INTERIM REPORT 1 JANUARY -30 June 2009

                                  

Reporting period 1 January 30 June 2009 in brief:                               
- SRV's revenue was EUR 180.6 million (EUR 288.8 million in January-June 2008), 
change 37.5% negative                                                           
- Operating profit was EUR 5.4 million  (EUR 18.1 million), change 70.2%        
negative                                                                        
- Profit before taxes was EUR 2.9 million (EUR 15.1 million), change 80.5%      
negative                                                                        
- The order backlog at the close of the review period was EUR 458.4 million (EUR
521.1 million), change 12.0% negative                                           
- The equity ratio was 40.4 per cent (44.9%)                                    
- Earnings per share were EUR 0.03  (EUR 0.28)                                  
- SRV adheres to the previous outlook for 2009                                  

Second quarter 1 April - 30 June 2009 in brief:                                 
- Revenue amounted to EUR 94.2 million (EUR 142.4 million in April - June  2008)
- Operating profit was EUR 3.5 million (EUR 9.2 million)                        
- Profit before taxes was EUR 2.5 million (EUR 6.8 million)                     
- Earnings per share were EUR 0.03 (EUR 0.12)                                   

The interim report has been prepared in accordance with IAS 34. The disclosed   
information is unaudited.                                                       

“Decline in construction industry continued during the first half of the year.  
Compared with the corresponding period of 2008, the revenue and operating profit
of SRV Group decreased clearly. Competition for new orders remained tight.      

Revenue and operating profit for SRV's Business Premises business area declined 
compared with the corresponding period last year. However, operational          
profitability remained on good level. Housing sales has picked up from the      
all-time low level at the end of the previous year.  Weakening of the Russian   
economy has put both SRV's and the clients' projects on hold. The number of     
personnel has been adjusted to lower the cost level.                            

Establishing the fund and starting the cooperation with VTB Capital and Deutsche
Bank in early summer is a step in implementing SRV's growth strategy in Russia. 
The concluded arrangement opens a chance for SRV to be the project management   
contractor in numerous significant construction projects in major Russian       
cities. The fund has good possibility to utilise the market situation in a      
country which has good economic growth potential in the long term               

SRV's equity ratio is 40.4 per cent .The group's financing position has remained
solid. Good solvency and solid financing position give us possibility to utilise
SRV's innovative project development know-how when the economic recovery        
starts", says Eero Heliövaara, president and CEO of SRV.                        

--------------------------------------------------------------------------------
| Group key figures   | IFRS  | IFRS |       |        | IFRS  | IFRS  | IFRS   |
--------------------------------------------------------------------------------
| (EUR million)       | 1-6/  | 1-6/ | chang | change | 4-6/  | 4-6/  | 1-12/  |
|                     | 2009  | 2008 | e,    | ,%     | 2009  | 2008  | 2008   |
|                     |       |      | MEUR  |        |       |       |        |
--------------------------------------------------------------------------------
| Revenue             | 180.6 | 288. | -108. | -37.5  | 94.2  | 142.4 | 537.0  |
|                     |       | 8    | 2     |        |       |       |        |
--------------------------------------------------------------------------------
| Operating profit    | 5.4   | 18.1 | -12.7 | -70.2  | 3.5   | 9.2   | 32.9   |
--------------------------------------------------------------------------------
| Financial income    | -2.5  | -3.0 | 0.6   |        | -1.0  | -2.4  | -9.2   |
| and expenses, total |       |      |       |        |       |       |        |
--------------------------------------------------------------------------------
| Profit before taxes | 2.9   | 15.1 | -12.1 | -80.5  | 2.5   | 6.8   | 23.7   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog       | 458.4 | 521. | -62.7 | -12.0  |       |       | 455.3  |
|                     |       | 1    |       |        |       |       |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit, % | 3.0   | 6.3  |       |        | 3.7   | 6.4   | 6.1    |
--------------------------------------------------------------------------------
| Net profit, %       | 0.7   | 3.6  |       |        | 1.3   | 3.2   | 2.8    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity ratio, %     | 40.4  | 44.9 |       |        |       |       | 41.3   |
--------------------------------------------------------------------------------
| Net interest        | 185.8 | 122. |       |        |       |       | 169.4  |
| bearing debt        |       | 4    |       |        |       |       |        |
--------------------------------------------------------------------------------
| Gearing, %          | 115.6 | 74.8 |       |        |       |       | 101.7  |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Return on           | 3.8   | 16.9 |       |        |       |       | 12.9   |
| investment, % 1)    |       |      |       |        |       |       |        |
--------------------------------------------------------------------------------
| Return on equity, % | 1.5   | 13.0 |       |        |       |       | 9.4    |
| 1)                  |       |      |       |        |       |       |        |
--------------------------------------------------------------------------------
|                     |       |      |       |        |       |       |        |
--------------------------------------------------------------------------------
| Earnings per share, | 0.03  | 0.28 |       |        | 0.03  | 0.12  | 0.43   |
| EUR                 |       |      |       |        |       |       |        |
--------------------------------------------------------------------------------
| Equity per share,   | 4.45  | 4.40 |       |        |       |       | 4.54   |
| EUR                 |       |      |       |        |       |       |        |
--------------------------------------------------------------------------------
| Weighted average    | 36.2  | 36.7 |       | -1.4   |       |       | 36.5   |
| number of shares    |       |      |       |        |       |       |        |
| outstanding         |       |      |       |        |       |       |        |
--------------------------------------------------------------------------------
1) In calculating the key ratio only the profit for the period has been         
annualised                                                                      

Consolidated revenue was EUR 180.6 million (EUR 288.8 million in January-June   
2008). The share of revenue generated in Finland was 93 per cent (90%) whereas 7
per cent (10 %) came from Russia and the Baltic countries. Revenue in the       
Business Premises business area was EUR 100.9 million (EUR 197.0 million).      
Revenue in the Housing business area was EUR 66.3 million (EUR 63.1 million).   
Revenue in the International business area was EUR 13.3 million (EUR 28.8       
million).                                                                       

The Group's operating profit was EUR 5.4 million (EUR 18.1 million in           
January-June 2008). Operating profit margin was 3.0 per cent (6.3%). Operating  
profit in the Business Premises business area was EUR 10.6 million (EUR 18.1    
million). Operating profit in the Housing business area was EUR 1.9 million (EUR
1.3 million). Operating loss in the International business area was EUR 4.4     
million (a profit of EUR 1.1 million).                                          

The Group's profit before taxes was EUR 2.9 million (EUR 15.1 million in        
January-June 2008). Net profit for the review period was EUR 1.2 million (EUR   
10.4 million). Earnings per share were EUR 0.03 (EUR 0.28). Return on equity was
1.5 per cent (13.0%) and return on investment was 3.8 per cent (16.9%).         

The Group's revenue for the second quarter was EUR 94.2 million (EUR 142.4      
million in April-June 2008) and operating profit EUR 3.5 million (EUR 9.2       
million). Profit before taxes was EUR 2.5 million (EUR 6.8 million). Earnings   
per share were EUR 0.03 (EUR 0.12)                                              

The order backlog was EUR 458.4 million on 30 June 2009 (EUR 521.1 million on 30
June 2008). The share of order backlog which has been sold (construction        
contracts and sold developer contracting production) amounted to EUR 303 million
(EUR 358 million on 30 June 2008), and the unsold share amounted to EUR 155     
million (EUR 163 million).                                                      


Key figures for the Segments                                                    


--------------------------------------------------------------------------------
|                   | IFRS  | IFRS  |       |       | IFRS   | IFRS   | IFRS   |
--------------------------------------------------------------------------------
| Revenue           | 1-6/  | 1-6/  | chang | chang | 4-6/   | 4-6/   | 1-12/  |
| (EUR million)     | 2009  | 2008  | e,    | e,%   | 2009   | 2008   | 2008   |
|                   |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Business Premises | 100.9 | 197.0 | -96.0 | -48.7 | 46.1   | 92.2   | 349.1  |
--------------------------------------------------------------------------------
| Housing           | 66.3  | 63.1  | 3.2   | 5.1   | 40.5   | 37.1   | 127.9  |
--------------------------------------------------------------------------------
| International     | 13.3  | 28.8  | -15.5 | -53.7 | 7.6    | 13.1   | 60.1   |
--------------------------------------------------------------------------------
| Other Operations  | 4.3   | 5.7   | -1.5  | -25.3 | 2.1    | 2.8    | 11.5   |
--------------------------------------------------------------------------------
| Eliminations      | -4.3  | -5.8  | 1.4   |       | -2.1   | -2.9   | -11.6  |
--------------------------------------------------------------------------------
| Group, total      | 180.6 | 288.8 | -108. | -37.5 | 94.2   | 142.4  | 537.0  |
|                   |       |       | 2     |       |        |        |        |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
|                   | IFRS  | IFRS  |       |       | IFRS   | IFRS   | IFRS   |
--------------------------------------------------------------------------------
| Operating profit  | 1-6/  | 1-6/  | chang | chang | 4-6/   | 4-6/   | 1-12/  |
| (EUR million)     | 2009  | 2008  | e,    | e,%   | 2009   | 2008   | 2008   |
|                   |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Business Premises | 10.6  | 18.1  | -7.6  | -41.7 | 4.6    | 9.9    | 27.8   |
--------------------------------------------------------------------------------
| Housing           | 1.9   | 1.3   | 0.5   | 38.4  | 1.9    | 0.9    | 0.7    |
--------------------------------------------------------------------------------
| International     | -4.4  | 1.1   | -5.6  |       | -1.9   | -0.1   | 9.2    |
--------------------------------------------------------------------------------
| Other Operations  | -2.6  | -2.5  | -0.1  |       | -1.0   | -1.6   | -4.9   |
--------------------------------------------------------------------------------
| Eliminations      | 0.0   | 0.0   | 0.0   |       | 0.0    | 0.0    | 0.1    |
--------------------------------------------------------------------------------
| Group, total      | 5.4   | 18.1  | -12.7 | -70.2 | 3.5    | 9.2    | 32.9   |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Operating profit    | IFRS     | IFRS     | IFRS     | IFRS     | IFRS       |
--------------------------------------------------------------------------------
|  (%)                | 1-6/2009 | 1-6/2008 | 4-6/2009 | 4-6/2008 | 1-12/2008  |
--------------------------------------------------------------------------------
| Business Premises   | 10.5     | 9.2      | 10.0     | 10.8     | 8.0        |
--------------------------------------------------------------------------------
| Housing             | 2.8      | 2.1      | 4.6      | 2.5      | 0.6        |
--------------------------------------------------------------------------------
| International       | -33.2    | 3.9      | -25.6    | -0.9     | 15.4       |
--------------------------------------------------------------------------------
| Group, total        | 3.0      | 6.3      | 3.7      | 6.4      | 6.1        |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Order backlog       | IFRS     | IFRS     | change,  | change,  | IFRS       |
--------------------------------------------------------------------------------
| (EUR million)       | 30.6.09  | 30.6.08  | MEUR     | %        | 31.12.08   |
--------------------------------------------------------------------------------
| Business Premises   | 224.3    | 291.1    | -66.8    | -22.9    | 265.7      |
--------------------------------------------------------------------------------
| Housing             | 203.3    | 186.8    | 16.5     | 8.8      | 154.0      |
--------------------------------------------------------------------------------
| International       | 30.7     | 43.2     | -12.4    | -28.8    | 35.6       |
--------------------------------------------------------------------------------
| Group, total        | 458.4    | 521.1    | -62.7    | -12.0    | 455.3      |
--------------------------------------------------------------------------------
| - sold order        | 303      | 358      |          |          | 280        |
| backlog             |          |          |          |          |            |
--------------------------------------------------------------------------------
| - unsold order      | 155      | 163      |          |          | 176        |
| backlog             |          |          |          |          |            |
--------------------------------------------------------------------------------



Earnings trends of the Segments                                                 

--------------------------------------------------------------------------------
|                   | IFRS  | IFRS  |       |       | IFRS   | IFRS   | IFRS   |
--------------------------------------------------------------------------------
| Business Premises | 1-6/  | 1-6/  | chang | chang | 4-6/   | 4-6/   | 1-12/  |
|                   | 2009  | 2008  | e,    | e,%   | 2009   | 2008   | 2008   |
| (EUR million)     |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Revenue           | 100,9 | 197,0 | -96,0 | -48,7 | 46,1   | 92,2   | 349,1  |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit  | 10,6  | 18,1  | -7,6  | -41,7 | 4,6    | 9,9    | 27,8   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog     | 224,3 | 291,1 | -66,8 | -22,9 |        |        | 265,7  |
--------------------------------------------------------------------------------

The Business Premises business area comprises SRV Toimitilat Oy's retail,       
office, logistics and rock construction operations and property development.    

