SRV’S OPERATING PROFIT GROWS BY 74.9% – INTERIM REPORT 1 JANUARY – 30 JUNE 2008


SRV'S OPERATING PROFIT GROWS BY 74.9% - INTERIM REPORT 1 JANUARY - 30 JUNE 2008 

Reporting period 1 January - 30 June 2008 in brief:                             
- SRV's revenue grew by 10.5 per cent to EUR 288.8 million (EUR 261.3 million in
January - June 2007)                                                            
- Operating profit grew by 74.9 per cent to EUR 18.1 million (EUR 10.3 million) 
- Profit before taxes grew by 68.2 per cent to EUR 15.1 million (EUR 9.0        
million)                                                                        
- The order backlog at the close of the review period was EUR 521.1 million (EUR
517.4 million)                                                                  
- The equity ratio was 44.9 per cent (59.4%)                                    
- Earnings per share were EUR 0.28 (EUR 0.25)                                   
- SRV changes the full-year outlook regarding revenue. Due to uncertainties     
concerning housing sales, revenue in 2008 is expected to remain on the 2007     
level                                                                           
- SRV adjusts the full-year outlook regarding operating profit. The group's     
operating profit is anticipated to outperform 2007 by a substantial margin, and 
the Q2 2008 operating profit is expected to surpass the Q1 2008 operating profit


Second quarter 1 April - 30 June 2008 in brief:                                 
- Revenue amounted to EUR 142.4 million (EUR 140.0 million in April-June 2007)  
- Operating profit was EUR 9.2 million (EUR 6.8 million)                        
- Profit before taxes was EUR 6.8 million (EUR 6.0 million)                     
- Earnings per share were EUR 0.12 (EUR 0.18)                                   

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

”The trend in SRV's operations remained favourable. The Group posted substantial
growth in revenue and operating profit. The profit margin of projects has       
improved. In St Petersburg, we have acquired two major development projects,    
including land, to enhance the international operations in line with the        
strategy. The sale of the hotel in Ekaterinburg, which was concluded in July,   
will raise SRV's operating profit substantially in the latter part of the year. 
It will also release equity for the development of Russian operations.          

Even though the growth prospects of the Finnish national economy have weakened, 
the outlook for SRV Business Premises is favourable. The contract to build the  
Helsinki Music Centre shows the competence of the SRV approach in demanding     
projects. The demand for housing has declined and sales are focused on units    
that are close to completion, weakening the profit forecast for the Housing     
business area. However, demand for housing construction will continue in the    
growth centres, providing a solid base for growth for SRV in the long term. The 
company's strong balance sheet and good solvency will enable SRV to tap its     
innovative property development know-how in years to come.                      

In 2008, the group's revenue is expected to remain on the 2007 level. The       
group's operating profit is anticipated to outperform 2007 by a substantial     
margin, and the Q2 2008 operating profit is expected to surpass the Q1 2008     
operating profit,” says Eero Heliövaara, president and CEO of SRV.              

In the review period, the SRV Group's revenue grew by 10.5 per cent to EUR 288.8
million (EUR 261.3 million in January-June 2007). The share of revenue generated
in Finland was 90 per cent (90%), whereas 10 per cent (10%) came from Russia and
the Baltic countries. Revenue in the Business Premises business area grew to EUR
197.0 million (EUR 151.6 million). Revenue in the Housing business area declined
to EUR 63.1 million (EUR 84.0 million). Revenue in the International Operations 
business area grew to EUR 28.8 million (EUR 25.9 million).                      

SRV Group's operating profit for the review period was EUR 18.1 million (EUR    
10.3 million in January-June 2007). The operating profit margin was 6.3 per cent
(4.0%). Operating profit in Business Premises grew to EUR 18.1 million (EUR 6.5 
million). Operating profit in the International business area was EUR 1.1       
million (EUR 0.9 million). Operating profit in the Housing business area        
declined to EUR 1.3 million (EUR 4.8 million) as housing sales slackened.       

SRV Group's profit before taxes for the review period was EUR 15.1 million (EUR 
9.0 million in January-June 2007). The profit for the review period was EUR 10.4
million (EUR 6.6 million). Earnings per share were EUR 0.28 (0.25). The increase
in the number of shares is due to the share issues and structural changes in    
2007. Return on equity was 13.0 per cent (11.0%) and return on investment 16.9  
per cent (11.6%).                                                               

SRV Group's revenue for the second quarter was EUR 142.4 million (EUR 140.0     
million in April-June 2007) and operating profit EUR 9.2 million (EUR 6.8       
million). Profit before taxes was EUR 6.8 million (EUR 6.0 million). Earnings   
per share amounted to EUR 0.12 (EUR 0.18). The increase in the number of shares 
is due to the share issues and structural changes in 2007.                      

The order backlog was EUR 521.1 million on 30 June 2008 (EUR 517.4 million on 30
June 2007). At the end of 2007 the order backlog was EUR 528.7 million.         

