SRV Group prepares for the downswing in the market situation and starts negotiations concerning adjustments

SRV Group Plc prepares for the continuation of recession in the construction    
market. Tightening of the market has reflected on SRV's business operations in  
deferment of the projects and decrease in construction production.  Moreover,   
residential sales have slowed down essentially. Therefore, SRV rationalizes its 
internal processes and adjusts the number of employees to the market situation. 

SRV starts negotiations concerning the adjustments in the group companies. The  
Group's Finnish companies will start the co-operation negotiations covering the 
managerial staff and white-collar employees. At the same time, corresponding    
process is started in the Group's units abroad.                                 

The negotiations to be started concern lay-offs, redundancies and other         
adjustment actions. The need for reduction applies to 130 persons, at the most, 
of which approximately 50 in the units abroad. More detailed goals and measures 
will be defined during the negotiation process.                                 

SRV Group Plc                                                                   
Eero Heliövaara                                                                 
CEO                                                                             

For further information, please contact:                                        
Eero Heliövaara, president and CEO, tel. +358 (0)20 1455 202                    


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Nasdaq OMX Helsinki                                                             
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