Revenue in Business Premises business area was EUR 100.9 million (EUR 197.0     
million). The decrease in revenue was due to  volume of around EUR 35 million   
relating to the extension project of Stockmann not being recorded in SRV's      
revenue, and also due to the real estate transaction of EUR 12million during the
period of comparison. Operating profit was EUR 10.6 million (EUR 18.1 million). 
Operating profit margin improved to 10.5 per cent (9.2%). Order backlog was EUR 
224.3 million (EUR 291.1 million).                                              

Second-quarter revenue amounted to EUR 46.1 million (EUR 92.2 million) and      
operating profit to EUR 4.6 million (EUR 9.9 million). Competition for new      
contracts remained tight.                                                       

Among others, the renovation of the office building Hakaniemenranta 6 for Senate
Properties, new production premises for Caternet in Kivikko and HTC office      
buildings in the Keilaniemi district in Espoo were completed during the review  
period. A retail centre of 20,000 cubic meters was completed in the northern    
wing of Porvoo's King's Gate. In the city of Vantaa, an office and warehouse    
building for SGN and a logistics centre for Transphere were completed. In       
Kerava, the new timber crushing plant for Lassila & Tikanoja was completed. The 
main contract for interior construction of the Helsinki City Service Tunnel,    
with total volume of 120,000 cubic metres, was also brought to completion.      

The underground car park built by SRV was completed in the Kamppi district of   
Helsinki, and was opened for public in May. The operator of the P-City car park 
is Europark Finland Oy. In January, SRV and Mutual Pension Insurance Company    
Varma signed a contract concerning the Vierumäki Congress & Resort Hotel        
project. SRV acts as main contractor with overall responsibility being in charge
of construction and planning.  In addition to 191 hotel rooms, the four-storey  
hotel building includes meeting facilities, six restaurants, fitness room,      
bowling alley with 10 lanes, and a wellness-area. The hotel will be opened in   
spring 2010.                                                                    

In February, property and contract agreements concerning the Anttila logistics  
centre to be built in Kerca were signed.  Kesko pension fund bought a plot of   
40,000 square metres from the city of Kerava, where a high-bay warehouse of     
approximately 19.000 gross square metres for Anttila will be built. The volume  
of the building is 300,000 cubic metres. Preconstruction on the plot is         
completed and the construction works will be completed in August 2010.          


In January, SRV and the city of Kerava agreed on a contract package concerning  
the development of the Kerca logistics area and concluded a contract for a real 
estate transaction of four hectares of land and a preliminary contract for an   
area of 22 hectares. On the first plot, SRV plans to build a GCC (Grand Cargo   
Center) logistics building with about 20,000 square metres of floor space. Kerca
occupies an area of 160 hectares on the Kerava-Vantaa border.                   

SRV signed a contract with Varma Mutual Pension Insurance Company in June to    
build a production and logistics center for Primula bakery in Järvenpää. The    
center includes production, logistics, sales and administration premises as well
as a luncheonette, cafeteria and bakery shop. The total floor area of the       
project is 13,000 square meters. Production in the premises will start in early 
fall 2010.                                                                      

During the review period, contracts were also concluded to build a service      
tunnel for the University of Helsinki in the heart of Helsinki and an equestrian
center for the Primus riding center in Espoo. The preliminary works for the     
extension and renovation of Malmi Hospital in Helsinki were started, as was the 
construction and renovation of the Mercuria Business College in Vantaa.         
                                                                                
The office building in Hakaniemenranta was selected as the construction project 
of the year 2008 of Senate Properties. With this reward Senate Properties wants 
to encourage and highlight skilful designers and builders. The recognition is   
based on general quality factors and social responsibility as well as solutions 
that support the clients and innovations.                                       


--------------------------------------------------------------------------------
|                   | IFRS  | IFRS  |       |       | IFRS   | IFRS   | IFRS   |
--------------------------------------------------------------------------------
| Housing           | 1-6/  | 1-6/  | chang | chang | 4-6/   | 4-6/   | 1-12/  |
| (EUR million)     | 2009  | 2008  | e,    | e,%   | 2009   | 2008   | 2008   |
|                   |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Revenue           | 66.3  | 63.1  | 3.2   | 5.1   | 40.5   | 37.1   | 127.9  |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit  | 1.9   | 1.3   | 0.5   | 38.4  | 1.9    | 0.9    | 0.7    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog     | 203.3 | 186.8 | 16.5  | 8.8   |        |        | 154.0  |
--------------------------------------------------------------------------------

The Housing business area comprises housing construction in the Helsinki        
Metropolitan Area and the neighbouring municipalities as well as the operations 
of the regional subsidiaries. Besides housing, the regional business operations 
include commercial, business premises and logistics construction projects.      

Revenue in the Housing business area for the review period amounted to EUR 66.3 
million (EUR 63.1 million) and operating profit was EUR 1.9 million (EUR 1.3    
million). Order backlog was EUR 203.3 million (EUR 186.8). The increase in      
operating profit was achieved by focusing the housing sales on completed        
projects and by the executed savings measures.                                  

Second-quarter revenue amounted to EUR 40.5 million (EUR 37.1 million) and      
operating profit to EUR 1.9 million (EUR 0.9 million). The increase in operating
profit was attributable to the revived housing sales during the second quarter  
and focusing the housing sales on completed projects as well as to the executed 
savings measures.                                                               

Resources were allocated to contracting and, during the review period, contracts
worth EUR 109.1 million were concluded with external clients. EUR 63.4 million  
of the concluded contracts were negotiation contracts, where SRV has acted also 
as developer. SRV builds a S-Group's Kodin Terra hardware and home decor        
department store and ABC service station for Pirkanmaan Osuuskauppa in Nokia.   
The Pakkalanrinne day care centre will be built for lease to the City of Vantaa,
the investor in the project is Ilmarinen Mutual Pension Insurance Company. A    
contract was signed with Scan-Auto to build a Scania centre in Jyväskylä which  
services large vehicles. Provisional premises for the Cygnaeus school centre in 
Jyväskylä and Valintatalo market in Nokia are also being built.                 

During the review period, 206 housing units were sold to investors under        
negotiation contracts. A construction contract was signed with Sato to build two
housing blocks with a total of 74 units on a property previously owned by SRV in
the Vallikallio district in Espoo. In the Rekola district in Vantaa, 50 units   
are being built for Asuntosäätiö. 40 housing units are being built for Tampereen
YH in Ylöjärvi and 42 units in the Henneri area in Tampere on a property        
previously owned by SRV.                                                        

Contracts worth EUR 45.7 million were won through bidding competition. Most     
important of these were   a high-rise project of 104 apartments for HOAS        
(Foundation for Student Housing in the Helsinki Region) in the Viikki district  
of Helsinki, two apartment houses for the city of Joensuu, a well-being centre  
for the municipality of Tarvasjoki, Logicity terminal for Varsinis-Suomen       
Kaukokiito  and piping renovation of two housing companies in the Haaga district
of Helsinki.                                                                    

During the review period a terraced house with four apartments reached sales    
condition in Oulu. The most significant project under construction is Helsingin 
Oscar (65 units).                                                               

Housing sales revived clearly compared with the first quarter, but it still fell
behind from last year's level. During the review period, 78 (96) units were     
sold. The demand focused still on completed production. At the end of the period
118 (247) units were under construction, of these 100 (227) units were unsold.  
Number of completed, unsold units was 185 (128), of which 37 were rented at the 
end of the period.  During the period 151 (229) developer contracting units were
completed.                                                                      

Pre-marketing has started in some projects on prime locations and whose planning
has been taken further. Their start-ups will be considered depending on the     
results of the pre-marketing. Due to the market situation, strict criteria have 
been set for start-ups of new developer contracting housing projects.           
--------------------------------------------------------------------------------
| Developer            | 1-6/   | 1-6/   | change | 4-6/   | 4-6/    | 1-12/   |
| contracting housing  | 2009   | 2008   | ,      | 2009   | 2008    | 2008    |
| production in        |        |        | units  |        |         |         |
| Finland              |        |        |        |        |         |         |
--------------------------------------------------------------------------------
| Start-ups            | 4      | 61     | -57    | 0      | 53      | 110     |
--------------------------------------------------------------------------------
| Sold                 | 78     | 96     | -18    | 51     | 63      | 141     |
--------------------------------------------------------------------------------
| Completed            | 151    | 229    | -78    | 93     | 104     | 260     |
--------------------------------------------------------------------------------
| Completed and unsold | 185    | 128    | 57     |        |         | 133     |
| 1)                   |        |        |        |        |         |         |
--------------------------------------------------------------------------------
| Under construction   | 118    | 247    | -129   |        |         | 265     |
| 1)                   |        |        |        |        |         |         |
--------------------------------------------------------------------------------
| - of which unsold    | 100    | 227    | -127   |        |         | 226     |
--------------------------------------------------------------------------------
1) at the end of the period                                                     

Moreover, 206 (76) housing units were sold under negotiation contracts.         


--------------------------------------------------------------------------------
|                   | IFRS  | IFRS  |       |       | IFRS   | IFRS   | IFRS   |
--------------------------------------------------------------------------------
| International     | 1-6/  | 1-6/  | chang | chang | 4-6/   | 4-6/   | 1-12/  |
| Operations        | 2009  | 2008  | e,    | e,%   | 2009   | 2008   | 2008   |
| (EUR million)     |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Revenue           | 13.3  | 28.8  | -15.5 | -53.7 | 7.6    | 13.1   | 60.1   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit  | -4.4  | 1.1   | -5.6  |       | -1.9   | -0.1   | 9.2    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog     | 30.7  | 43.2  | -12.4 | -28.8 |        |        | 35.6   |
--------------------------------------------------------------------------------

International Operations comprises the business activities of the SRV           
International subgroup in Russia and the Baltic countries.                      

Revenue in the International business area was EUR 13.3 million (EUR 28.8       
million). Decline in revenue was affected by the small number of projects under 
construction.  Operating loss was EUR 4.4 million (profit of EUR 1.1 million).  
In addition to the small number of projects under construction, the development 
costs of developer contracting projects and the fixed costs of business         
operations affected the decline in operating profit. Order backlog was EUR 30.7 
million (EUR 43.2 million).                                                     

Second-quarter revenue amounted to EUR 7.6 million (EUR 13.1 million) and       
operating loss EUR 1.9 million (a loss of EUR 0.1 million). Decline in revenue  
was affected by the small number of projects under construction. In addition to 
this, decline in operating profit was affected by the development costs of      
developer contracting projects and the fixed costs of business operations.      

Russia                                                                          

The Etmia II office and parking facility project in the heart of Moscow is      
nearly completed and the registration of the ownership was concluded during the 
review period.  Negotiations with potential tenants are on the way, and the     
interior works started in early summer.  SRV's role in the project is to act as 
the project management contractor and as co-owner with a 50 per cent stake.     
SRV's objective is to sell the project to investors in 2009.                    

In Moscow area, design, preparations for the construction and the search for    
tenants continued during the review period in the Mytischi shopping centre      
project which has been developed by SRV.  The majority owner of the project is  
the Finnish real estate investment company Vicus with a 75 per cent stake.  Due 
to the global financing situation, negotiations concerning the financing of the 
project have not been successful. The site organisation has been temporarily    
moved to other projects to wait for the final investment decision.  The final   
investment decisions will be made after the financing of the project and        
negotiations with the tenants have been concluded.  SRV owns 25 per cent of the 
shopping centre project and has invested EUR 6.9 million in it.                 

SRV continued the development of the roughly 8.5 hectare land area in St        
Petersburg. The plans include the construction of office and retail space, as   
well as hotel, restaurant and entertainment premises. Moreover, facilities will 
be built for the IBI university. The aim is to conclude the development of the  
overall concept in 2009, which would enable starting up the construction of the 
first phase during 2010.  SRV had invested about EUR 50 million in land and     
properties as of 30 June 2009.  Further investment in the project by SRV is     
estimated at EUR 10 million. At the moment, SRV owns 87.5% of the project, but  
the ownership will decline to 77.5 per cent when all land-owning arrangements   
have been completed according to the cooperation contract.                      

Phase II of the renovation works of the Pulkovskaya and Pribaltiskaya hotels    
operated by the Rezidor Group continued in St Petersburg.                       

The development of the Eurograd logistics area in St Petersburg continued.  SRV 
has a 40 per cent ownership of the Russian company who possesses a plot of 24.9 
hectares located north of St Petersburg, in the close vicinity of the Ring Road.
Over 100,000 square metres of logistics facilities are planned for the site, in 
several stages during the next few years. The zoning of the area for logistics  
is completed. Site planning has begun and   negotiations with potential tenants 
for phase I are underway.                                                       

The handing over process of the apartments to the tenants in the Papula         
residential area in the city of Vyborg commenced during the review period.  30  
of the first-phase units had been sold to a Russian company, who was not able to
arrange financing for the transaction. During the review period, the            
cancellation process of the transaction was initiated. The sales situation of   
the Vyborg apartments has remained weak, and no new deals have been made. At the
end of the period, 31 (31) units were unsold.                                   

During the review period, SRV concluded the establishment of a real estate fund 
together with VTB Capital and Deutsche Bank. The fund will invest mainly in     
office, retail and hotel projects as well as in construction of top end         
residential projects in Moscow and in St Petersburg. The fund can also invest in
operating completed properties. SRV acts in the fund both as investor and       
project management contractor.                                                  

SRV's share of the investment commitments in the first phase is EUR 20 million. 
VTB Capital and Deutsche Bank are also investors in the fund. Other investors   
are pension insurance companies Ilmarinen and Etera.  The final target for the  
investment commitments of the fund is at least EUR 300 million, which can equal 
as much as EUR 1 billion in investment volume. VTB Capital and Deutsche Bank    
will act, in a partnership, as sponsor and general partner of the fund. Their   
task will be, among others, to identify investments and to arrange debt         
financing for the projects. SRV acts as project management contractor in the    
fund. Through the fund, the company expects to receive at least EUR 200 million 
worth of construction contracts.                                                

Baltic countries                                                                

Volume in the Baltic business operation was low. No new residential projects are
scheduled to be started in the present market situation. In Estonia, 4 (6)      
residential units were sold during the period and, all in all, 37 (41) units    
were up for sale in already-completed projects at the end of the period. The    
number of staff in Estonia was adjusted to the market situation.                

