e |    um |         |        |             |     ty |      , |
--------------------------------------------------------------------------------
| EUR        | capi | accou | differe | reserv |    earnings | intere |  total |
| million    |  tal |    nt |     nce |      e |             |     st |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shareholde |      |       |         |        |             |        |        |
| rs'        |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| equity     |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 1.1.2007   | 34.0 |   5.8 |     0.1 |    0.1 |       208.0 |   19.7 |  267.7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Translation       |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| difference        |       |     0.2 |        |             |        |    0.2 |
--------------------------------------------------------------------------------
| Hedging of net    |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| investment in     |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| foreign           |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| subsidiary        |       |    -0.2 |        |             |        |   -0.2 |
--------------------------------------------------------------------------------
| Change in         |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| fair value        |       |         |    0.0 |             |        |    0.0 |
--------------------------------------------------------------------------------
| Dividend   |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| distributi |      |       |         |        |       -25.5 |   -1.5 |  -27.0 |
| on         |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| Profit/los |      |       |         |        |             |        |        |
| s for      |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| the        |      |       |         |        |             |        |        |
| accounting |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| period     |      |       |         |        |        -3.7 |    1.9 |   -1.8 |
--------------------------------------------------------------------------------
| Change in  |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| minority   |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| interest   |      |       |         |        |             |   -3.4 |   -3.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shareholde |      |       |         |        |             |        |        |
| rs'        |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| equity,    |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| 31.3.2007  | 34.0 |   5.8 |     0.1 |    0.1 |       178.8 |   16.7 |  235.5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|            |      |       |         |        |             |        | Share- |
--------------------------------------------------------------------------------
|            |      | Share |  Trans- | Revalu |             |        | holder |
|            |      |       |         |      - |             |        |     s' |
--------------------------------------------------------------------------------
|            | Shar | premi |  lation |  ation |    Retained | Minori | equity |
|            |    e |    um |         |        |             |     ty |      , |
--------------------------------------------------------------------------------
| EUR        | capi | accou | differe | reserv |    earnings | intere |  total |
| million    |  tal |    nt |     nce |      e |             |     st |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shareholde |      |       |         |        |             |        |        |
| rs'        |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| equity,    |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| 1.1.2007   | 34.0 |   5.8 |     0.1 |    0.1 |       208.0 |   19.7 |  267.7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Translation       |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| difference        |       |     0.4 |        |             |        |    0.4 |
--------------------------------------------------------------------------------
| Hedging of net    |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| investment in     |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| foreign           |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| subsidiary        |       |    -0.4 |        |             |        |   -0.4 |
--------------------------------------------------------------------------------
| Cash flow  |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| hedges     |      |       |         |    0.2 |             |        |    0.2 |
--------------------------------------------------------------------------------
| 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'     |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| equity     |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| 31.12.2007 | 34.0 |   5.8 |     0.1 |    0.2 |       255.4 |   23.7 |  319.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|            |      |       |         |        |             |        | Share- |
--------------------------------------------------------------------------------
|            |      | Share |  Trans- | Revalu |             |        | holder |
|            |      |       |         |      - |             |        |     s' |
--------------------------------------------------------------------------------
|            | Shar | premi |  lation |  ation |    Retained | Minori | equity |
|            |    e |    um |         |        |             |     ty |      , |
--------------------------------------------------------------------------------
| EUR        | capi | accou | differe | reserv |    earnings | intere |  total |
| million    |  tal |    nt |     nce |      e |             |     st |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shareholde |      |       |         |        |             |        |        |