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| Group key figures  | IFRS | IFRS |       |       | IFRS | IFRS  |  IFRS  |   |
--------------------------------------------------------------------------------
|   (EUR million)    | 1-6/ | 1-6/ | chang | chang | 4-6/ | 4-6/  | 1-12/  |   |
|                    | 2008 | 2007 |  e,   |  e,%  | 2008 | 2007  |  2007  |   |
|                    |      |      | MEUR  |       |      |       |        |   |
--------------------------------------------------------------------------------
| Revenue            | 288. | 261. |  27.5 |  10.5 | 142. | 140.0 |  561.4 |   |
|                    |    8 |    3 |       |       |    4 |       |        |   |
--------------------------------------------------------------------------------
| Operating profit   | 18.1 | 10.3 |   7.7 |  74.9 |  9.2 |   6.8 |   15.1 |   |
--------------------------------------------------------------------------------
| Financial income   | -3.0 | -1.4 |  -1.6 | 118.5 | -2.4 |  -0.8 |   -3.5 |   |
| and expenses,      |      |      |       |       |      |       |        |   |
| total              |      |      |       |       |      |       |        |   |
--------------------------------------------------------------------------------
| Profit before      | 15.1 |  9.0 |   6.1 |  68.2 |  6.8 |   6.0 |   11.5 |   |
| taxes              |      |      |       |       |      |       |        |   |
--------------------------------------------------------------------------------
| Net profit for the | 10.4 |  6.6 |   3.8 |  57.9 |  4.5 |   5.3 |    7.6 |   |
| period             |      |      |       |       |      |       |        |   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog      | 521. | 517. |   3.6 |   0.7 |      |       |  528.7 |   |
|                    |    1 |    4 |       |       |      |       |        |   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit,  |  6.3 |  4.0 |       |       |  6.4 |   4.8 |    2.7 |   |
| %                  |      |      |       |       |      |       |        |   |
--------------------------------------------------------------------------------
| Net profit, %      |  3.6 |  2.5 |       |       |  3.2 |   3.8 |    1.4 |   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity ratio, %    | 44.9 | 59.4 |       |       |      |       |   55.4 |   |
--------------------------------------------------------------------------------
| Net interest       | 122. | -10. |       |       |      |       |   43.2 |   |
| bearing debt       |    4 |    4 |       |       |      |       |        |   |
--------------------------------------------------------------------------------
| Gearing, %         | 74.8 | -5.8 |       |       |      |       |   27.3 |   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Return on          | 16.9 | 11.6 |       |       |      |       |    9.7 |   |
| investment, % 1)   |      |      |       |       |      |       |        |   |
--------------------------------------------------------------------------------
| Return on equity,  | 13.0 | 11.0 |       |       |      |       |    6.9 |   |
| % 1)               |      |      |       |       |      |       |        |   |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per       | 0.28 | 0.25 |       |       | 0.12 |  0.18 |   0.22 |   |
| share, EUR 2)      |      |      |       |       |      |       |        |   |
--------------------------------------------------------------------------------
| Equity per share,  | 4.40 | 4.46 |       |  -1.5 |      |       |   4.22 |   |
| EUR 2)             |      |      |       |       |      |       |        |   |
--------------------------------------------------------------------------------
| Weighted average   | 36.7 | 27.4 |       |  33.7 | 36.6 |  28.8 |   32.7 |   |
| number of shares   |      |      |       |       |      |       |        |   |
| outstanding        |      |      |       |       |      |       |        |   |
--------------------------------------------------------------------------------
| 1) In calculating the key ratio only the profit for the period has been      |
| annualised.                                                                  |
| 2) Key figures per share have been adjusted to reflect the increase in the   |
| number of shares, which came into effect on 11 April 2007 (split), the       |
| rights issue on 11 June 2007 and the rights issue and cancellation of        |
| treasury shares in connection with the merger of SRV Henkilöstö Oy on 28     |
| September 2007 and purchases of own shares.                                  |
--------------------------------------------------------------------------------


Outlook for construction                                                        

As the US economy decelerates sharply, the growth of the global economy is      
expected to slow down. Uncertainties concerning the prolonged credit crisis in  
the US, inflation and exchange rates hamper the assessment of the construction  
market outlook.                                                                 

Finland's economic growth is expected to settle at 2.3 per cent during the      
present year. The US-led financial market turmoil increases uncertainties in the
real estate market.                                                             

The residential market in Finland slowed down in the first part of the year and 
the volume decreased. Residences stay on the market for a significantly longer  
time before being sold. The demand focuses on completed units. The number of    
residential start-ups has decreased. According to longer-term forecasts, the    
need for new housing will remain at about 30,000 units per year until 2020.     

Construction of business premises and offices is expected to remain at the      
current level this year. The completion of the Vuosaari harbour will support    
logistics and warehouse construction in the Helsinki metropolitan area.         

The total number of construction permits has decreased from the record level of 
2007. The number of construction permits for industrial buildings and warehouses
has stayed approximately unchanged. Construction costs have risen significantly 
faster than the general trend in costs since 2003. According to Statistics      
Finland, construction costs rose by 4.5 per cent from June 2007 to June 2008.   
The cost increase in 2007 was 5.6 per cent. Availability of subcontracting and  
materials has developed favourably.                                             

The economic situation in the Baltic countries has deteriorated quickly. The    
housing market has clearly cooled down and private consumption is adapting to   
the slower growth pace. Due to the fast pace of growth in recent years and the  
small size of the market, the assessment of the outlook for economic growth in  
the Baltic countries involves uncertainties.                                    

The Russian economy grew at a rate of 8.1 per cent in 2007 and a growth pace of 
7.6 per cent is forecast for 2008. Construction has surged, up a whopping 28 per
cent in the first quarter of 2008. Demand is strong in both residential and     
business premise construction. The outlook for the Russian warehouse and        
logistics market is bright as well. However, inflation in Russia has picked up  
on the heels of strong economic growth.                                         