On 9 April 2009, SRV and the International School of Latvia signed a contract   
agreement concerning the construction of international school in Riga.          


--------------------------------------------------------------------------------
|                   | IFRS  | IFRS  |       |       | IFRS   | IFRS   | IFRS   |
--------------------------------------------------------------------------------
| Other Operations  | 1-6/  | 1-6/  | chang | chang | 4-6/   | 4-6/   | 1-12/  |
| (EUR million)     | 2009  | 2008  | e,    | e,%   | 2009   | 2008   | 2008   |
|                   |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Revenue           | 4.3   | 5.7   | -1.5  | -25.3 | 2.1    | 2.8    | 11.5   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit  | -2.6  | -2.5  | -0.1  |       | -1.0   | -1.6   | -4.9   |
--------------------------------------------------------------------------------

Other Operations comprise mainly the SRV Group Plc and SRV Kalusto Oy           
businesses.                                                                     

The revenue of Other Operations during the review period was EUR 4.3 million    
(EUR 5.7 million) and operating loss EUR 2.6 million (loss of EUR 2.5 million). 
Decrease in revenue and operating profit was caused by lower operation volume.  
Second quarter revenue amounted to EUR 2.1 million (EUR 2.8 million) and        
operating loss to EUR 1.0 million (loss of EUR 1.6 million). Decrease in revenue
was affected by lower operating volume. Smaller operating loss resulted from    
executed cost savings measures.                                                 


Financing and financial position                                                

The net operational cash flow improved and amounted to a loss of EUR 9.0 million
(a loss of EUR 53.0 million in January - June 2008). The improvement of cash    
flow resulted from the clear decrease in growth of equity and release of other  
net current assets during the review period. The Group's equity amounted to EUR 
160.7 million (EUR 163.7 million on 30 June 2008). The group's inventories were 
EUR 300.9 million (EUR 249.9 million), the share of land areas and plot-owning  
companies being EUR 149.2 million (EUR 118.7 million). The Group's invested     
capital amounted to EUR 353.1 million (EUR 296.2 million).                      

The Group's financing reserves were EUR 90.5 million  at the end of the review  
period, of which the Group's cash assets at the end of the review period        
amounted to EUR 6.7 million and the committed undrawn financing reserves        
amounted to EUR 84.8 million .The Group's net interest-bearing liabilities were 
EUR 185.8 million on 30 June 2009 (EUR 122.4 million). Net financing expenses   
totalled EUR 2.5 million (EUR 3.0 million).                                     

Investments in SRV's developer contracting housing projects in Finland,         
including completed, unsold projects, total around EUR 82 million. SRV estimates
that completion of these projects demands another EUR 8 million, which is       
financed mainly using the undrawn housing corporate loans worth EUR 7 million.  
Investments in uncompleted developer contracting business premise projects in   
Finland amount to EUR 33 million. To complete the projects another EUR 4 million
is estimated to be invested. Investments in international developer contracting 
projects amount to EUR 41 million, of which EUR 2.6 million is in unsold        
residential projects in Estonia, EUR 3.9 million in unsold housing project in   
Vyborg and EUR 34.1 million in Etmia office project and Mytischi shopping centre
project.                                                                        

The equity ratio was 40.4 per cent (44.9%).  The change in the equity ratio and 
net liabilities was impacted by increase in inventories, in particular. The     
return on investment was 3.8 per cent (16.9%) and the return on equity 1.5 per  
cent (13.0%).                                                                   


Investments                                                                     

The Group's investments totalled EUR 2.3 million (EUR 21.6 million) and they    
were mainly related   to acquisition of shares of subsidiaries.  In the         
reference period, EUR 18.2 million of the investments were related to the IBI   
project.                                                                        

Unbuilt land areas, land acquisition commitments and land development agreements

--------------------------------------------------------------------------------
| Land reserve      | Business    | Housing       | International | Total      |
| 30.6.2009         | Operations  |               | Operations    |            |
--------------------------------------------------------------------------------
| Unbuilt land areas and land acquisition commitments                          |
--------------------------------------------------------------------------------
| Building rights*, | 238 000     | 279 000       | 859 000       | 1 376 000  |
| m2                |             |               |               |            |
--------------------------------------------------------------------------------
| Capital invested  | 45          | 70            | 106           | 222        |
| incl.             |             |               |               |            |
| commitments, EUR  |             |               |               |            |
| million           |             |               |               |            |
--------------------------------------------------------------------------------
| Land development  |             |               |               |            |
| agreements        |             |               |               |            |
--------------------------------------------------------------------------------
| Building rights*, | 481 000     | 225 000       | 100 000       | 806 000    |
| m2                |             |               |               |            |
--------------------------------------------------------------------------------
| * Building rights also include the estimated building rights/construction    |
| volume of unzoned land reserves and land areas covered by agreements in      |
| projects that are wholly or partly owned by SRV                              |
--------------------------------------------------------------------------------

In March, the City of Oulu granted SRV the planning reservation for an          
approximately 5 hectare land area in the immediate vicinity of Oulu harbour.    
SRV aims to develop logistics facilities and business premises in the area      
together with the Port of Oulu and companies operating in the area.             

Group structure                                                                 

SRV is Finland's leading project management contractor. The Group builds and    
develops commercial and business premises, residential units as well as         
infrastructure and logistics projects. Apart from Finland, the company operates 
in Russia and the Baltic countries. SRV Group Plc is the Group's parent company,
and it is responsible for the Group's management, treasury, finance and         
administrative functions. The Property Development and Building Systems units   
support and serve all the Group's business operations.                          

SRV's business areas are Business Premises, Housing and International as well as
Other Operations. The Business Premises business area comprises the operations  
of SRV Toimitilat Oy. Housing comprises the operations of SRV Asunnot Oy and the
regional subsidiaries. The SRV International subgroup carries on international  
operations. Other Operations consist primarily of the SRV Group Plc and SRV     
Kalusto Oy businesses.                                                          

Changes in Group structure                                                      

In June 2009, SRV acquired 100 per cent ownership of Pirkanmaan Projektitoimi   
Oy. To intensify the business structure and operation, SRV started the process  
to merge the company into SRV Asunnot Oy in July 2009. Pirkanmaan Projektitoimi 
continues its operation under the business name SRV Pirkanmaa.                  

Rationalising measures                                                          

On 19 January, SRV started negotiations to adjust the number of employees to the
market situation.  The codetermination negotiations concerning the Group's      
Finnish companies were concluded on 26 March, and as a result SRV will lay-off  
60 persons during 2009. In addition to lay-offs, the company agreed with the    
Finnish employees that the additional holiday pays will be traded for time off. 
Similar process has been started in the Group's companies abroad. Savings of EUR
6 million in 2009 are sought by these and other savings measures.               

Personnel                                                                       

SRV had an average payroll of 796 (836) employees, of whom 562 (596) were       
white-collar. The parent company had an average staff of 58 (64) white-collar   
employees. At the close of the review period, the Group had 784 (961) employees,
of whom 54 (68) were employed by the parent company. An average of 17 per cent  
(13.4) of the employees work at subsidiaries and representative offices abroad. 
At the end of the review period, SRV had a total of 44 (127) trainees working in
the Group's operations in Finland (in summer jobs and in work training as well  
as students working on their thesis or diploma).                                


--------------------------------------------------------------------------------
| Personnel by business area   | 30.6.2009    | 30.6.2008   | Share of Group   |
|                              |              |             | personnel,       |
|                              |              |             | 30.6.2009, %     |
--------------------------------------------------------------------------------
| Business Premises            | 291          | 351         | 37.1             |
--------------------------------------------------------------------------------
| Housing                      | 240          | 325         | 30.6             |
--------------------------------------------------------------------------------
| International                | 169          | 187         | 21.6             |
--------------------------------------------------------------------------------
| Other Operations             | 84           | 98          | 10.7             |
--------------------------------------------------------------------------------
| Group, total                 | 784          | 961         | 100.0            |
--------------------------------------------------------------------------------

The share-based incentive plan for 2009 includes about 70 employees and the     
reward is based mainly on consolidated and partly on business area performance. 
The rewards to be paid for earning period 2009 correspond to the approximate    
value of a total maximum of 380 000 SRV Group Plc shares and a sum of money     
corresponding to this amount of shares, at the most, for taxes.                 

Outlook for construction                                                        

After the rapid recession, signs of stabilisation can be seen in global economy.
However, the possible recovery is slow and the situation in real-estate and     
construction market continues to be challenging. The Finnish economy is         
estimated to shrink by 4.5 to 6 per cent in 2009.                               

The total number of building permits has further decreased in all building      
types, except for public construction. The falling construction input prices    
seem to be levelling off. The availability of subcontracting and materials is   
good.                                                                           

In the first half of the year, the development in the housing market has been   
more favourable than in the latter part of last year, and the consumer          
confidence has somewhat improved. The number of residential start-ups has been  
small. In the short term, the weakening employment trend hits the residential   
market as well.                                                                 
                                                                                
There are still numerous commercial and business premise projects under         
construction but start-ups have declined significantly. Vacancy rates in office 
premises will increase due to the completion of new premises during the ongoing 
year.  Construction of logistics facilities is still brisk near the main        
thoroughfares, in particular.                                                   

Growth in renovation continues during the ongoing year, and growth of building  
stock, its ageing and the need to improve technical quality maintain growth also
in the long term. Government support measures will have a positive impact on    
both renovation and civil engineering.                                          

Deterioration of the Baltic economy continues. Gross production in Estonia and  
Latvia will reduce significantly this year.  Property market has clearly cooled 
down and construction has slowed down.  In the short term, the economic         
situation in the Baltic countries continues to be difficult.                    

Russian economy has diminished rapidly in the first half of the year.  The poor 
development of investments has reflected strongly on construction, reducing it  
significantly. It is still difficult to get credit. During the last few months, 
inflation has remained on quite high level, and it is predicted to go below 10  
per cent in 2010, at the earliest.                                              


Risks, risk management and corporate governance                                 

General economic trends and changes in customers' operating environments have an
immediate effect on the construction and property markets. A change in the      
general interest level has a direct impact on both SRV's cash flow from         
operating activities and financing costs. The general economic situation has    
deteriorated considerably and reduces the volume of property investments.       
Interest rates have fallen sharply, but availability of credit from the banks   
has weakened and loan margins have risen clearly. The international financial   
crisis makes it more difficult also for SRV's customers to obtain financing and 
hampers the functioning of property markets in all SRV's operating regions and  
in Russia in particular. Property values face pressures and the number of       
property transactions and start-ups of new projects is decreased due to         
difficulties in getting financing.  The financial crisis adds SRV's risk to be  
forced to tie up capital in projects longer than intended.                      

SRV's revenue is generated by construction projects, and the company's result   
depends on the profitability of individual projects as well as their progress.  
The recognition date of the developer contracting projects depends on the       
percentage of sold premises in projects. Among other things, availability of    
financing for the buyer and occupancy rate have an effect on the selling of the 
project. When sales are delayed, the recognition of revenue and operating profit
is delayed correspondingly. Postponed start-ups of developer contracting        
projects increase the amount of development expense, which are recorded as      
costs.   Housing sales have slowed down sharply in Finland, and have come to a  
practical standstill in Estonia. The slowdown in housing sales will increase    
sales and marketing costs and interest expenses in developer contracting housing
production.                                                                     

Construction is subject to significant cost risks relating to subcontracting and
deliveries, and their control underlines the need for long-term planning.  In   
poor economic situation, the financing risks relating to subcontractors will    
also increase (including labour market disturbances, bankruptcies and grey      
economy).  SRV's contracting model requires skilled and competent personnel.    
Construction projects face also other case-specific risks relating to design and
construction of projects (including new and difficult planning solutions,       
thermal insulation and waterproofing, occupational safety). Warranty and        
liability obligations related to construction can span up to ten years.         

Besides land acquisition risks, property projects face, among other things,     
risks relating to outcome of zoning, soil, financing, commercialisation of      
projects, partners, geographical location and type of project. In accordance    
with its strategy, SRV focuses on developer contracting projects and has        
increased its land acquisition in Finland and in Russia, in particular. The     
crisis in the international financial market has substantially weakened the     
availability of financing in property projects for property development and     
investments.  It has also put project start-ups on hold.                        