| rs'        |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| equity,    |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| 1.1.2008   | 34.0 |   5.8 |     0.1 |    0.2 |       255.4 |   23.7 |  319.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Translation       |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| difference        |       |    -0.6 |        |             |        |   -0.6 |
--------------------------------------------------------------------------------
| Hedging of net    |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| investment in     |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| foreign           |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| subsidiary        |       |     0.2 |        |             |        |    0.2 |
--------------------------------------------------------------------------------
| Cash flow  |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| hedges     |      |       |         |   -0.5 |             |        |   -0.5 |
--------------------------------------------------------------------------------
| Effect of         |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| sold shares       |       |         |    0.0 |             |        |    0.0 |
--------------------------------------------------------------------------------
| Dividend          |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| distribution      |       |         |        |       -30.6 |   -1.7 |  -32.4 |
--------------------------------------------------------------------------------
| Profit/loss for   |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| the accounting    |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| period            |       |         |        |       -10.0 |    0.6 |   -9.4 |
--------------------------------------------------------------------------------
| Change in         |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| minority          |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| interest          |       |         |        |             |   -1.1 |   -1.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shareholde |      |       |         |        |             |        |        |
| rs'        |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| equity     |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| 31.3.2008  | 34.0 |   5.8 |    -0.3 |   -0.3 |       214.8 |   21.5 |  275.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 5) CONSOLIDATED INCOME STATEMENT, QUARTERLY                                  |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|            | 7-9/ | 10-12 |    1-3/ |   4-6/ |        7-9/ | 10-12/ |   1-3/ |
|            |      |     / |         |        |             |        |        |
--------------------------------------------------------------------------------
| EUR        | 2006 |  2006 |    2007 |   2007 |        2007 |   2007 |   2008 |
| million    |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net sales  | 573. | 490.8 |   328.0 |  551.9 |       655.7 |  638.5 |  444.9 |
|            |    9 |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| Other operating   |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| income and        |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| expenses   | -505 | -449. |  -322.8 | -498.0 |      -585.8 | -607.0 | -445.3 |
|            |   .4 |     4 |         |        |             |        |        |
--------------------------------------------------------------------------------
| Depreciati | 12.8 |   8.0 |     4.9 |    9.0 |        12.3 |    8.1 |    4.9 |
| on         |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| Operating  |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| profit/los | 55.7 |  33.4 |     0.3 |   45.0 |        57.6 |   23.4 |   -5.3 |
| s          |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| Financial  |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| expenses   |  4.6 |   5.7 |     4.1 |    5.1 |         6.3 |    6.7 |    7.8 |
--------------------------------------------------------------------------------
| Financial  |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| income     |  0.4 |   2.1 |     1.0 |    1.9 |         0.6 |    2.7 |    1.7 |
--------------------------------------------------------------------------------
| Share of   |      |       |         |        |             |        |        |
| the        |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| results of |      |       |         |        |             |        |        |
| affili-    |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| ated       |  0.8 |   0.5 |    -0.1 |    0.1 |         0.7 |    0.3 |   -0.2 |
| companies  |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| Profit/los |      |       |         |        |             |        |        |
| s          |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| before     | 52.3 |  30.3 |    -3.0 |   41.9 |        52.6 |   19.6 |  -11.6 |
| taxes      |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| Income     | -12. |  -6.1 |     1.1 |  -10.2 |       -12.3 |   -9.2 |    2.2 |
| taxes      |    1 |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| Profit/los |      |       |         |        |             |        |        |
| s for      |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| the        |      |       |         |        |             |        |        |
| accounting |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| period     | 40.1 |  24.2 |    -1.8 |   31.7 |        40.3 |   10.4 |   -9.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Distribution of the profit/loss for the      |             |        |        |
| accounting period                            |             |        |        |
--------------------------------------------------------------------------------
| To parent  |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| company    |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| shareholde | 38.4 |  22.1 |    -3.7 |   30.2 |        38.7 |    7.8 |  -10.0 |
| rs         |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| To         |      |       |         |        |             |        |        |