Key figures for the Segments                                                    

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|                   | IFRS  | IFRS  |       |       |  IFRS  |  IFRS  |  IFRS  |
--------------------------------------------------------------------------------
| Revenue           | 1-6/  | 1-6/  | chang | chang |  4-6/  |  4-6/  | 1-12/  |
| (EUR million)     | 2008  | 2007  |  e,   |  e,%  |  2008  |  2007  |  2007  |
|                   |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Business Premises | 197.0 | 151.6 |  45.4 |  29.9 |   92.2 |   82.2 |  345.4 |
--------------------------------------------------------------------------------
| Housing           |  63.1 |  84.0 | -20.9 | -24.9 |   37.1 |   43.9 |  163.1 |
--------------------------------------------------------------------------------
| International     |  28.8 |  25.9 |   2.9 |  11.3 |   13.1 |   14.0 |   53.2 |
--------------------------------------------------------------------------------
| Other Operations  |   5.7 |   6.0 |  -0.2 |  -3.8 |    2.8 |    4.0 |   11.2 |
--------------------------------------------------------------------------------
| Eliminations      |  -5.8 |  -6.1 |   0.4 |       |   -2.9 |   -4.2 |  -11.4 |
--------------------------------------------------------------------------------
| Group, total      | 288.8 | 261.3 |  27.5 |  10.5 |  142.4 |  140.0 |  561.4 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
|                   | IFRS  | IFRS  |       |       |  IFRS  |  IFRS  |  IFRS  |
--------------------------------------------------------------------------------
| Operating profit  | 1-6/  | 1-6/  | chang | chang |  4-6/  |  4-6/  | 1-12/  |
| (EUR million)     | 2008  | 2007  |  e,   |  e,%  |  2008  |  2007  |  2007  |
|                   |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Business Premises |  18.1 |   6.5 |  11.6 | 177.8 |    9.9 |    3.6 |   18.0 |
--------------------------------------------------------------------------------
| Housing           |   1.3 |   4.8 |  -3.5 | -72.2 |    0.9 |    2.9 |   10.7 |
--------------------------------------------------------------------------------
| International     |   1.1 |   0.9 |   0.3 |  30.9 |   -0.1 |    1.8 |  -10.2 |
--------------------------------------------------------------------------------
| Other Operations  |  -2.5 |  -1.5 |  -1.0 |       |   -1.6 |   -1.1 |   -3.1 |
--------------------------------------------------------------------------------
| Eliminations      |   0.0 |  -0.4 |   0.4 |       |    0.0 |   -0.4 |   -0.4 |
--------------------------------------------------------------------------------
| Group, total      |  18.1 |  10.3 |   7.7 |  74.9 |    9.2 |    6.8 |   15.1 |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Operating profit    |   IFRS   |   IFRS   |   IFRS   |   IFRS   |    IFRS    |
--------------------------------------------------------------------------------
| (%)                 | 1-6/2008 | 1-6/2007 | 4-6/2008 | 4-6/2007 | 1-12/2007  |
--------------------------------------------------------------------------------
| Business Premises   |      9.2 |      4.3 |     10.8 |      4.4 |        5.2 |
--------------------------------------------------------------------------------
| Housing             |      2.1 |      5.7 |      2.5 |      6.5 |        6.5 |
--------------------------------------------------------------------------------
| International       |      3.9 |      3.3 |     -0.9 |     12.7 |      -19.2 |
--------------------------------------------------------------------------------
| Group, total        |      6.3 |      4.0 |      6.4 |      4.8 |        2.7 |
--------------------------------------------------------------------------------

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| Order backlog       |   IFRS   |   IFRS   | change,  | change,  |    IFRS    |
--------------------------------------------------------------------------------
| (EUR million)       | 30.6.08  | 30.6.07  |   MEUR   |    %     |  31.12.07  |
--------------------------------------------------------------------------------
| Business Premises   |    291.1 |    323.4 |    -32.3 |    -10.0 |      302.8 |
--------------------------------------------------------------------------------
| Housing             |    186.8 |    129.7 |     57.1 |     44.0 |      174.6 |
--------------------------------------------------------------------------------
| International       |     43.2 |     64.4 |    -21.2 |    -32.9 |       51.3 |
--------------------------------------------------------------------------------
| Group, total        |    521.1 |    517.4 |      3.6 |      0.7 |      528.7 |
--------------------------------------------------------------------------------


Earnings trends of the Segments                                                 

--------------------------------------------------------------------------------
| Business Premises | IFRS  | IFRS  |       |       |  IFRS  |  IFRS  |  IFRS  |
|                   |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
|  (EUR million)    | 1-6/  | 1-6/  | chang | chang |  4-6/  |  4-6/  | 1-12/  |
|                   | 2008  | 2007  |  e,   |  e,%  |  2008  |  2007  |  2007  |
|                   |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Revenue           | 197.0 | 151.6 |  45.4 |  29.9 |   92.2 |   82.2 |  345.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit  |  18.1 |   6.5 |  11.6 | 177.8 |    9.9 |    3.6 |   18.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog     | 291.1 | 323.4 | -32.3 | -10.0 |        |        |  302.8 |
--------------------------------------------------------------------------------

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

Revenue in the Business Premises business area grew by 29.9 per cent in the     
review period, amounting to EUR 197.0 million (EUR 151.6 million). Operating    
profit was EUR 18.1 million (EUR 6.5 million). The volume of the order backlog  
and profit margin contributed favourably to the level of revenue and operating  
profit. The order backlog was EUR 291.1 million (EUR 323.4 million).            

Among the projects completed in the financial period were new headquarters for  
Neste Oil and the third office building for the Neste Pension Fund in the       
Keilaniemi district of Espoo, the first phase of the TRIO shopping centre in    
Lahti, commercial and production premises for the Etola Group in King's Gate in 
Porvoo, alteration and extension works for Rolac in Vantaa, a logistics centre  
for Itella in the Voutila district in Vantaa, the Biomedicum II project in      
Helsinki for the Hospital District of Helsinki and Uusimaa, the Plantagen garden
store in the Suomenoja district of Espoo as well as various rock construction   
projects.                                                                       

In early 2008 the second phase of TRIO in Lahti and the preconstruction of L&T  
Kerca in Kerava were started up. Senate Properties chose SRV as its project     
management contractor in the construction and renovation of Svenska Social &    
Kommunal Högskolan of the University of Helsinki. Construction got under way on 
the Plantagen garden store and the retail centre of the northern wing in King's 
Gate in Porvoo, a car store for Autosalpa in Lahti and a logistics warehouse for
Codel in Vantaa.                                                                

SRV and Kiinteistöosakeyhtiö Helsingin Musiikkitalo signed a contract for the   
construction of the Helsinki Music Centre. The main contract is valued at EUR   
90.5 million. The total cost of the Helsinki Music Centre is estimated at EUR   
140 million, and it is scheduled to be completed at the end of April 2011.      

In March 2008, the Keravanportti property was sold to the real-estate investment
trust REFF I Ky, which is managed by Pohjola Kiinteistösijoitus Oy, a property  
investment company. SRV is constructing two retail buildings in Keravanportti.  

On 6 March 2008, the Helsinki Court of Appeal announced its decision on the     
dispute between SRV Business Premises Ltd and F-Secure Corporation. The dispute 
was about interior works done during the construction and whether they are      
covered by the original rental agreement. The Court of Appeal did not revise the
decision of the Helsinki District Court, which stated that the construction work
is not covered by the original rental agreement. According to the Court's       
decision, F-Secure was sentenced to pay the additional work costs, and the costs
of the trial plus interest. The financial impact pursuant to the decision on    
SRV's operating profit was about EUR 0.7 million and about EUR 1.2 million on   
profit before taxes. F-Secure has appealed permission for appeal.               