The financial risks connected with SRV's operations are interest rate, currency,
liquidity and contractual party risks, which are discussed in more detail in the
Notes to the 2008 Financial Statements. Currency risks are divided into         
transaction risks and translation risks. Transaction risks are related to       
currency-denominated business and financing cash flows. Translation risks       
encompass investments made in foreign subsidiaries, the accounting effects of   
which are recorded in the translation differences of equity in the consolidated 
figures.                                                                        

Liquidity risks may have an effect on the Group's earnings and cash flow if the 
Group is unable to ensure sufficient financing for its operations. SRV maintains
adequate liquidity by means of efficient management of cash flows and solutions 
linked to it, such as binding lines of credit that are valid until further      
notice. The company has a long-term liquidity arrangement (EUR 100 million),    
which shall fall due in 2012. The company's financing agreements contain        
customary terms and conditions. The financial terms and conditions of the       
agreements concern the equity ratio.                                            

The Group's risk management is carried out in line with the Group's operations  
system and control is exercised in accordance with the Group strategy approved  
by the Board of Directors of the Group's parent company. SRV also makes every   
effort to cover operational risks by means of insurance and contractual terms.  
A more detailed account of SRV's risks, risk management and corporate governance
policies has been disclosed in the 2008 Annual Report and Financial Statements. 

SRV estimates that no other essential changes have occurred in company's risks. 

Corporate governance and resolutions of general meetings                        

The Annual General Meeting was held on 25 March 2009. The AGM adopted the       
financial statements for 2008 and granted release from liability to the members 
of the Board of Directors and the president and CEO. A dividend of EUR 0.12 per 
share was declared. The date of payment of dividend was set at 3 April 2009. Mr 
Ilpo Kokkila was elected chairman of the Board of Directors and Mr Jukka        
Hienonen, Mr Lasse Kurkilahti, Mr Hannu Leinonen and Mr Matti Mustaniemi were   
elected to seats on the Board. The firm of public accountants Ernst & Young Oy  
was elected as the company's auditor.  Mikko Rytilahti, authorised public       
accountant, will act as the principal auditor.                                  

The Annual General Meeting authorised the Board of Directors to resolve on the  
acquisition of the company's own shares (treasury shares). The authorisation is 
in force for 18 months from the decision of the Meeting. A maximum of 3,676,846 
own shares, or a lower amount that, in addition to the shares already owned by  
the company and its subsidiaries, is less than 10 per cent of all shares, may be
acquired on the basis of the authorization. The Annual General Meeting          
authorised the Board of Directors to resolve on the transfer of treasury shares 
against payment or without consideration. The authorisation is in force for two 
years from the decision of the Meeting.                                         

In its organisational meeting on 25 March 2009 the Board of Directors elected   
Lasse Kurkilahti vice chairman of the Board, Matti Mustaniemi chairman of the   
Audit Committee, Lasse Kurkilahti member of the Audit Committee , Jukka Hienonen
and  Hannu Leinonen members of the Nomination and Remuneration Committee and    
Ilpo Kokkila chairman of the Nomination and Remuneration Committee.             

Shares and shareholders                                                         

SRV Group Plc's share capital is EUR 3, 062,520. The share has no nominal value 
and the number of shares outstanding is 36,768,468. The company has one class of
shares. SRV had a total of 5,980 shareholders at 30 June 2009. SRV did not      
receive any flagging notifications during the review period.                    

The closing rate in Nasdaq OMX Helsinki at the end of the review period was EUR 
4.18 (EUR 3.47 on 31 December 2008). The highest share price in the review      
period was EUR 4.79 and the lowest was EUR 2.75.  The change in the all-share   
index of the Helsinki Stock Exchange (OMX Helsinki) during the same period was  
3.8% positive and the OMX Industrial and Services index 30.4 per cent positive. 

At the end of the review period, the company had a market capitalisation of EUR 
150.4 million, excluding the Group's own shares.  6.0 million shares were traded
during the review period  and the trade volume was EUR 20.2 million.            

On 13 May 2009 the Board of Directors of SRV Group Plc decided to use the       
authorisation to acquire the company's own shares. The share acquisition started
on 25 May 2009. At the end of the review period, SRV Group Plc's subsidiary SRV 
Kalusto Oy had 215,562 of SRV Group Plc's shares. The shares were acquired in   
accordance with the conditions of the merger plan of SRV Group Plc and SRV      
Henkilöstö Oy. On 30 June 2009, SRV Group Plc and SRV Kalusto Oy had a total of 
787,000 of SRV Group Plc's shares, representing 2.1 per cent of the total number
of the company's shares and combined number of votes. On 11 August 2009, the    
Group had a total of 864,000 shares (2.3 per cent of the total number of the    
company's shares and combined number of votes).                                 

Financial targets                                                               

The Board of Directors has set the aim of SRV in the medium term to achieve     
annual average growth of approximately 15 per cent in Group revenue and annual  
average growth of 30 per cent in revenue in International Operations. SRV aims  
to increase the level of operating profit and, in the medium to long term, to   
achieve an operating margin of 8 per cent. Also, the company aims to maintain an
equity ratio of 30 per cent.                                                    

The international economic and financing crisis has hindered the growth outlook 
for business operations.   The realisation of the sales of developer contracting
projects has an essential effect on the development of profitability. The set   
financial targets cannot be met during in the present economic situation. The   
company endeavours to maintain the profitability by rationalising operations and
cutting costs.                                                                  

Events after the end of the reporting period                                    

SRV Terbelat Sia, a subsidiary of SRV Group Plc has been engaged as claimant in 
international arbitration proceedings in Berlin concerning a power plant        
construction contract in Latvia with a Latvian customer SIA Juglas Jauda. SRV   
suspended the work because of the customer's breach of the contract and         
terminated the contract in autumn 2007.                                         

The arbitration tribunal has confirmed SRV's right to terminate the contract,   
and ordered the defendant to pay SRV approximately EUR1.4 million for costs and 
interest. The enforcement of the arbitration tribunal's decision has to be      
applied in Latvian local court, where the customer has also started proceedings 
based on the same contract against SRV.                                         

Outlook for 2009 reiterated                                                     

The international financial crisis has complicated the financing of property    
investments and weakened the economic outlook. Start-up decisions and housing   
sales, in particular, face uncertainties.                                       

The trend in revenue, operating profit and earnings in 2009 will be affected by 
success of the sales of developer contracting sites and the volume of new work  
orders. Costs will be cut to improve profitability.                             

Revenue and operating profit in 2009 are estimated to be below the previous     
year's figures, but profit before taxes is estimated to be clearly positive.    

Espoo 12 August, 2009                                                           

Board of Directors                                                              

All forward-looking statements in this review are based on the management's     
current expectations and beliefs about future events, and actual results may    
differ materially from the expectations and beliefs such statements contain.    

For further information, please contact:                                        
Eero Heliövaara, president and CEO, tel. +358 (0)20 1455 202                    
Hannu Linnoinen, CFO, +358 (201) 455 990, +358 (50) 523 5850                    
Jussi Ollila, SVP, Communications, +358 (201) 455 275, +358 (50) 372 5229       


Distribution: Nasdaq OMX Helsinki, principal media, www.srv.fi                  


Key figures:                                                                    

--------------------------------------------------------------------------------
|                        |         | IFRS  | IFRS   | IFRS   | IFRS   | IFRS   |
--------------------------------------------------------------------------------
|                        |         | 1-6/  | 1-6/   | 4-6/   | 4-6/   | 1-12/  |
|                        |         | 2009  | 2008   | 2009   | 2008   | 2008   |
--------------------------------------------------------------------------------
| Revenue	               | EUR     | 180.6 | 288.8  | 94.2   | 142.4  | 537.0  |
|                        | million |       |        |        |        |        |
--------------------------------------------------------------------------------
| Operating profit       | EUR     | 5.4   | 18.1   | 3.5    | 9.2    | 32.9   |
|                        | million |       |        |        |        |        |
--------------------------------------------------------------------------------
| Operating profit, % of | %       | 3.0   | 6.3    | 3.7    | 6.4    | 6.1    |
| revenue                |         |       |        |        |        |        |
--------------------------------------------------------------------------------
| Profit before taxes    | EUR     | 2.9   | 15.1   | 2.5    | 6.8    | 23.7   |
|                        | million |       |        |        |        |        |
--------------------------------------------------------------------------------
| Profit before taxes, % | %       | 1.6   | 5.2    | 2.7    | 4.8    | 4.4    |
| of revenue             |         |       |        |        |        |        |
--------------------------------------------------------------------------------
| Net profit             | EUR     | 1.2   | 10.1   | 1.0    | 4.4    | 15.7   |
| attributable to equity | million |       |        |        |        |        |
| holders of the parent  |         |       |        |        |        |        |
| company                |         |       |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Return on equity 1)    | %       | 1.5   | 13.0   |        |        | 9.4    |
--------------------------------------------------------------------------------
| Return on investment   | %       | 3.8   | 16.9   |        |        | 12.9   |
| 1)                     |         |       |        |        |        |        |
--------------------------------------------------------------------------------
| Invested capital       | EUR     | 353.2 | 296.2  |        |        | 339.4  |
|                        | million |       |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity ratio           | %       | 40.4  | 44.9   |        |        | 41.3   |
--------------------------------------------------------------------------------
| Net interest-bearing   | EUR     | 185.8 | 122.4  |        |        | 169.4  |
| debt                   | million |       |        |        |        |        |
--------------------------------------------------------------------------------
| Gearing ratio          | %       | 115.6 | 74.8   |        |        | 101.7  |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog          | EUR     | 458.4 | 521.1  |        |        | 455.3  |
|                        | million |       |        |        |        |        |
--------------------------------------------------------------------------------
| Personnel on average   |         | 796   | 836    |        |        | 871    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Property, plant and    | EUR     | 2.3   | 21.6   | 2.2    | 20.9   | 16.8   |
| equipment investments  | million |       |        |        |        |        |
--------------------------------------------------------------------------------
| Property, plant and    | %       | 1.3   | 7.5    | 2.3    | 14.7   | 3.1    |
| equipment investments, |         |       |        |        |        |        |
| % of revenue           |         |       |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per share,    | EUR     | 0.03  | 0.28   | 0.03   | 0.12   | 0.43   |
| share issue adjusted   |         |       |        |        |        |        |
--------------------------------------------------------------------------------
| Equity per share,      | EUR     | 4.45  | 4.40   | -      | -      | 4.54   |
| share issue adjusted   |         |       |        |        |        |        |
--------------------------------------------------------------------------------
| Dividend per share,    | EUR     | -     | -      | -      | -      | 0.12   |
| share issue adjusted   |         |       |        |        |        |        |
--------------------------------------------------------------------------------
| Dividend payout ratio  | %       | -     | -      | -      | -      | 27.9   |
--------------------------------------------------------------------------------
| Dividend yield         | %       | -     | -      | -      | -      | 3.5    |
--------------------------------------------------------------------------------
| Price per earnings     |         | -     | -      | -      | -      | 8.1    |
| ratio                  |         |       |        |        |        |        |
--------------------------------------------------------------------------------
| Share price            |         |       |        |        |        |        |
| development            |         |       |        |        |        |        |
--------------------------------------------------------------------------------
| Share price at the end | EUR     | 4.18  | 5.28   | -      | -      | 3.47   |
| of the period          |         |       |        |        |        |        |
--------------------------------------------------------------------------------
|    Average share price | EUR     | 3.52  | 5.61   | -      | -      | 5.05   |
--------------------------------------------------------------------------------
|    Lowest share price  | EUR     | 2.75  | 4.67   | -      | -      | 2.82   |
--------------------------------------------------------------------------------
|    Highest share price | EUR     | 4.79  | 6.60   | -      | -      | 6.60   |
--------------------------------------------------------------------------------
| Market capitalisation  | EUR     | 150.4 | 193.1  | -      | -      | 125.7  |
| at the end of the      | million |       |        |        |        |        |
| period                 |         |       |        |        |        |        |
--------------------------------------------------------------------------------
| Trading volume         | 1,000   | 6 004 | 9 328  | -      | -      | 13 543 |
--------------------------------------------------------------------------------
| Trading volume         | %       | 16.6  | 25.4   | -      | -      | 37.1   |
--------------------------------------------------------------------------------
| Weighted average       | 1,000   | 36    | 36 672 | 36 137 | 36 626 | 36 526 |
| number of shares       |         | 169   |        |        |        |        |
| outstanding            |         |       |        |        |        |        |
--------------------------------------------------------------------------------
| Number of shares       | 1,000   | 35    | 36 575 | 35 981 | 36 575 | 36 210 |
| outstanding at the end |         | 981   |        |        |        |        |
| of the period          |         |       |        |        |        |        |
--------------------------------------------------------------------------------

1) In calculating the key ratio only the profit for the period has been         
annualised                                                                      