| minority   |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| interests  |  1.7 |   2.1 |     1.9 |    1.5 |         1.6 |    2.6 |    0.6 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EPS calculated from profit attributable to parent company shareholders       |
--------------------------------------------------------------------------------
| Earnings per share, diluted and undiluted                                    |
--------------------------------------------------------------------------------
| EUR        | 2.26 |  1.30 |   -0.22 |   1.77 |        2.27 |   0.46 |  -0.59 |
--------------------------------------------------------------------------------
|            |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 6) NET SALES BY BUSINESS SECTOR                                              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EUR million       |       | 03/2008 | 03/200 |      Change | Change | 12/200 |
|                   |       |         |      7 |             |     ,  |      7 |
--------------------------------------------------------------------------------
|                   |       |         |        |             |      % |        |
--------------------------------------------------------------------------------
| Building construction     |   276.6 |  192.0 |        84.6 |   44.1 | 1,042. |
|                           |         |        |             |        |      9 |
--------------------------------------------------------------------------------
| Infrastructure            |    95.5 |   81.4 |        14.1 |   17.3 |  820.3 |
| construction              |         |        |             |        |        |
--------------------------------------------------------------------------------
| Technical building        |    56.5 |   46.2 |        10.3 |   22.3 |  230.2 |
| services                  |         |        |             |        |        |
--------------------------------------------------------------------------------
| Building materials        |    25.0 |   18.5 |         6.5 |   35.1 |  133.8 |
--------------------------------------------------------------------------------
| Others                    |    -8.6 |  -10.1 |         1.5 |   14.9 |  -53.0 |
--------------------------------------------------------------------------------
| Group, total              |   444.9 |  328.0 |       116.9 |   35.6 | 2,174. |
|                           |         |        |             |        |      1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 7) NET SALES BY BUSINESS SECTOR, QUARTERLY                                   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|            | 7-9/ | 10-12 |    1-3/ |   4-6/ |        7-9/ | 10-12/ |   1-3/ |
|            |      |     / |         |        |             |        |        |
--------------------------------------------------------------------------------
| EUR        | 2006 |  2006 |    2007 |   2007 |        2007 |   2007 |   2008 |
| million    |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Building   |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| constructi | 213. | 247.8 |   192.0 |  250.3 |       268.0 |  332.6 |  276.6 |
| on         |    8 |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| Infrastruc |      |       |         |        |             |        |        |
| ture       |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| constructi | 289. | 173.3 |    81.4 |  220.0 |       301.7 |  217.2 |   95.5 |
| on         |    7 |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| Technical  |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| building   | 47.6 |  56.3 |    46.2 |   57.2 |        58.5 |   68.3 |   56.5 |
| services   |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| Building   |      |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| products   | 37.2 |  25.8 |    18.5 |   39.5 |        41.2 |   34.5 |   25.0 |
--------------------------------------------------------------------------------
| Others     | -14. | -12.4 |   -10.1 |  -15.2 |       -13.6 |  -14.1 |   -8.6 |
|            |    5 |       |         |        |             |        |        |
--------------------------------------------------------------------------------
| Group,     | 573. | 490.8 |   328.0 |  551.9 |       655.7 |  638.5 |  444.9 |
| total      |    9 |       |         |        |             |        |        |
--------------------------------------------------------------------------------
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| 8) OPERATING PROFIT/LOSS BY BUSINESS SECTOR                                  |
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| EUR million       |       | 03/2008 | 03/200 |      Change | Change | 12/200 |
|                   |       |         |      7 |             |     ,  |      7 |
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|                   |       |         |        |             |      % |        |
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| Building construction     |    10.1 |   14.6 |        -4.5 |  -30.8 |   71.5 |
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| Infrastructure            |   -14.7 |  -12.6 |        -2.1 |   16.7 |   38.6 |
| construction              |         |        |             |        |        |
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| Technical building        |     2.2 |    1.3 |         0.9 |   69.2 |   11.9 |
| services                  |         |        |             |        |        |
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| Building materials        |    -1.5 |   -1.3 |        -0.2 |   15.4 |   11.1 |
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| Others                    |    -1.3 |   -1.8 |         0.5 |   27.8 |   -6.7 |
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| Group, total              |    -5.3 |    0.3 |        -5.6 |   over |  126.3 |
|                           |         |        |             |    100 |        |
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| 9) OPERATING PROFIT/LOSS BY BUSINESS SECTOR, QUARTERLY                       |
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|            | 7-9/ | 10-12 |    1-3/ |   4-6/ |        7-9/ | 10-12/ |   1-3/ |