--------------------------------------------------------------------------------
| Housing           | IFRS  | IFRS  |       |       |  IFRS  |  IFRS  |  IFRS  |
|                   |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
|  (EUR million)    | 1-6/  | 1-6/  | chang | chang |  4-6/  |  4-6/  | 1-12/  |
|                   | 2008  | 2007  |  e,   |  e,%  |  2008  |  2007  |  2007  |
|                   |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Revenue           |  63.1 |  84.0 | -20.9 | -24.9 |   37.1 |   43.9 |  163.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit  |   1.3 |   4.8 |  -3.5 | -72.2 |    0.9 |    2.9 |   10.7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog     | 186.8 | 129.7 |  57.1 |  44.0 |        |        |  174.6 |
--------------------------------------------------------------------------------

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. The regional subsidiaries are engaged in housing, 
commercial, business premises and logistics construction projects.              

Revenue in the Housing business area amounted to EUR 63.1 million (EUR 84.0     
million) and operating profit was EUR 1.3 million (EUR 4.8 million). The decline
in both revenue and operating profit was attributable to the slowdown in housing
sales. The housing sales picked up during the second quarter of the year        
increasing the revenue and operating profit compared with the first quarter.    
The order backlog was EUR 186.8 million (EUR 129.7 million).                    

Besides housing production, resources were allocated to contracting and during  
the review period contracts worth EUR 56.2 million were concluded with external 
clients. Of these, the most important in the Helsinki metropolitan area were a  
58-unit apartment building for HOAS (Foundation for Student Housing in the      
Helsinki Region) in Viikki and the renovation of a 62-unit apartment building   
for KY Kiinteistö Oy in the Töölö district of Helsinki. Other contracts that    
were concluded included the renovation of an ice stadium for the City of        
Jyväskylä, the extension of a dairy for Valio Oy and the construction of        
Tietotie upper secondary school for the City of Valkeakoski.                    

During the review period, the construction of 61 (177) developer contracting    
housing units was started and a total of 96 (186) developer contracting housing 
units were sold. Sales focused on units that were completed or close to         
completion. Sales of residences picked up during the second quarter. At the end 
of the period, 247 (593) residential units were under construction. There were  
128 (30) completed but unsold residential units. A total of 229 (132)           
residential units were completed during the review period. Start-ups of new     
developer contracting housing projects will be adjusted to the market situation.


--------------------------------------------------------------------------------
| Residential          |  1-6/  |  1-6/  | change |  4-6/  |  4-6/   |  1-12/  |
| production           |  2008  |  2007  |   ,    |  2008  |  2007   |  2007   |
| in Finland (units)   |        |        | units  |        |         |         |
--------------------------------------------------------------------------------
| Start-ups            |     61 |    177 |   -116 |     53 |      77 |     363 |
--------------------------------------------------------------------------------
| Sold                 |     96 |    186 |    -90 |     63 |      83 |     288 |
--------------------------------------------------------------------------------
| Completed            |    229 |    132 |     97 |    104 |      51 |     519 |
--------------------------------------------------------------------------------
| Completed and unsold |    128 |     30 |    102 |        |         |      80 |
| 1)                   |        |        |        |        |         |         |
--------------------------------------------------------------------------------
| Under construction   |    247 |    593 |   -346 |        |         |     415 |
| 1)                   |        |        |        |        |         |         |
--------------------------------------------------------------------------------
1) at the end of the period                                                     

Major projects under construction included the Helsingin Oscar condominium,     
where 65 units will be completed, Vallikallion Helmi in Espoo (67 units) and    
Ulriikanhuippu in Vantaa (46 units), which will be realised jointly with        
Asuntosäätiö (Housing Foundation).                                              

SRV continued its participation in the 24Living development project, which is   
being partly funded by TEKES (the Finnish Funding Agency for Technology and     
Innovation). Started in 2006, the 3-year project is headed by the University of 
Art and Design in Helsinki, in cooperation with Finpro, the Massachusetts       
Institute of Technology (MIT) and TEKES, with a number of Finnish companies also
participating.                                                                  


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|                   | IFRS  | IFRS  |       |       |  IFRS  |  IFRS  |  IFRS  |
--------------------------------------------------------------------------------
| International     | 1-6/  | 1-6/  | chang | chang |  4-6/  |  4-6/  | 1-12/  |
| Operations        | 2008  | 2007  |  e,   |  e,%  |  2008  |  2007  |  2007  |
| (EUR million)     |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Revenue           |  28.8 |  25.9 |   2.9 |  11.3 |   13.1 |   14.0 |   53.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit  |   1.1 |   0.9 |   0.3 |  30.9 |   -0.1 |    1.8 |  -10.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog     |  43.2 |  64.4 | -21.2 | -32.9 |        |        |   51.3 |
--------------------------------------------------------------------------------

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

International Operations increased its revenue by 11.3 per cent to EUR 28.8     
million (EUR 25.9 million). Operating profit was EUR 1.1 million (EUR 0.9       
million). The order backlog was EUR 43.2 million (EUR 64.4 million). The loss   
during the second quarter was attributable to costs and investments related to  
projects in Russia, the slowing down of activities in Estonia and cost overruns 
on a project that was completed during the review period.                       

Russia                                                                          

The renovation works of the Pulkovskaya and Pribaltiskaya hotels operated by the
Rezidor Group in St Petersburg were completed in April. In June, SRV signed     
contracts valued at around EUR 15 million for further renovation works at the   
hotels. Ahlström's glass fibre plant was completed in March.                    

The construction of the Etmia II office and parking facility in the heart of    
Moscow continued. Tenant acquisition commenced during the period. The project is
estimated to be completed by the end of 2008. SRV's role in the project is to   
act as the project management contractor and as a co-owner with a 50 per cent   
stake. SRV's objective is to sell the project to investors after completion.    

Construction of the Papula residential area in the city of Vyborg continued. In 
the first phase, 38 units are to be built, and they are slated for completion by
the end of 2008. Seven of the project's units have been sold.                   