Calculation of key figures:                                                     
--------------------------------------------------------------------------------
| Gearing ratio, %             | Net interest-bearing debt x 100 /             |
|                              | Total equity                                  |
--------------------------------------------------------------------------------
| Return on equity, %          | Profit before taxes - income taxes) x 100/    |
|                              | Total equity. average                         |
--------------------------------------------------------------------------------
| Return on investment, %      | (Profit before taxes + interest and other     |
|                              | financial expenses) x 100 /                   |
|                              | Invested capital. average                     |
--------------------------------------------------------------------------------
| Equity ratio, %              | Total equity x 100 /                          |
|                              | (Total assets - advances received)            |
--------------------------------------------------------------------------------
| Invested capital             | Total assets - non-interest bearing debt -    |
|                              | deferred tax liabilities - provisions         |
--------------------------------------------------------------------------------
| Net interest bearing debt    | Interest bearing debt - cash and cash         |
|                              | equivalents                                   |
--------------------------------------------------------------------------------
| Earnings per share, share    | Net profit for the period attributable to     |
| issue adjusted               | equity holders of the parent company /        |
|                              | Weighted average number of shares outstanding |
--------------------------------------------------------------------------------
| Equity per share, share      | Shareholders' equity attributable to equity   |
| issue adjusted               | holders of the parent company /               |
|                              | Number of shares outstanding at the end of    |
|                              | the period. share issue adjusted              |
--------------------------------------------------------------------------------
| Price per earnings ratio     | Share price at the end of the period /        |
|                              | Earnings per share. share issue adjusted      |
--------------------------------------------------------------------------------
| Dividend payout ratio, %     | Dividend per share. share issue adjusted x    |
|                              | 100 /                                         |
|                              | Earnings per share. share issue adjusted      |
--------------------------------------------------------------------------------
| Dividend yield, %            | Dividend per share. share issue adjusted  x   |
|                              | 100 /                                         |
|                              | Share price at the end of the period. share   |
|                              | issue adjusted                                |
--------------------------------------------------------------------------------
| Average share price          | Number of shares traded in euros during the   |
|                              | period /                                      |
|                              | Number of shares traded during the period     |
--------------------------------------------------------------------------------
| Market capitalisation at the | Number of shares outstanding at the end of    |
| end of the period            | the period x share price at the end of the    |
|                              | period                                        |
--------------------------------------------------------------------------------
| Trading volume               | Number of shares traded during the period and |
|                              | in relation to the weighted average number of |
|                              | shares outstanding                            |
--------------------------------------------------------------------------------

SRV Group Plc  Interim Report  1.1. - 30.6.2009: TABLES                         

Appendixes                                                                      
1) Condensed consolidated financial statements: income statement, balance sheet,
statement of changes in equity, cash flow statement, commitments and contingent 
liabilities, derivative contracts liabilities                                   
2) Quarterly development                                                        
3) Segment information                                                          
4) Events after the reporting period                                            

1. Group financials 1.1. - 30.6.2009                                            

IFRS standards and operating segments                                           

SRV Group (SRV) adopted International Financial Reporting Standards (IFRS) on 1 
January 2006. In preparing interim condensed consolidated financial statement   
information, SRV has applied the same accounting principles as in its year-end  
financial statements for 2008. The figures in the tables have been rounded which
should be noted when counting the total sums. The interim condensed consolidated
financial statement information has been prepared in accordance with the        
accounting policies set out in the IAS 34 standard and the information disclosed
is unaudited.                                                                   

SRV's reporting segments comprise Business Premises, Housing, International     
Operations and Other Operations. The operating segment figures are disclosed in 
accordance with IFRS 8, following the accounting principles applied in the      
consolidated financial statements.                                              

The following new or revised standards and interpretations are effective from   
January 1, 2009:                                                                

- IAS 23 Borrowing costs. Borrowing costs attributable to construction projects 
starting in 2009 or later shall be capitalized in inventory and recognized in   
the income statement as the revenue from the construction project is recognized.
This amendment has an impact both on the Group's financial position and         
reporting. During the period 1.1.-31.3.2009 the impact of this amendment to     
Group's financial position was minor.                                           
- IAS 1 Presentation of financeal statements. Starting from 2009 Group shall    
present income statement and the statement of comprehensive income. Statement of
comprehensive income includes changes in equity that relate to transactions with
non-owners.                                                                     

Estimate of the future impacts of the interpretations:                          

- IFRIC 15 Agreements for the construction of real estate. The interpretation   
specifies when the revenue relating to construction contracts may be recognized 
using the Percentage of Completion method and when Completed Contract method    
should be used instead. The application of this interpretation will have an     
impact primarily on revenue recognition of the housing developer contracting and
it will have an impact both on the Group's financial position and reporting.    
Currently Group applies Percentage of Completion method on housing developer    
contracting. According to the interpretation the Completed Contract method      
should be applied instead. EU  enforced the interpretation on 22 July of 2009   
and  the interpretation shall be applied on the financial year starting January 
1, 2010.                                                                        


--------------------------------------------------------------------------------
| Consolidated      | IFRS  | IFRS  |       |       | IFRS   | IFRS   | IFRS   |
| income            |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| statement         | 1-6/  | 1-6/  | chang | chang | 4-6/   | 4-6/   | 1-12/  |
| (EUR million)     | 2009  | 2008  | e,    | e,%   | 2009   | 2008   | 2008   |
|                   |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Revenue           | 180.6 | 288.8 | -108. | -37.5 | 94.2   | 142.4  | 537.0  |
|                   |       |       | 2     |       |        |        |        |
--------------------------------------------------------------------------------
| Other operating   | 1.1   | 0.6   | 0.5   | 90.3  | 0.7    | 0.2    | 1.4    |
| income            |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Change in         | 10.3  | 13.7  | -3.5  | -25.2 | 2.7    | 12.3   | 53.5   |
| inventories of    |       |       |       |       |        |        |        |
| finished goods    |       |       |       |       |        |        |        |
| and work in       |       |       |       |       |        |        |        |
| progress          |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Use of materials  | -156. | -252. | 96.2  | -38.1 | -79.1  | -128.6 | -495.3 |
| and services      | 4     | 5     |       |       |        |        |        |
--------------------------------------------------------------------------------
| Employee benefit  | -23.2 | -23.8 | 0.5   | -2.3  | -11.7  | -12.5  | -46.3  |
| expenses          |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Depreciation and  | -1.8  | -1.4  | -0.4  | 31.6  | -0.9   | -0.8   | -3.2   |
| impairments       |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Other operating   | -5.2  | -7.3  | 2.1   | -29.3 | -2.3   | -3.9   | -14.1  |
| expenses          |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Operating profit  | 5.4   | 18.1  | -12.7 | -70.2 | 3.5    | 9.2    | 32.9   |
--------------------------------------------------------------------------------
| Financial income  | 1.3   | 2.9   | -1.6  | -56.6 | 0.6    | 1.7    | 4.2    |
--------------------------------------------------------------------------------
| Financial         | -3.7  | -5.9  | 2.2   | -37.2 | -1.6   | -4.1   | -13.4  |
| expenses          |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Financial income  | -2.5  | -3.0  |       |       | -1.0   | -2.4   | -9.2   |
| and expenses,     |       |       |       |       |        |        |        |
| total             |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Profit before     | 2.9   | 15.1  | -12.1 | -80.5 | 2.5    | 6.8    | 23.7   |
| taxes             |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Income taxes      | -1.7  | -4.6  | 2.9   | -63.0 | -1.3   | -2.2   | -8.5   |
--------------------------------------------------------------------------------
| Net profit for    | 1.2   | 10.4  | -9.2  | -88.3 | 1.2    | 4.5    | 15.3   |
| the period        |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Attributable to   |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Equity holders of | 1.2   | 10.1  |       |       | 1.0    | 4.4    | 15.7   |
| the parent        |       |       |       |       |        |        |        |
| company           |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Minority interest | 0.1   | 0.3   |       |       | 0.2    | 0.2    | -0.4   |
--------------------------------------------------------------------------------
| Earnings per      | 0.03  | 0.28  |       | -89.3 | 0.03   | 0.12   | 0.43   |
| share calculated  |       |       |       |       |        |        |        |
| on the profit     |       |       |       |       |        |        |        |
| attributable to   |       |       |       |       |        |        |        |
| equity holders of |       |       |       |       |        |        |        |
| the parent        |       |       |       |       |        |        |        |
| company           |       |       |       |       |        |        |        |
| (undiluted and    |       |       |       |       |        |        |        |
| diluted)          |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
|                                  | IFRS  | IFRS   | IFRS   | IFRS   | IFRS   |
--------------------------------------------------------------------------------
| Statement of comprehensive       | 1-6/  | 1-6/   | 4-6/   | 4-6/   | 1-12/  |
| income                           | 2009  | 2008   | 2009   | 2008   | 2008   |
| (EUR million)                    |       |        |        |        |        |
--------------------------------------------------------------------------------
| Net profit for the period        | 1.2   | 10.4   | 1.2    | 4.5    | 15.3   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Items recognised directly in     |       |        |        |        |        |
| equity:                          |       |        |        |        |        |
--------------------------------------------------------------------------------
| Exchange differences on          | 0.0   | -0.1   | 0.0    | -0.1   | -0.1   |
| translating foreign operations   |       |        |        |        |        |
--------------------------------------------------------------------------------
| Available for sale financial     | 0.0   | 0.0    | 0.0    | 0.0    | -0.1   |
| assets                           |       |        |        |        |        |
--------------------------------------------------------------------------------
| Net gain (loss) on cash flow     | 0.0   | 0.0    | 0.0    | 0.0    | 0.0    |
| hedges                           |       |        |        |        |        |
--------------------------------------------------------------------------------
| Deferred tax                     | 0.0   | 0.0    | 0.0    | 0.0    | 0.0    |
--------------------------------------------------------------------------------
| Income (loss) recognised         | 0.0   | -0.1   | 0.0    | 0.0    | -0.1   |
| directly in equity net of tax    |       |        |        |        |        |
--------------------------------------------------------------------------------
| Total comprehensive income for   | 1.2   | 10.4   | 1.2    | 4.5    | 15.1   |
| the period                       |       |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit for the period            |       |        |        |        |        |
| attributable to:                 |       |        |        |        |        |
--------------------------------------------------------------------------------
| Equity holders of the parent     | 1.1   | 10.1   | 1.2    | 4.5    | 15.6   |
| company                          |       |        |        |        |        |
--------------------------------------------------------------------------------
| Minority interest                | 0.1   | 0.3    | 0.0    | 0.0    | -0.4   |
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
| Consolidated balance sheet   | IFRS      | IFRS      | change,   | IFRS      |
--------------------------------------------------------------------------------
| (EUR million)                | 30.6.09   | 30.6.08   | %         | 31.12.08  |
--------------------------------------------------------------------------------
| ASSETS                       |           |           |           |           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current assets           |           |           |           |           |
--------------------------------------------------------------------------------
| Property, plant and          | 17.5      | 26.1      | -33.2     | 19.0      |
| equipment                    |           |           |           |           |
--------------------------------------------------------------------------------
| Goodwill                     | 1.7       | 1.8       | -1.2      | 1.7       |
--------------------------------------------------------------------------------
| Other intangible assets      | 0.5       | 0.7       | -27.8     | 0.5       |
--------------------------------------------------------------------------------
| Other financial assets       | 4.3       | 3.7       | 18.1      | 4.3       |
--------------------------------------------------------------------------------
| Receivables                  | 7.4       | 5.0       | 49.4      | 6.6       |
--------------------------------------------------------------------------------
| Deferred tax assets          | 1.9       | 1.3       | 44.5      | 1.7       |
--------------------------------------------------------------------------------
| Non-current assets, total    | 33.3      | 38.5      | -13.5     | 33.8      |
--------------------------------------------------------------------------------
|                              |           |           |           |           |
--------------------------------------------------------------------------------
| Current assets               |           |           |           |           |
--------------------------------------------------------------------------------
| Inventories                  | 300.9     | 249.9     | 20.4      | 294.8     |
--------------------------------------------------------------------------------
| Trade and other receivables  | 71.6      | 89.0      | -19.5     | 86.7      |
--------------------------------------------------------------------------------
| Current tax receivables      | 5.6       | 6.5       | -14.2     | 5.1       |
--------------------------------------------------------------------------------
| Cash and cash equivalents    | 6.7       | 10.1      | -33.5     | 3.4       |
--------------------------------------------------------------------------------
| Current assets, total        | 384.9     | 355.5     | 8.3       | 390.0     |
--------------------------------------------------------------------------------
| ASSETS, TOTAL                | 418.1     | 393.9     | 6.1       | 423.8     |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Consolidated balance sheet   | IFRS      | IFRS      | change,   | IFRS      |
--------------------------------------------------------------------------------
| (EUR million)                | 30.6.09   | 30.6.08   | %         | 31.12.08  |
--------------------------------------------------------------------------------
| EQUITY AND LIABILITIES       |           |           |           |           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity attributable to       |           |           |           |           |
| equity holders of the parent |           |           |           |           |
| company                      |           |           |           |           |
--------------------------------------------------------------------------------
| Share capital                | 3.1       | 3.1       | 0.0       | 3.1       |
--------------------------------------------------------------------------------
| Invested free equity fund    | 87.3      | 87.3      | 0.0       | 87.3      |
--------------------------------------------------------------------------------
| Translation differences      | -0.1      | -0.1      | 2.0       | -0.1      |
--------------------------------------------------------------------------------
| Fair value reserve           | -0.1      | 0.0       |           | -0.1      |
--------------------------------------------------------------------------------
| Retained earnings            | 70.0      | 70.4      | -0.6      | 74.1      |
--------------------------------------------------------------------------------
| Equity attributable to       | 160.3     | 160.8     | -0.3      | 164.3     |
| equity holders of the parent |           |           |           |           |
| company, total               |           |           |           |           |
--------------------------------------------------------------------------------
| Minority interest            | 0.4       | 2.9       | -84.8     | 2.3       |
--------------------------------------------------------------------------------
| Equity, total                | 160.7     | 163.7     | -1.8      | 166.6     |
--------------------------------------------------------------------------------
| Non-current liabilities      |           |           |           |           |
--------------------------------------------------------------------------------
| Deferred tax liabilities     | 0.2       | 0.4       | -51.3     | 0.3       |
--------------------------------------------------------------------------------
| Provisions                   | 4.9       | 6.0       | -19.4     | 5.6       |
--------------------------------------------------------------------------------
| Interest-bearing liabilities | 83.0      | 50.8      | 63.3      | 69.7      |
--------------------------------------------------------------------------------
| Other liabilities            |           |           |           |           |
--------------------------------------------------------------------------------
| Non-current liabilities,     | 88.1      | 57.3      | 53.8      | 75.6      |
| total                        |           |           |           |           |
--------------------------------------------------------------------------------
| Current liabilities          |           |           |           |           |
--------------------------------------------------------------------------------
| Trade and other payables     | 53.7      | 83.0      | -35.2     | 66.8      |
--------------------------------------------------------------------------------
| Current tax payables         | 2.4       | 4.3       | -43.7     | 8.0       |
--------------------------------------------------------------------------------
| Provisions                   | 3.7       | 4.1       | -8.9      | 3.8       |
--------------------------------------------------------------------------------
| Interest-bearing liabilities | 109.5     | 81.7      | 34.0      | 103.1     |
--------------------------------------------------------------------------------
| Current liabilities, total   | 169.3     | 173.0     | -2.1      | 181.6     |
--------------------------------------------------------------------------------
| Liabilities, total           | 257.4     | 230.3     | 11.8      | 257.2     |
--------------------------------------------------------------------------------
| EQUITY AND LIABILITIES       | 418.1     | 393.9     | 6.1       | 423.8     |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Consolidated cash flow statement       | IFRS      | IFRS       | IFRS       |
--------------------------------------------------------------------------------
| (EUR million)                          | 1-6/2009  | 1-6/2008   | 1-12/2008  |
--------------------------------------------------------------------------------
| Cash flows from operating activities   |           |            |            |
--------------------------------------------------------------------------------
| Net profit for the period              | 1,2       | 10,4       | 15,3       |
--------------------------------------------------------------------------------
| Adjustments:                           |           |            |            |
--------------------------------------------------------------------------------
| Depreciation and impairments           | 1,8       | 1,4        | 3,2        |
--------------------------------------------------------------------------------
| Non-cash transactions                  | -1,0      | -0,2       | -0,5       |
--------------------------------------------------------------------------------
| Financial income and expenses          | 2,5       | 3,0        | 9,2        |
--------------------------------------------------------------------------------
| Capital gains on sales of tangible and | 0,0       | 0,0        | 0,0        |
| intangible assets                      |           |            |            |
--------------------------------------------------------------------------------
| Income taxes                           | 1,7       | 4,6        | 8,5        |
--------------------------------------------------------------------------------
| Adjustments, total                     | 5,0       | 8,9        | 20,3       |
--------------------------------------------------------------------------------
|                                        |           |            |            |
--------------------------------------------------------------------------------
| Changes in working capital:            |           |            |            |
--------------------------------------------------------------------------------
| Change in loan receivables             | 0,0       | -6,3       | -12,6      |
--------------------------------------------------------------------------------
| Change in trade and other receivables  | 15,2      | 8,1        | 14,9       |
--------------------------------------------------------------------------------
| Change in inventories                  | -5,6      | -53,2      | -98,8      |
--------------------------------------------------------------------------------
| Change in trade and other payables     | -11,5     | -15,2      | -31,9      |
--------------------------------------------------------------------------------
| Changes in working capital, total      | -1,9      | -66,7      | -128,3     |
--------------------------------------------------------------------------------
|                                        |           |            |            |
--------------------------------------------------------------------------------
| Interest paid                          | -6,4      | -5,7       | -13,0      |
--------------------------------------------------------------------------------
| Interest received                      | 1,1       | 5,0        | 6,7        |
--------------------------------------------------------------------------------
| Dividends received                     | 0,0       | 0,0        | 0,0        |
--------------------------------------------------------------------------------
| Income taxes paid                      | -8,0      | -4,9       | -4,2       |
--------------------------------------------------------------------------------
|                                        | -13,3     | -5,6       | -10,5      |
--------------------------------------------------------------------------------
| Net cash flow from operating           | -9,0      | -53,0      | -103,2     |
| activities                             |           |            |            |
--------------------------------------------------------------------------------
|                                        |           |            |            |
--------------------------------------------------------------------------------
| Cash flow from investing activities    |           |            |            |
--------------------------------------------------------------------------------
| Acquisition of subsidiaries, net of    | -2,0      | -1,3       | -1,3       |
| cash                                   |           |            |            |
--------------------------------------------------------------------------------
| Property, plant and equipment          | -0,2      | -19,3      | -13,7      |
--------------------------------------------------------------------------------
| Intangible assets                      | 0,0       | -0,2       | -0,3       |
--------------------------------------------------------------------------------
| Other financial assets                 | -0,1      | -0,8       | -1,5       |
--------------------------------------------------------------------------------
| Sale of property, plant and equipment  | 0,0       | 0,1        | 0,1        |
| and intangible assets                  |           |            |            |
--------------------------------------------------------------------------------
| Sale of financial assets               | 0,0       | 0,0        | 0,0        |
--------------------------------------------------------------------------------
| Net cash used in investing activities  | -2,3      | -21,5      | -16,7      |
--------------------------------------------------------------------------------
|                                        |           |            |            |
--------------------------------------------------------------------------------
| Cash flows from financing activities   |           |            |            |
--------------------------------------------------------------------------------
| Proceeds from share issue              | 0,0       | 0,0        | 0,0        |
--------------------------------------------------------------------------------
| Proceeds from loans                    | 14,1      | 18,4       | 68,9       |
--------------------------------------------------------------------------------
| Repayments of loans                    | -17,2     | -9,2       | -10,1      |
--------------------------------------------------------------------------------
| Change in loan receivables             | 0,0       | 0,0        | 0,0        |
--------------------------------------------------------------------------------
| Change in housing corporation loans    | 2,8       | 16,0       | 30,6       |
--------------------------------------------------------------------------------
| Change in credit limits                | 20,1      | 42,8       | 18,8       |
--------------------------------------------------------------------------------
| Purchase of treasury shares            | -0,7      | -0,4       | -1,9       |
--------------------------------------------------------------------------------
| Dividends paid                         | -4,4      | -4,4       | -4,4       |
--------------------------------------------------------------------------------
| Net cash from financing activities     | 14,7      | 63,2       | 101,8      |
--------------------------------------------------------------------------------
| Net change in cash and cash            | 3,4       | -11,3      | -18,0      |
| equivalents                            |           |            |            |
--------------------------------------------------------------------------------
| Cash and cash equivalents at the       | 3,4       | 21,4       | 21,4       |
| beginning of period                    |           |            |            |
--------------------------------------------------------------------------------
| Cash and cash equivalents at the end   | 6,7       | 10,1       | 3,4        |
| of period                              |           |            |            |
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
| Inventories                        | IFRS    | IFRS    | change,  | IFRS     |
--------------------------------------------------------------------------------
| (EUR million)                      | 30.6.09 | 30.6.08 | %        | 31.12.08 |
--------------------------------------------------------------------------------
| Raw materials and consumables      | 0.0     | 0.1     | -84.6    | 0.0      |
--------------------------------------------------------------------------------
| Work in progress                   | 91.6    | 73.8    | 24.1     | 100.8    |
--------------------------------------------------------------------------------
| Land areas and plot-owning         | 149.2   | 118.7   | 25.7     | 142.1    |
| companies                          |         |         |          |          |
--------------------------------------------------------------------------------
| Shares in completed housing        | 41.8    | 37.7    | 10.8     | 34.0     |
| corporations and real estate       |         |         |          |          |
| companies                          |         |         |          |          |
--------------------------------------------------------------------------------
| Advance payments                   | 4.0     | 6.2     | -35.4    | 3.7      |
--------------------------------------------------------------------------------
| Other inventories                  | 14.3    | 13.4    | 7.2      | 14.2     |
--------------------------------------------------------------------------------
| Inventories, total                 | 300.9   | 249.9   | 20.4     | 294.8    |
--------------------------------------------------------------------------------