|            |      |     / |         |        |             |        |        |
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| EUR        | 2006 |  2006 |    2007 |   2007 |        2007 |   2007 |   2008 |
| million    |      |       |         |        |             |        |        |
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| Building   |      |       |         |        |             |        |        |
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| constructi | 12.5 |  20.5 |    14.6 |   17.2 |        14.3 |   25.5 |   10.1 |
| on         |      |       |         |        |             |        |        |
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| Infrastruc |      |       |         |        |             |        |        |
| ture       |      |       |         |        |             |        |        |
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| constructi | 36.3 |  13.7 |   -12.6 |   20.5 |        36.0 |   -5.5 |  -14.7 |
| on         |      |       |         |        |             |        |        |
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| Technical  |      |       |         |        |             |        |        |
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| building   |  3.4 |   1.1 |     1.3 |    3.3 |         3.5 |    3.8 |    2.2 |
| services   |      |       |         |        |             |        |        |
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| Building   |      |       |         |        |             |        |        |
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| products   |  4.6 |   0.3 |    -1.3 |    4.7 |         5.6 |    2.0 |   -1.5 |
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| Others     | -1.2 |  -2.2 |    -1.8 |   -0.8 |        -1.7 |   -2.4 |   -1.3 |
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| Group,     | 55.7 |  33.4 |     0.3 |   45.0 |        57.6 |   23.4 |   -5.3 |
| total      |      |       |         |        |             |        |        |
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| 10) ECONOMIC TRENDS AND FINANCIAL INDICATORS                                 |
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|                                     | 03/200 |     03/2007 |        | 12/200 |
|                                     |      8 |             |        |      7 |
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| Return on equity, %                 |   -3.2 |        -0.7 |        |   27.5 |
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| Return on investment, %             |   -0.5 |         0.2 |        |   20.7 |
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| Operating profit/loss, % of net     |   -1.2 |         0.1 |        |    5.8 |
| sales                               |        |             |        |        |
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| Equity ratio, %                     |   26.3 |        27.3 |        |   32.7 |
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| Gearing, %                          |  140.5 |       147.8 |        |   87.2 |
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| Interest-bearing net debt, EUR      |  386.9 |       348.1 |        |  278.5 |
| million                             |        |             |        |        |
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| Gross investments, EUR million      |        |             |        |        |
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| (incl. leasing purchases)           |   15.2 |        21.9 |        |   61.4 |
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| Order book, EUR mill.               | 1,644. |     1,439.7 |        | 1,414. |
|                                     |      2 |             |        |      1 |
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| - of which foreign orders, EUR      |  425.6 |       355.2 |        |  284.0 |
| mill.                               |        |             |        |        |
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| Average number of employees         |  8,753 |       7,875 |        |  9,201 |
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| Employees at end of period          |  8,948 |       8,101 |        |  8,718 |
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| Net sales, EUR mill.                |  444.9 |       328.0 |        | 2,174. |
|                                     |        |             |        |      1 |
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| - of which operations abroad, EUR   |  107.2 |        68.9 |        |  581.6 |
| mill.                               |        |             |        |        |
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| % of net sales                      |   24.1 |        21.0 |        |   26.8 |
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| 11) SHARE-SPECIFIC INDICATORS       | 03/200 |     03/2007 |        | 12/200 |
|                                     |      8 |             |        |      7 |
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| Earnings per share, EUR             |  -0.59 |       -0.22 |        |   4.29 |
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| Equity per share, EUR               |  14.92 |       12.85 |        |  17.36 |
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| Dividend per share, EUR             |        |             |        |   1.80 |
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| Dividend to earnings ratio, %       |        |             |        |   42.0 |
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| Market capitalisation, EUR mill.    |  597.3 |       774.5 |        |  536.2 |
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| Share price at end of period, EUR   |  35.09 |       45.50 |        |  31.50 |
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| Trading volume during period, 1 000 |  1,660 |       2,025 |        |  5,204 |
| shares                              |        |             |        |        |
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| Number of issued shares, 1 000      | 17,021 |      17,021 |        | 17,021 |