The development of the Eurograd logistics area in St Petersburg continued during
the review period. On 11 February 2008, SRV acquired a 32 per cent share in the 
Russian enterprise OOO ”Olgino-4”, which owns a land plot of 24.9 hectares      
located north of St Petersburg, in the close vicinity of the Ring Road. SRV     
raised its ownership in the enterprise to 49 per cent and will acquire the      
majority stockholding by summer 2008. Over 100,000 square metres of logistics   
facilities are planned for the site in several stages during the next few years.
SRV intends to commence the construction of the first stage by the end of 2008. 

In the review period SRV continued the design, the preparations for construction
and the search for tenants of the Mytichi shopping centre project developed by  
SRV that will be realised in the Moscow area. The ensemble will have about      
120,000 square metres of floor area. The majority owner of the project is the   
Finnish real estate investment company Vicus with a 75 per cent stake. The final
investment decision will be made by the end of this year. In July, SRV signed a 
project management contract valued at EUR 107 million for the planning and      
construction of the project with the project company. The contract is not       
included in the order backlog until the final investment decision is made. The  
preparations for construction have started in accordance with the project       
management contract. Negotiations with the anchor tenants are under way. The aim
is to finalise the negotiations by the end of the year. SRV owns 25 per cent of 
the project and has invested around EUR 4.6 million in it.                      

SRV concluded a contract with the International Banking Institute (IBI), St     
Petersburg, and a local partner concerning the development of an 8.5 hectare    
land area in St Petersburg. SRV is developing zoning for the area. The plans    
include construction of office and retail space, as well as hotel, restaurant   
and entertainment premises. Moreover, facilities will be built for the IBI      
university. SRV signed a contract with the British firm Locum Consulting for the
commercial concepts of the project. The aim is to start up development and      
construction during 2009. SRV has established a development company named OOO   
IBI Invest to implement the project, and acquired a land area for said company. 
SRV has invested about EUR 50 million into land and properties as at 30 June    
2008. SRV's further investment is estimated at EUR 10-15 million. SRV's         
ownership is estimated to be 77.5 per cent of the project when IBI Invest has   
acquired all the land areas included in the cooperation contract. SRV's partner 
and the future minority shareholder of the joint venture is Mr. Boris           
Kholmyansky through the companies that he owns. Mr. Kholmyansky is the main     
owner and chairman of the board of the St Petersburg-based company NPO Znamia   
Truda.                                                                          

During the period, SRV continued negotiations with a Russian banking partner    
with a view to developing property fund cooperation, which would focus on       
development of business premises and on financing construction in Russia. The   
investors would be SRV together with a group of international investors as well 
as a local partner, who would also administer the fund. Should the plan be      
carried out, SRV intends to make a fund investment of around EUR 20 million.    


Baltic countries                                                                

A partnership project with Facio Ehitus continued in Tartu, Estonia. SRV owns a 
plot for 7 high-rise apartment buildings. The construction of one of these      
buildings (42 units) was started in summer 2007. The project will be completed  
during the next quarter. No start-ups of new developer contracting projects are 
planned in the present market situation. One (13) residential unit was sold     
during the period and all in all, 45 (7) were up for sale at the end of the     
period, 4 of which were in already-completed projects (3).The sale of the       
logistics centre that had been leased to Oriola KD in Estonia was completed in  
January 2008. Revenue of EUR 5 million was recorded on the sale. Construction of
a vehicle dealership for Inchcape Motors continued and design work for the      
Mercantile logistics centre is in progress.                                     

The HRX logistics centre was handed over to the client in Latvia in March 2008. 
Mr Guntis Sokolovskis started as head of SRV's Latvian operations and managing  
director of SRV Terbelat SIA on 16 June 2008.                                   


--------------------------------------------------------------------------------
|                   | IFRS  | IFRS  |       |       |  IFRS  |  IFRS  |  IFRS  |
--------------------------------------------------------------------------------
| Other Operations  | 1-6/  | 1-6/  | chang | chang |  4-6/  |  4-6/  | 1-12/  |
| (EUR million)     | 2008  | 2007  |  e,   |  e,%  |  2008  |  2007  |  2007  |
|                   |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Revenue           |   5.7 |   6.0 |  -0.2 |  -3.8 |    2.8 |    4.0 |   11.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit  |  -2.5 |  -1.5 |  -1.0 |       |   -1.6 |   -1.1 |   -3.1 |
--------------------------------------------------------------------------------

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

Operating loss of Other Operations during the review period was EUR 2.5 million 
(EUR 1.5 million).                                                              

Financing and financial position                                                

The Group's interest-bearing liabilities were EUR 132.5 million at 30 June 2008 
(EUR 59.9 million). Net financial expenses were EUR 3.0 million (EUR 1.4        
million). The Group's liquid assets at the end of the review period amounted to 
EUR 10.1 million (EUR 70.3 million). Liquid assets in the reference period were 
increased by the share issue in June 2007.                                      

The return on investment was 16.9 per cent (11.6%) and the return on equity 13.0
per cent (11.0%). The equity ratio was 44.9 per cent (59.4%).                   

Investments                                                                     

The Group's investments totalled EUR 21.6 million (EUR 2.1 million), of which   
EUR 18.2 million were investments related to buildings in the IBI project.      

Unbuilt land areas, land acquisition commitments and land development agreements

--------------------------------------------------------------------------------
| Land reserve      |  Business   |    Housing    | International |   Total    |
|  30               | Operations  |               |  Operations   |            |
| June 2008         |             |               |               |            |
--------------------------------------------------------------------------------
| Unbuilt land areas and land acquisition commitments                          |
--------------------------------------------------------------------------------
| Building rights*, |     138,000 |       220,000 |       759,000 |  1,117,000 |
| m2                |             |               |               |            |
--------------------------------------------------------------------------------
| Capital invested  |          23 |            49 |            81 |        152 |
| incl.             |             |               |               |            |
| commitments, EUR  |             |               |               |            |
| million           |             |               |               |            |
--------------------------------------------------------------------------------
| Land development  |             |               |               |            |
| agreements        |             |               |               |            |
--------------------------------------------------------------------------------
| Building rights*, |     411,000 |       220,000 |       100,000 |    731,000 |
| 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 January, SRV signed a preliminary property purchase agreement for the old    
Government Building designed by Alvar Aalto, and the adjacent plot, on which a  
new building of 12,000 square metres of floor area is being developed. The      
listed Government Building will partly be returned to its original use. During  
the review period SRV bought 14,700 square metres of floor area in residential  
building rights in the Saunalahdenranta district of Espoo. Single-family,       
terraced and semidetached houses will be built in the area. In the Aviapolis    
business district in the Viinikkala logistics area in Vantaa, SRV bought a 4.5  
hectare piece of land, where it plans to build logistics facilities measuring   
around 26,000 square metres of floor area.                                      

In June, SRV concluded a preliminary property purchase agreement for the roughly
4.5 hectare land area in the Vantaankoski district of Vantaa. The land area     
borders the 6.3 hectare property SRV purchased earlier in the area.             