Statement of changes in Group equity 1.1. - 30.6.2009                           
--------------------------------------------------------------------------------
|              | Equity attributable to                        |               |
|              | the equity holders of the parent company      |               |
--------------------------------------------------------------------------------
| IFRS         | Sha | Shar | Inve | Tran | Fai | Retai | Tota | Minor | Total |
| (EUR         | re  | e    | sted | s-la | r   | -ned  | l    | ity   | equit |
| million)     | cap | prem | free | tion | val | earni |      | inter | y     |
|              | ita | ium  | equi | diff | ue  | ngs   |      | est   |       |
|              | l   | rese | ty   | er-e | res |       |      |       |       |
|              |     | rve  | fund | nces | erv |       |      |       |       |
|              |     |      |      |      | e   |       |      |       |       |
--------------------------------------------------------------------------------
| Equity on    | 3.1 | 0.0  | 87.3 | -0.1 | -0. | 74.1  | 164. | 2.3   | 166.6 |
| 1.1.2009     |     |      |      |      | 1   |       | 3    |       |       |
--------------------------------------------------------------------------------
| Translation  |     |      |      | 0.0  | 0.0 |       | 0.0  |       |       |
| differences  |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Other        |     |      |      |      |     | -0.2  | -0.2 |       |       |
| changes      |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Net income   | 0.0 | 0.0  | 0.0  | 0.0  | 0.0 | -0.2  | -0.2 |       |       |
| recognised   |     |      |      |      |     |       |      |       |       |
| directly in  |     |      |      |      |     |       |      |       |       |
| equity       |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Net profit   |     |      |      |      |     | 1.2   | 1.2  |       |       |
| for the      |     |      |      |      |     |       |      |       |       |
| financial    |     |      |      |      |     |       |      |       |       |
| year         |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Total income | 0.0 | 0.0  | 0.0  | 0.0  | 0.0 | 1.2   | 1.2  |       |       |
| and expenses |     |      |      |      |     |       |      |       |       |
| for the      |     |      |      |      |     |       |      |       |       |
| financial    |     |      |      |      |     |       |      |       |       |
| year         |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Dividends    |     |      |      |      |     | -4.3  | -4.3 |       |       |
| paid         |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Share based  |     |      |      |      |     | 0.0   | 0.0  |       |       |
| incentive    |     |      |      |      |     |       |      |       |       |
| plan         |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Purchase of  |     |      |      |      |     | -0.7  | -0.7 |       |       |
| treasury     |     |      |      |      |     |       |      |       |       |
| shares       |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Equity on    | 3.1 | 0.0  | 87.3 | -0.1 | -0. | 70.0  | 160. | 0.4   | 160.7 |
| 30.6.2009    |     |      |      |      | 1   |       | 3    |       |       |
--------------------------------------------------------------------------------

Statement of changes in Group equity 1.1. - 30.6.2008                           
--------------------------------------------------------------------------------
|              | Equity attributable to                        |               |
|              | the equity holders of the parent company      |               |
--------------------------------------------------------------------------------
| IFRS         | Sha | Shar | Inve | Tran | Fai | Retai | Tota | Minor | Total |
| (EUR         | re  | e    | sted | s-la | r   | -ned  | l    | ity   | equit |
| million)     | cap | prem | free | tion | val | earni |      | inter | y     |
|              | ita | ium  | equi | diff | ue  | ngs   |      | est   |       |
|              | l   | rese | ty   | er-e | res |       |      |       |       |
|              |     | rve  | fund | nces | erv |       |      |       |       |
|              |     |      |      |      | e   |       |      |       |       |
--------------------------------------------------------------------------------
| Equity on    | 3.1 | 0.0  | 87.3 | 0.0  | 0.0 | 64.7  | 155. | 3.2   | 158.3 |
| 1.1.2008     |     |      |      |      |     |       | 1    |       |       |
--------------------------------------------------------------------------------
| Translation  |     |      |      | -0.1 | 0.0 |       | -0.1 |       |       |
| differences  |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Other        |     |      | 0.0  |      |     | 0.2   | 0.2  |       |       |
| changes      |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Net income   | 0.0 | 0.0  | 0.0  | -0.1 | 0.0 | 0.2   | 0.1  |       |       |
| recognised   |     |      |      |      |     |       |      |       |       |
| directly in  |     |      |      |      |     |       |      |       |       |
| equity       |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Net profit   |     |      |      |      |     | 10.1  | 10.1 |       |       |
| for the      |     |      |      |      |     |       |      |       |       |
| financial    |     |      |      |      |     |       |      |       |       |
| year         |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Total income | 0.0 | 0.0  | 0.0  | 0.0  | 0.0 | 10.1  | 10.1 |       |       |
| and expenses |     |      |      |      |     |       |      |       |       |
| for the      |     |      |      |      |     |       |      |       |       |
| financial    |     |      |      |      |     |       |      |       |       |
| year         |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Dividends    |     |      |      |      |     | -4.4  | -4.4 |       |       |
| paid         |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Purchase of  |     |      |      |      |     | -0.2  | -0.2 |       |       |
| treasury     |     |      |      |      |     |       |      |       |       |
| shares       |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Equity on    | 3.1 | 0.0  | 87.3 | -0.1 | 0.0 | 70.4  | 160. | 2.9   | 163.7 |
| 30.6.2008    |     |      |      |      |     |       | 8    |       |       |
--------------------------------------------------------------------------------