| shares                              |        |             |        |        |
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| 12) GUARANTEES AND CONTINGENT LIABILITIES                                    |
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| EUR million                         | 03/200 |     03/2007 |        | 12/200 |
|                                     |      8 |             |        |      7 |
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| Securities for own commitments      |        |             |        |        |
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| Property mortgages                  |    1.5 |         1.6 |        |    3.1 |
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| Business mortgages                  |   95.3 |        99.5 |        |   95.3 |
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| Bonds pledged as security           |    0.8 |         0.8 |        |    0.8 |
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| Total                               |   97.7 |       101.9 |        |   99.2 |
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| Guarantees                          |        |             |        |        |
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| On behalf of affiliated companies   |    0.1 |         0.8 |        |        |
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| On behalf of others                 |    8.5 |         3.8 |        |    9.9 |
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| Minimum lease payments of irrevocable lease agreements                       |
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| One year or less                    |    6.5 |         5.7 |        |    5.7 |
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| One to five years                   |   26.2 |        19.1 |        |   20.8 |
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| Over five years                     |   17.3 |        20.6 |        |   20.2 |
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| Total                               |   50.0 |        45.4 |        |   46.7 |
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| Purchase commitments of investments |   10.7 |         7.3 |        |   11.3 |
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| Legal proceedings arising from IKEA's termination of the   |        |        |
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| construction contract for the MEGA shopping centre in St.  |        |        |
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| Petersburg are now underway in the court of arbitration in |        |        |
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| Stockholm.                                                 |        |        |
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| The Market Court imposed an infringement fine of EUR 14    |        |        |
| million on                                                 |        |        |
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| Lemminkäinen for activities contravening competition law   |        |        |
| in road                                                    |        |        |
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| paving operations in Finland. The infringement fine was    |        |        |
| recognised                                                 |        |        |
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| as an expense in the fourth quarter of 2007. The decision  |        |        |
| has been                                                   |        |        |
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| appealed to the Supreme Administrative Court, so the total |        |        |
| amount                                                     |        |        |
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| of the fine may change.                                    |        |        |
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| Derivative contracts                |        |             |        |        |
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| Forward foreign exchange contracts  |        |             |        |        |
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| Nominal value                       |   55.4 |        38.1 |        |   54.6 |
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| Fair value                          |    0.1 |         0.0 |        |   -0.2 |
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| Interest rate options, calls        |        |             |        |        |
| purchased                           |        |             |        |        |
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| Nominal value                       |    3.4 |        34.5 |        |    3.5 |
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| Fair value                          |    0.0 |         0.0 |        |    0.0 |
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| Interest rate options, puts written |        |             |        |        |
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| Nominal value                       |    3.4 |         5.1 |        |    3.5 |
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| Fair value                          |    0.0 |        -0.1 |        |    0.0 |
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| Interest rate swap contracts        |        |             |        |        |
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| Nominal value                       |   95.6 |        30.2 |        |   95.6 |
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| Fair value                          |   -1.6 |        -1.6 |        |   -0.5 |
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| The fair value of contracts is the gain or loss arising from        |        |
| closure of the                                                      |        |
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| contract based on the market price on the accounting date.          |        |
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