On 14 January 2008, Espoo City Board accepted SRV's planning reservation        
application for housing towers above Karhusaarentie road. The plan includes four
27-28 storey buildings and an underground car park on four levels. According to 
initial plans, the area includes about 50,000 square metres of residential      
building volume, and the total number of apartments would be around 370. The    
project would be connected with the implementation of the Keilaniemi metro      
station. Plans include a deck that would span over Karhusaarentie road,         
connecting the residential site to Tapiola and thereby adding to its supply of  
high-quality housing.                                                           

New names for SRV's subsidiaries as part of renewed brand                       

As part of SRV's renewed brand the company renamed its subsidiaries. The name of
SRV Viitoset, which specialises in business premises, was changed to SRV        
Business Premises Ltd as of 1 March 2008. The name of SRV Westerlund, which     
operates in residential construction, was changed to SRV Housing Ltd. The       
renewed brand will bring the Group's business areas more clearly under one SRV  
brand.                                                                          

Changes in Group structure                                                      

SRV Group Plc acquired 100 per cent ownership of SRV Keski-Suomi Oy in April    
2008 and Rkl Erkki Huhdanpää Oy in June 2008. In order to strengthen the        
business structure and operations, SRV started the procedure to merge SRV       
Kaakkois-Suomi Oy, SRV Keski-Suomi Oy, SRV Lounais-Suomi Oy and Rkl Erkki       
Huhdanpää Oy into SRV Housing Ltd at the end of June 2008. The merging regional 
companies will continue their operations under the brands SRV Kaakkois-Suomi,   
SRV Keski-Suomi, SRV Lounais-Suomi and SRV Pirkanmaa.                           

Changes in Group management                                                     

Director Veli-Matti Kullas, who is in charge of SRV's operations in Russia, was 
nominated member of SRV's Corporate Executive Team on 12 February 2008. Katri   
Innanen, LL.M, was appointed Chief Legal Counsel and member of the Corporate    
Executive Team of SRV Group, when the current Chief Legal Counsel, Marja Sarnela
retires. Mrs Innanen will start in her new position by the end of September     
2008. Valtteri Palin, M.Sc. (Econ.), was appointed Senior Vice President,       
Financial Administration, and member of the Corporate Executive Team of SRV     
Group Plc as from 1 August 2008.                                                

Personnel                                                                       

SRV had an average payroll of 836 (744) employees, of whom 596 (518) were       
white-collar. The parent company had an average staff of 64 (61) white-collar   
employees. At the close of the review period, the Group had 961 (844) employees,
of whom 68 (64) were employed by the parent company. An average of 13.4 per cent
(8.3%) of the employees work at subsidiaries and representative offices abroad. 

SRV is developing its cooperation with universities and colleges as part of its 
effort to cover staffing needs for recruitment and the holiday seasons. At the  
end of the review period, SRV had a total of 127 (119) 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 June   |   30 June   |  Share of Group  |
|                               |    2008     |    2007     |  personnel, 30   |
|                               |             |             |   June 2008, %   |
--------------------------------------------------------------------------------
| Business Premises             |         351 |         323 |             36.5 |
--------------------------------------------------------------------------------
| Housing                       |         325 |         326 |             33.8 |
--------------------------------------------------------------------------------
| International                 |         187 |         103 |             19.5 |
--------------------------------------------------------------------------------
| Other Operations              |          98 |          92 |             10.2 |
--------------------------------------------------------------------------------
| Group, total                  |         961 |         844 |            100.0 |
--------------------------------------------------------------------------------


On 11 February 2008, the Board of Directors of SRV Group Plc approved a new     
share-based incentive plan for the Group's key personnel. The Plan includes     
three earning periods - the calendar years 2008, 2009 and 2010. The potential   
reward from the Plan for earning period 2008 will be based on the Group's profit
before taxes. The potential reward from earning period 2008 will be paid in     
2009, partly as shares in the company and partly as cash. The proportion to be  
paid in cash will cover taxes and tax-related costs arising from the reward. The
shares may not be transferred during the two-year restriction period. If a key  
person's employment or service ends during said restriction period, he/she must 
return the shares rewarded under the Plan to the company without compensation.  
Approximately 60 people are covered by the Plan during earning period 2008. The 
rewards to be paid for earning period 2008 correspond to the approximate value  
of a total maximum of 450,000 SRV Group Plc shares (also including the          
proportion to be paid in cash).                                                 

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 actual cash flow from  
operating activities and financing costs. General economic situation has        
weakened and interest level has gone up.                                        

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 also depends on the  
percentage of sold premises in projects. Housing sales have slowed down in      
Finland and in Estonia, in particular.                                          

Construction is subject to significant risks relating to subcontracting and     
deliveries, and their control underlines the need for long-term planning. The   
project management contracting model requires skilled and competent personnel.  
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, financing, commercialisation of projects,  
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 financial risks related to the SRV Group's business are interest rate,      
foreign exchange, liquidity and counterparty risks, which have been presented in
the Notes to the 2007 Financial Statements.                                     

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. The Group's president  
and CEO has overall responsibility for risk management. 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 2007 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 14 April 2008. The AGM adopted the       
financial statements for 2007 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.                                                             

Mr Ilpo Kokkila was elected chairman of the Board of Directors and Mr Jukka     
Hienonen, Mr Lasse Kurkilahti, Mr Matti Mustaniemi and Mr Markku Sarkamies were 
elected to seats on the Board. In its organisational meeting on 14 April 2008   
the Board of Directors elected Lasse Kurkilahti vice chairman of the Board.     
Matti Mustaniemi was elected chairman and Markku Sarkamies member of the Audit  
Committee. Ilpo Kokkila was elected chairman and Jukka Hienonen and Lasse       
Kurkilahti members of the Nomination and Remuneration Committee.                