Statement of changes in Group equity 1.1. - 31.12.2008                          
--------------------------------------------------------------------------------
|              | Equity attributable to                        |               |
|              | the equity holders of the parent company      |               |
--------------------------------------------------------------------------------
| IFRS         | Sha | Shar | Inve | Tran | Fai | Retai | Tota | Minor | Total |
| (EUR         | re  | e    | sted | s-la | r   | -ned  | l    | ity   | equit |
| million)     | cap | prem | free | tion | val | earni |      | inter | y     |
|              | ita | ium  | equi | diff | ue  | ngs   |      | est   |       |
|              | l   | rese | ty   | er-e | res |       |      |       |       |
|              |     | rve  | fund | nces | erv |       |      |       |       |
|              |     |      |      |      | e   |       |      |       |       |
--------------------------------------------------------------------------------
| Equity on    | 3.1 | 0.0  | 87.3 | 0.0  | 0.0 | 64.7  | 155. | 3.2   | 158.3 |
| 1.1.2008     |     |      |      |      |     |       | 1    |       |       |
--------------------------------------------------------------------------------
| Translation  |     |      |      | -0.1 | -0. | 0.1   | -0.1 |       |       |
| differences  |     |      |      |      | 1   |       |      |       |       |
--------------------------------------------------------------------------------
| Other        |     |      | 0.0  |      |     | 0.0   | 0.0  |       |       |
| changes      |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Net income   | 0.0 | 0.0  | 0.0  | -0.1 | -0. | 0.0   | -0.2 |       |       |
| recognised   |     |      |      |      | 1   |       |      |       |       |
| directly in  |     |      |      |      |     |       |      |       |       |
| equity       |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Net profit   |     |      |      |      |     | 15.7  | 15.7 |       |       |
| for the      |     |      |      |      |     |       |      |       |       |
| financial    |     |      |      |      |     |       |      |       |       |
| year         |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Total income | 0.0 | 0.0  | 0.0  | 0.0  | 0.0 | 15.7  | 15.7 |       |       |
| and expenses |     |      |      |      |     |       |      |       |       |
| for the      |     |      |      |      |     |       |      |       |       |
| financial    |     |      |      |      |     |       |      |       |       |
| year         |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Dividends    |     |      |      |      |     | -4.4  | -4.4 |       |       |
| paid         |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Purchase of  |     |      |      |      |     | -1.9  | -1.9 |       |       |
| treasury     |     |      |      |      |     |       |      |       |       |
| shares       |     |      |      |      |     |       |      |       |       |
--------------------------------------------------------------------------------
| Equity on    | 3.1 | 0.0  | 87.3 | -0.1 | -0. | 74.1  | 164. | 2.3   | 166.6 |
| 31.12.2008   |     |      |      |      | 1   |       | 3    |       |       |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Commitments and contingent         | IFRS    | IFRS    | change,  | IFRS     |
| liabilities                        |         |         |          |          |
--------------------------------------------------------------------------------
| EUR million                        | 30.6.09 | 30.6.08 | %        | 31.12.08 |
--------------------------------------------------------------------------------
| Collateral given for own           |         |         |          |          |
| liabilities                        |         |         |          |          |
--------------------------------------------------------------------------------
| Real estate mortgages given        | 118.3   | 95.3    | 24.2     | 114.7    |
--------------------------------------------------------------------------------
| Pledges given                      | 0.0     | 0.0     |          | 0.0      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other commitments                  |         |         |          |          |
--------------------------------------------------------------------------------
| Guarantees given for liabilities   | 0.0     | 23.4    | -100.0   | 0.4      |
| on uncompleted projects            |         |         |          |          |
--------------------------------------------------------------------------------
| Investment commitments given       | 22.3    | 4.0     | 456.7    | 2.7      |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Fair and nominal    | IFRS            | IFRS             | IFRS              |
| values of           | 30.6.09         | 30.6.2008        | 31.12.08          |
| derivative          |                 |                  |                   |
| instruments         |                 |                  |                   |
--------------------------------------------------------------------------------
| (EUR million)       | Fair Values     | Fair Values      | Fair Values       |
--------------------------------------------------------------------------------
|                     | Positi | Negati | Positi |         | Positiv | Negativ |
|                     | ve     | ve     | ve     |         | e       | e       |
--------------------------------------------------------------------------------
| Hedge accounting    |        |        |        |         |         |         |
| not applied         |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Foreign exchange    | 0.0    | 0.0    | 0.2    | 0.0     | 0.0     | 0.0     |
| forward contracts   |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Interest rate swaps | 0.1    | 0.1    | 0.0    | 0.0     | 0.0     | 0.0     |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Nominal values of   |        | IFRS   |        | IFRS    |         | IFRS    |
| derivative          |        |        |        |         |         |         |
| instruments         |        |        |        |         |         |         |
--------------------------------------------------------------------------------
|                     |        | 30.6.0 |        | 30.6.08 |         | 31.12.0 |
|                     |        | 9      |        |         |         | 8       |
--------------------------------------------------------------------------------
| Foreign exchange    |        | 0.0    |        | 8.1     |         | 0.0     |
| forward contracts   |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Interest rate swaps |        | 63.4   |        | 11.2    |         | 18.8    |
--------------------------------------------------------------------------------
| The fair values of derivative instruments are based on market prices at the  |
| end of the reporting period.                                                 |
| Open foreign exchange forward contracts are                                  |
| hedging the financing cash flow.                                             |
--------------------------------------------------------------------------------

2. Group and Segment information by quarter                                     

--------------------------------------------------------------------------------
| SRV Group      | IFRS  | IFRS | IFRS | IFRS  | IFRS  | IFRS  |       |       |
--------------------------------------------------------------------------------
| (EUR million)  | 4-6/0 | 1-3/ | 10-1 | 7-9/0 | 4-6/0 | 1-3/0 |       |       |
|                | 9     | 09   | 2/08 | 8     | 8     | 8     |       |       |
--------------------------------------------------------------------------------
| Revenue        | 94.2  | 86.4 | 121. | 126.7 | 142.4 | 146.4 |       |       |
|                |       |      | 4    |       |       |       |       |       |
--------------------------------------------------------------------------------
| Operating      | 3.5   | 1.9  | 0.7  | 14.1  | 9.2   | 8.9   |       |       |
| profit         |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Financial      | -1.0  | -1.5 | -3.3 | -2.9  | -2.4  | -0.6  |       |       |
| income and     |       |      |      |       |       |       |       |       |
| expenses,      |       |      |      |       |       |       |       |       |
| total          |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Profit before  | 2.5   | 0.4  | -2.6 | 11.2  | 6.8   | 8.3   |       |       |
| taxes          |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog  | 458.4 | 453. | 455. | 455.2 | 521.1 | 451.3 |       |       |
| 1)             |       | 9    | 3    |       |       |       |       |       |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per   | 0.03  | 0.00 | -0.0 | 0.21  | 0.12  | 0.16  |       |       |
| share, eur     |       |      | 6    |       |       |       |       |       |
--------------------------------------------------------------------------------
| Equity per     | 4.45  | 4.42 | 4.54 | 4.61  | 4.40  | 4.38  |       |       |
| share, eur 1)  |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Share price,   | 4.18  | 3.00 | 3.47 | 4.19  | 5.28  | 5.55  |       |       |
| eur 1)         |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity ratio,  | 40.4  | 40.9 | 41.3 | 45.9  | 44.9  | 52.1  |       |       |
| % 1)           |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Net interest   | 185.8 | 170. | 169. | 127.9 | 122.4 | 76.1  |       |       |
| bearing debt   |       | 6    | 4    |       |       |       |       |       |
| 1)             |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Gearing, % 1)  | 115.6 | 105. | 101. | 75.2  | 74.8  | 46.3  |       |       |
|                |       | 3    | 7    |       |       |       |       |       |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Revenue        | IFRS  | IFRS | IFRS | IFRS  | IFRS  | IFRS  |       |       |
--------------------------------------------------------------------------------
| (EUR million)  | 4-6/0 | 1-3/ | 10-1 | 7-9/0 | 4-6/0 | 1-3/0 |       |       |
|                | 9     | 09   | 2/08 | 8     | 8     | 8     |       |       |
--------------------------------------------------------------------------------
| Business       | 46.1  | 54.8 | 77.9 | 74.3  | 92.2  | 104.8 |       |       |
| Premises       |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Housing        | 40.5  | 25.8 | 33.3 | 31.4  | 37.1  | 26.0  |       |       |
--------------------------------------------------------------------------------
| International  | 7.6   | 5.8  | 10.2 | 21.0  | 13.1  | 15.7  |       |       |
--------------------------------------------------------------------------------
| Other          | 2.1   | 2.2  | 3.0  | 2.7   | 2.8   | 2.9   |       |       |
| Operations     |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Eliminations   | -2.1  | -2.2 | -3.1 | -2.7  | -2.9  | -2.9  |       |       |
--------------------------------------------------------------------------------
| Group, total   | 94.2  | 86.4 | 121. | 126.7 | 142.4 | 146.4 |       |       |
|                |       |      | 4    |       |       |       |       |       |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Operating      | IFRS  | IFRS | IFRS | IFRS  | IFRS  | IFRS  |       |       |
| profit         |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| (EUR million)  | 4-6/0 | 1-3/ | 10-1 | 7-9/0 | 4-6/0 | 1-3/0 |       |       |
|                | 9     | 09   | 2/08 | 8     | 8     | 8     |       |       |
--------------------------------------------------------------------------------
| Business       | 4.6   | 5.9  | 6.0  | 3.7   | 9.9   | 8.2   |       |       |
| Premises       |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Housing        | 1.9   | 0.0  | -1.2 | 0.5   | 0.9   | 0.4   |       |       |
--------------------------------------------------------------------------------
| International  | -1.9  | -2.5 | -2.7 | 10.8  | -0.1  | 1.2   |       |       |
--------------------------------------------------------------------------------
| Other          | -1.0  | -1.6 | -1.4 | -1.0  | -1.6  | -0.9  |       |       |
| Operations     |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Eliminations   | 0.0   | 0.0  | 0.0  | 0.0   | 0.0   | 0.0   |       |       |
--------------------------------------------------------------------------------
| Group, total   | 3.5   | 1.9  | 0.7  | 14.1  | 9.2   | 8.9   |       |       |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Operating      | IFRS  | IFRS | IFRS | IFRS  | IFRS  | IFRS  |       |       |
| profit         |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| (%)            | 4-6/0 | 1-3/ | 10-1 | 7-9/0 | 4-6/0 | 1-3/0 |       |       |
|                | 9     | 09   | 2/08 | 8     | 8     | 8     |       |       |
--------------------------------------------------------------------------------
| Business       | 10.0  | 10.8 | 7.8  | 4.9   | 10.8  | 7.8   |       |       |
| Premises       |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Housing        | 4.6   | 0.0  | -3.6 | 1.7   | 2.5   | 1.6   |       |       |
--------------------------------------------------------------------------------
| International  | -25.6 | -43. | -26. | 51.5  | -0.9  | 7.9   |       |       |
|                |       | 3    | 5    |       |       |       |       |       |
--------------------------------------------------------------------------------
| Group, total   | 3.7   | 2.2  | 0.6  | 11.1  | 6.4   | 6.1   |       |       |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Order backlog  | IFRS  | IFRS | IFRS | IFRS  | IFRS  | IFRS  |       |       |
--------------------------------------------------------------------------------
| (EUR million)  | 30.6. | 31.3 | 31.1 | 30.9. | 30.6. | 31.3. |       |       |
|                | 09    | .09  | 2.08 | 08    | 08    | 08    |       |       |
--------------------------------------------------------------------------------
| Business       | 224.3 | 252. | 265. | 228.8 | 291.1 | 235.2 |       |       |
| Premises       |       | 8    | 7    |       |       |       |       |       |
--------------------------------------------------------------------------------
| Housing        | 203.3 | 169. | 154. | 186.3 | 186.8 | 182.4 |       |       |
|                |       | 6    | 0    |       |       |       |       |       |
--------------------------------------------------------------------------------
| International  | 30.7  | 31.5 | 35.6 | 40.2  | 43.2  | 33.7  |       |       |
--------------------------------------------------------------------------------
| Group, total   | 458.4 | 453. | 455. | 455.2 | 521.1 | 451.3 |       |       |
|                |       | 9    | 3    |       |       |       |       |       |
--------------------------------------------------------------------------------
| - sold order   | 303   | 286  | 280  | 279   | 358   | 281   |       |       |
| backlog        |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| - unsold order | 155   | 168  | 176  | 176   | 163   | 170   |       |       |
| backlog        |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Invested       | IFRS  | IFRS | IFRS | IFRS  | IFRS  | IFRS  |       |       |
| capital        |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| (EUR million)  | 30.6. | 31.3 | 31.1 | 30.9. | 30.6. | 31.3. |       |       |
|                | 09    | .09  | 2.08 | 08    | 08    | 08    |       |       |
--------------------------------------------------------------------------------
| Business       | 77.0  | 69.2 | 63.9 | 63.5  | 51.2  | 43.7  |       |       |
| Premises       |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Housing        | 135.9 | 134. | 138. | 115.9 | 105.3 | 97.0  |       |       |
|                |       | 9    | 9    |       |       |       |       |       |
--------------------------------------------------------------------------------
| International  | 152.6 | 151. | 138. | 143.9 | 145.1 | 115.1 |       |       |
|                |       | 0    | 6    |       |       |       |       |       |
--------------------------------------------------------------------------------
| Other and      | -12.2 | -14. | -2.0 | -16.6 | -5.4  | 4.0   |       |       |
| eliminations   |       | 0    |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Group, total   | 353.2 | 341. | 339. | 306.6 | 296.2 | 259.8 |       |       |
|                |       | 1    | 4    |       |       |       |       |       |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Residential    |       |      |      |       |       |       |       |       |
| production     |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| in Finland     | 4-6/0 | 1-3/ | 10-1 | 7-9/0 | 4-6/0 | 1-3/0 |       |       |
| (units)        | 9     | 09   | 2/08 | 8     | 8     | 8     |       |       |
--------------------------------------------------------------------------------
| Start-ups      | 0     | 4    | 0    | 49    | 53    | 8     |       |       |
--------------------------------------------------------------------------------
| Sold           | 51    | 27   | 13   | 32    | 63    | 33    |       |       |
--------------------------------------------------------------------------------
| Completed 1)   | 93    | 58   | 0    | 31    | 104   | 125   |       |       |
--------------------------------------------------------------------------------
| Completed and  | 185   | 156  | 133  | 140   | 128   | 105   |       |       |
| unsold 1)      |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| Under          | 118   | 211  | 265  | 251   | 247   | 298   |       |       |
| construction 1 |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------
| - of which     | 100   | 180  | 226  | 232   | 227   | 260   |       |       |
| unsold 1)      |       |      |      |       |       |       |       |       |
--------------------------------------------------------------------------------

1) at the end of the period                                                     

3. Segment information                                                          
--------------------------------------------------------------------------------
| Assets                   | IFRS    | IFRS    | change,  | change, | IFRS     |
--------------------------------------------------------------------------------
| (EUR million)            | 30.6.09 | 30.6.08 | MEUR     | %       | 31.12.08 |
--------------------------------------------------------------------------------
| Business Premises        | 90.2    | 111.7   | -21.6    | -19.3   | 116.9    |
--------------------------------------------------------------------------------
| Housing                  | 160.2   | 127.3   | 32.8     | 25.8    | 158.4    |
--------------------------------------------------------------------------------
| International            | 157.7   | 157.8   | -0.1     | -0.1    | 158.6    |
--------------------------------------------------------------------------------
| Other Operations         | 194.1   | 187.8   | 6.3      | 3.3     | 185.1    |
--------------------------------------------------------------------------------
| Eliminations             | -184.0  | -190.7  | 6.7      |         | -195.2   |
--------------------------------------------------------------------------------
| Group, total             | 418.1   | 393.9   | 24.2     | 6.1     | 423.8    |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Liabilities              | IFRS    | IFRS    | change,  | change, | IFRS     |
--------------------------------------------------------------------------------
| (EUR million)            | 30.6.09 | 30.6.08 | MEUR     | %       | 31.12.08 |
--------------------------------------------------------------------------------
| Business Premises        | 46.6    | 82.0    | -35.3    | -43.1   | 81.7     |
--------------------------------------------------------------------------------
| Housing                  | 143.9   | 113.8   | 30.0     | 26.4    | 141.5    |
--------------------------------------------------------------------------------
| International            | 163.3   | 149.9   | 13.4     | 8.9     | 147.2    |
--------------------------------------------------------------------------------
| Other Operations         | 90.6    | 76.7    | 13.9     | 18.2    | 65.7     |
--------------------------------------------------------------------------------
| Eliminations             | -187.0  | -192.1  | 5.1      |         | -178.9   |
--------------------------------------------------------------------------------
| Group, total             | 257.4   | 230.3   | 27.1     | 11.8    | 257.2    |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Invested capital         | IFRS    | IFRS    | change,  | change, | IFRS     |
--------------------------------------------------------------------------------
| (EUR million)            | 30.6.09 | 30.6.08 | MEUR     | %       | 31.12.08 |
--------------------------------------------------------------------------------
| Business Premises        | 77.0    | 51.2    | 25.8     | 50.5    | 63.9     |
--------------------------------------------------------------------------------
| Housing                  | 135.9   | 105.3   | 30.6     | 29.0    | 138.9    |
--------------------------------------------------------------------------------
| International            | 152.6   | 145.1   | 7.5      | 5.2     | 138.6    |
--------------------------------------------------------------------------------
| Other and eliminations   | -12.2   | -5.4    | -6.9     |         | -2.0     |
--------------------------------------------------------------------------------
| Group, total             | 353.2   | 296.2   | 57.0     | 19.3    | 339.4    |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Inventories                       | IFRS    | IFRS     | change,  | IFRS     |
--------------------------------------------------------------------------------
| (MEUR)                            | 30.6.09 | 30.6.08  | MEUR     | 31.12.08 |
--------------------------------------------------------------------------------
| Land areas and plot-owning        | 149.2   | 118.7    | 30.5     | 142.1    |
| companies                         |         |          |          |          |
--------------------------------------------------------------------------------
| Business Premises                 | 25.0    | 22.6     | 2.5      | 24.6     |
--------------------------------------------------------------------------------
| Housing                           | 45.5    | 36.0     | 9.5      | 41.6     |
--------------------------------------------------------------------------------
| International                     | 78.4    | 60.1     | 18.3     | 76.0     |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Work in progress                  | 91.6    | 73.8     | 17.6     | 100.8    |
--------------------------------------------------------------------------------
| Business Premises                 | 32.9    | 20.1     | 12.8     | 30.0     |
--------------------------------------------------------------------------------
| Housing                           | 43.0    | 38.8     | 4.1      | 57.3     |
--------------------------------------------------------------------------------
| International                     | 15.7    | 14.9     | 0.7      | 13.6     |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Shares in completed housing       | 41.8    | 37.7     | 4.1      | 34.0     |
| corporations and real estate      |         |          |          |          |
| companies                         |         |          |          |          |
--------------------------------------------------------------------------------
| Business Premises                 | 0.0     | 0.0      | 0.0      | 0.0      |
--------------------------------------------------------------------------------
| Housing                           | 39.1    | 28.8     | 10.3     | 30.6     |
--------------------------------------------------------------------------------
| International                     | 2.6     | 8.9      | -6.3     | 3.3      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other inventories                 | 18.6    | 19.7     | -1.1     | 17.9     |
--------------------------------------------------------------------------------
| Business Premises                 | 5.1     | 5.2      | -0.1     | 5.0      |
--------------------------------------------------------------------------------
| Housing                           | 5.1     | 6.1      | -1.1     | 4.6      |
--------------------------------------------------------------------------------
| International                     | 9.5     | 9.4      | 0.1      | 9.3      |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Inventories, total                | 300.9   | 249.9    | 51.0     | 294.8    |
--------------------------------------------------------------------------------
| Business Premises                 | 63.0    | 47.9     | 15.1     | 59.6     |
--------------------------------------------------------------------------------
| Housing                           | 132.6   | 109.7    | 22.9     | 134.0    |
--------------------------------------------------------------------------------
| International                     | 106.0   | 93.2     | 12.8     | 102.1    |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Business Premises        | IFRS    | IFRS    | change,  | change,  | IFRS    |
--------------------------------------------------------------------------------
| (EUR million)            | 1-6/200 | 1-6/200 | MEUR     | %        | 2008    |
|                          | 9       | 8       |          |          |         |
--------------------------------------------------------------------------------
| Revenue                  | 100.9   | 197.0   | -96.0    | -48.7    | 349.1   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit         | 10.6    | 18.1    | -7.6     | -41.7    | 27.8    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Segment's assets         |         |         |          |          |         |
--------------------------------------------------------------------------------
| Non-current assets       | 0.9     | 0.9     | -0.1     | -6.0     | 0.9     |
--------------------------------------------------------------------------------
| Current assets           | 89.3    | 110.8   | -21.5    | -19.4    | 116.0   |
--------------------------------------------------------------------------------
| Total assets             | 90.2    | 111.7   | -21.6    | -19.3    | 116.9   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Segment's liabilities    |         |         |          |          |         |
--------------------------------------------------------------------------------
| Non-current liabilities  | 11.3    | 1.1     | 10.1     | 882.2    | 1.1     |
--------------------------------------------------------------------------------
| Current liabilities      | 35.4    | 80.8    | -45.4    | -56.2    | 80.6    |
--------------------------------------------------------------------------------
| Total liabilities        | 46.6    | 82.0    | -35.3    | -43.1    | 81.7    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Invested capital at end  | 77.0    | 51.2    | 25.8     | 50.5     | 63.9    |
| of period                |         |         |          |          |         |
--------------------------------------------------------------------------------
| Return on investment, %  | 30.5    | 91.6    |          |          | 60.8    |
| 1)                       |         |         |          |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog at end of  | 224.3   | 291.1   | -66.8    | -22.9    | 265.7   |
| period                   |         |         |          |          |         |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Housing                  | IFRS    | IFRS    | change,  | change,  | IFRS    |
--------------------------------------------------------------------------------
| (EUR million)            | 1-6/200 | 1-6/200 | MEUR     | %        | 2008    |
|                          | 9       | 8       |          |          |         |
--------------------------------------------------------------------------------
| Revenue                  | 66.3    | 63.1    | 3.2      | 5.1      | 127.9   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit         | 1.9     | 1.3     | 0.5      | 38.4     | 0.7     |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Segment's assets         |         |         |          |          |         |
--------------------------------------------------------------------------------
| Non-current assets       | 1.7     | 2.2     | -0.5     | -24.2    | 1.9     |
--------------------------------------------------------------------------------
| Current assets           | 158.5   | 125.1   | 33.4     | 26.7     | 156.5   |
--------------------------------------------------------------------------------
| Total assets             | 160.2   | 127.3   | 32.8     | 25.8     | 158.4   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Segment's liabilities    |         |         |          |          |         |
--------------------------------------------------------------------------------
| Non-current liabilities  | 59.5    | 44.4    | 15.2     | 34.2     | 58.3    |
--------------------------------------------------------------------------------
| Current liabilities      | 84.3    | 69.5    | 14.9     | 21.4     | 83.2    |
--------------------------------------------------------------------------------
| Total liabilities        | 143.9   | 113.8   | 30.0     | 26.4     | 141.5   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Invested capital at end  | 135.9   | 105.3   | 30.6     | 29.0     | 138.9   |
| of period                |         |         |          |          |         |
--------------------------------------------------------------------------------
| Return on investment, %  | 2.7     | 2.9     |          |          | 0.7     |
| 1)                       |         |         |          |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog at end of  | 203.3   | 186.8   | 16.5     | 8.8      | 154.0   |
| period                   |         |         |          |          |         |
--------------------------------------------------------------------------------


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| International Operations | IFRS    | IFRS    | change,  | change,  | IFRS    |
--------------------------------------------------------------------------------
| (EUR million)            | 1-6/200 | 1-6/200 | MEUR     | %        | 2008    |
|                          | 9       | 8       |          |          |         |
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| Revenue                  | 13.3    | 28.8    | -15.5    | -53.7    | 60.1    |
--------------------------------------------------------------------------------
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| Operating profit         | -4.4    | 1.1     | -5.6     |          | 9.2     |
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| Segment's assets         |         |         |          |          |         |
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| Non-current assets       | 16.5    | 22.8    | -6.3     | -27.7    | 16.2    |
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| Current assets           | 141.2   | 135.0   | 6.2      | 4.6      | 142.4   |
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| Total assets             | 157.7   | 157.8   | -0.1     | -0.1     | 158.6   |
--------------------------------------------------------------------------------
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| Segment's liabilities    |         |         |          |          |         |
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| Non-current liabilities  | 14.1    | 13.3    | 0.8      | 6.2      | 12.7    |
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| Current liabilities      | 149.2   | 136.6   | 12.5     | 9.2      | 134.6   |
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| Total liabilities        | 163.3   | 149.9   | 13.4     | 8.9      | 147.2   |
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| Invested capital at end  | 152.6   | 145.1   | 7.5      | 5.2      | 138.6   |
| of period                |         |         |          |          |         |
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| Return on investment. %  | -4.8    | 6.5     |          |          | 9.3     |
| 1)                       |         |         |          |          |         |
--------------------------------------------------------------------------------
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| Order backlog at end of  | 30.7    | 43.2    | -12.4    | -28.8    | 35.6    |
| period                   |         |         |          |          |         |
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1)In calculating the key ratio only the profit for the period has been          
annualised                                                                      

4) Events after the end of the reporting period                                 

SRV Terbelat Sia, a subsidiary of SRV Group Plc has been engaged as claimant in 
international arbitration proceedings in Berlin concerning a power plant        
construction contract in Latvia with a Latvian customer SIA Juglas Jauda. SRV   
suspended the work because of the customer's breach of the contract and         
terminated the contract in autumn 2007. The arbitration tribunal has confirmed  
SRV's right to terminate the contract, and ordered the defendant to pay SRV     
approximately EUR1.4 million for costs and interest. The enforcement of the     
arbitration tribunal's decision has to be applied in Latvian local court, where 
the customer has also started proceedings based on the same contract against    
SRV.

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