Mr Jarmo Lohi, Authorised Public Accountant, was elected as the company's       
auditor, and the firm of public accountants Ernst & Young Oy was elected deputy 
auditor, with Mr Mikko Rytilahti, Authorised Public Accountant, acting as       
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 18  
months from the decision of the Meeting.                                        

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's shares were admitted to public trading on the OMX Nordic Exchange 
Helsinki Pre List on 12 June 2007 and on the Main List on 15 June 2007. SRV had 
a total of 6,017 shareholders at 30 June 2008. SRV did not receive any flagging 
notifications during the reporting period.                                      

The closing rate at the end of the review period was EUR 5.28 (5.02 on 31       
December 2007). The highest share price in the review period was EUR 6.60 and   
the lowest was EUR 4.67. The change in the all-share index of the Helsinki Stock
Exchange (OMX Helsinki) during the same period was 26.1 per cent negative and   
the OMX Industrial and Services index 16.3 per cent negative.                   

At the end of the review period, the company had a market capitalisation of EUR 
193.1 million, excluding the Group's own shares. About 9.3 million shares were  
traded on the Helsinki Stock Exchange in the review period and the trade volume 
was EUR 51.3 million.                                                           

At the end of the review period, SRV Group Plc's subsidiary SRV Kalusto Oy had  
150,241 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 
May 2008, SRV Group Plc's Board of Directors decided to use the authorisation to
acquire the company's own shares. Share acquisition started on 9 June 2008. On  
30 June 2008, SRV Group Plc and SRV Kalusto Oy had a total of 193,241 of SRV    
Group Plc's shares, representing 0.5 per cent of the total number of the        
company's shares and combined number of votes. On 18 August 2008, the Group had 
a total of 259,500 shares (0.7 per cent of the total number of the company's    
shares and combined number of votes).                                           

Financial targets                                                               

In the medium term SRV aims to achieve annual average growth of approximately 15
per cent in Group revenue and annual average growth of 30 percent 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.              

Events after the end of the reporting period                                    

In July, SRV signed a contract for the sale of shares in ZAO Nordrus Hotel with 
Wenaas Hotel Russia A/S, which belongs to the Norwegian Wenaas Group. ZAO       
Nordrus Hotel owns the 160-room Park Inn hotel in Ekaterinburg, Russia. The     
selling price of the shares was EUR 22.5 million. The transaction requires the  
consent of the Russian competition authorities, which is expected during        
September/October. The transaction will generate operating profit of about EUR  
13 million.                                                                     

In July, SRV signed a project management contract valued at EUR 107 million for 
the planning and construction of the Mytichi shopping centre project with the   
project company. The majority owner of the project is the Finnish real estate   
investment company Vicus with a 75 per cent stake. The final investment decision
will be made by the end of this year. The contract is not included in the order 
backlog until the final investment decision is made.                            


Outlook for 2008                                                                

Construction of business premises is estimated to remain at its present level   
this year. Selling times of residences have lengthened in Finland, demand has   
decreased and the demand is estimated to focus on projects that are close to    
completion. Russia's strong economic growth is set to support the development of
International Operations.                                                       

The volume and nature of the order backlog support the level of revenue and     
earnings in 2008 and provide a favourable basis for the operating profit trend. 
The sale of the Park Inn hotel in Ekaterinburg is estimated to bring in         
operating profit of EUR 13 million in the latter part of the year.              


Due to uncertainties concerning housing sales, revenue in 2008 is expected to   
remain on the 2007 level.                                                       
                                                                                
The group's operating profit is anticipated to outperform 2007 by a substantial 
margin, and the Q2 2008 operating profit is expected to surpass the Q1 2008     
operating profit.                                                               


Espoo 19 August 2008                                                            


SRV Group Plc                                                                   
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: OMX Nordic Exchange Helsinki, principal media, www.srv.fi         





Key figures:                                                                    

--------------------------------------------------------------------------------
|                         |         | IFRS |  IFRS  |  IFRS  |  IFRS  |  IFRS  |
--------------------------------------------------------------------------------
|                         |         | 1-6/ |  1-6/  |  4-6/  |  4-6/  | 1-12/  |
|                         |         | 2008 |  2007  |  2008  |  2007  |  2007  |
--------------------------------------------------------------------------------
| Revenue	                |   EUR   | 288. |  261.3 |  142.4 |  140.0 |  561.4 |
|                         | million |    8 |        |        |        |        |
--------------------------------------------------------------------------------
| Operating profit        |   EUR   | 18.1 |   10.3 |    9.2 |    6.8 |   15.1 |
|                         | million |      |        |        |        |        |
--------------------------------------------------------------------------------
| Operating profit, % of  |    %    |  6.3 |    4.0 |    6.4 |    4.8 |    2.7 |
| revenue                 |         |      |        |        |        |        |
--------------------------------------------------------------------------------
| Profit before taxes     |   EUR   | 15.1 |    9.0 |    6.8 |    6.0 |   11.5 |
|                         | million |      |        |        |        |        |
--------------------------------------------------------------------------------
| Profit before taxes, %  |    %    |  5.2 |    3.4 |    4.8 |    4.3 |    2.1 |
| of revenue              |         |      |        |        |        |        |
--------------------------------------------------------------------------------
| Net profit attributable |   EUR   | 10.1 |    6.7 |    4.4 |    4.8 |    7.2 |
| to equity holders of    | million |      |        |        |        |        |
| the parent company      |         |      |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Return on equity 1      |    %    | 13.0 |   11.0 |        |        |    6.9 |
--------------------------------------------------------------------------------
| Return on investment 1  |    %    | 16.9 |   11.6 |        |        |    9.7 |
--------------------------------------------------------------------------------
| Invested capital        |   EUR   | 296. |  238.3 |        |        |  222.9 |
|                         | million |    2 |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity ratio            |    %    | 44.9 |   59.4 |        |        |   55.4 |
--------------------------------------------------------------------------------
| Net interest-bearing    |   EUR   | 122. |  -10.4 |        |        |   43.2 |
| debt                    | million |    4 |        |        |        |        |
--------------------------------------------------------------------------------
| Gearing ratio           |    %    | 74.8 |   -5.8 |        |        |   27.3 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog           |   EUR   | 521. |  517.4 |        |        |  528.7 |
|                         | million |    1 |        |        |        |        |
--------------------------------------------------------------------------------
| Personnel on average    |         |  836 |    744 |        |        |    761 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Property, plant and     |   EUR   | 21.6 |    2.1 |   20.9 |    1.4 |    5.4 |
| equipment investments   | million |      |        |        |        |        |
--------------------------------------------------------------------------------
| Property, plant and     |    %    |  7.5 |    0.8 |   14.7 |    1.0 |    1.0 |
| equipment investments,  |         |      |        |        |        |        |
| % of revenue            |         |      |        |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per share,     |   EUR   | 0.28 |   0.25 |   0.12 |   0.18 |   0.22 |
| share issue adjusted 2  |         |      |        |        |        |        |
--------------------------------------------------------------------------------
| Equity per share, share |   EUR   | 4.40 |   4.46 |   4.40 |   1.53 |   4.22 |
| issue adjusted 2        |         |      |        |        |        |        |
--------------------------------------------------------------------------------
| Dividend per share,     |   EUR   |    - |      - |      - |      - |   0.12 |
| share issue adjusted    |         |      |        |        |        |        |
--------------------------------------------------------------------------------
| Dividend payout ratio   |    %    |    - |      - |      - |      - |   54.6 |
--------------------------------------------------------------------------------
| Dividend yield          |    %    |    - |      - |      - |      - |    2.4 |
--------------------------------------------------------------------------------
| Price per earnings      |         |    - |      - |      - |      - |   22.8 |
| ratio                   |         |      |        |        |        |        |
--------------------------------------------------------------------------------
| Share price development |         |      |        |        |        |        |
--------------------------------------------------------------------------------
| Share price at the end  |   EUR   | 5.28 |  10.10 |      - |      - |   5.02 |
| of the period           |         |      |        |        |        |        |
--------------------------------------------------------------------------------
|    Average share price  |   EUR   | 5.61 |  10.18 |      - |      - |   8.40 |
--------------------------------------------------------------------------------
|    Lowest share price   |   EUR   | 4.67 |   9.80 |      - |      - |   4.72 |
--------------------------------------------------------------------------------
|    Highest share price  |   EUR   | 6.60 |  10.79 |      - |      - |  10.79 |
--------------------------------------------------------------------------------
| Market capitalisation   |   EUR   | 193. |  394.5 |      - |      - |  184.6 |
| at the end of the       | million |    1 |        |        |        |        |
| period                  |         |      |        |        |        |        |
--------------------------------------------------------------------------------
| Trading volume          |  1,000  | 9,32 |  8,581 |      - |      - | 22,514 |
|                         |         |    8 |        |        |        |        |
--------------------------------------------------------------------------------
| Trading volume          |    %    | 25.4 |   31.3 |      - |      - |   68.8 |
--------------------------------------------------------------------------------
| Weighted average number |  1,000  | 36,6 | 27,429 | 36,626 | 28,778 | 32,703 |
| of shares outstanding   |         |   72 |        |        |        |        |
--------------------------------------------------------------------------------
| Number of shares        |  1,000  | 36,5 | 39,064 | 36,575 | 39,064 | 36,768 |
| outstanding at the end  |         |   75 |        |        |        |        |
| of the period           |         |      |        |        |        |        |
--------------------------------------------------------------------------------

In calculating the key ratio only the profit for the period has been annualised 
Key figures per share have been adjusted to reflect the increase in the number  
of shares, which came into effect on 11 April 2007 (split), the rights issue on 
11 June 2007 and the rights issue and cancellation of treasury shares in        
connection with the merger of SRV Henkilöstö Oy on 28 September 2007 and        
purchases of own shares                                                         

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 January  - 30 June 2008: 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) Adoption of new standards as well as changes and interpretations in 2009     
5) Outlook after the reporting period                                           

1. Group financials 1 January - 30 June 2008                                    

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 2007. 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.                                              


--------------------------------------------------------------------------------
| Consolidated      | IFRS  | IFRS  |       |       |  IFRS  |  IFRS  |  IFRS  |
| income statement  |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| (EUR million)     | 1-6/  | 1-6/  | chang | chang |  4-6/  |  4-6/  | 1-12/  |
|                   | 2008  | 2007  |  e,   |  e,%  |  2008  |  2007  |  2007  |
|                   |       |       | MEUR  |       |        |        |        |
--------------------------------------------------------------------------------
| Revenue           | 288.8 | 261.3 |  27.5 |  10.5 |  142.4 |  140.0 |  561.4 |
--------------------------------------------------------------------------------
| Other operating   |   0.6 |   0.6 |   0.0 |   1.4 |    0.2 |    0.3 |    1.1 |
| income            |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Change in         |  13.7 |  10.8 |   2.9 |  26.5 |   12.3 |    3.8 |   18.3 |
| inventories of    |       |       |       |       |        |        |        |
| finished goods    |       |       |       |       |        |        |        |
| and work in       |       |       |       |       |        |        |        |
| progress          |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Use of materials  | -252. | -233. | -19.5 |   8.4 | -128.6 | -121.1 | -509.7 |
| and services      |     5 |     1 |       |       |        |        |        |
--------------------------------------------------------------------------------
| Employee benefit  | -23.8 | -21.7 |  -2.1 |   9.4 |  -12.5 |  -12.2 |  -41.6 |
| expenses          |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Depreciation and  |  -1.4 |  -0.9 |  -0.5 |  59.9 |   -0.8 |   -0.4 |   -1.9 |
| impairments       |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Other operating   |  -7.3 |  -6.8 |  -0.5 |   8.0 |   -3.9 |   -3.6 |  -12.6 |
| expenses          |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Operating profit  |  18.1 |  10.3 |   7.7 |  74.9 |    9.2 |    6.8 |   15.1 |
--------------------------------------------------------------------------------
| Financial income  |   2.9 |   0.8 |   2.2 | 287.4 |    1.7 |    0.2 |    2.6 |
--------------------------------------------------------------------------------
| Financial         |  -5.9 |  -2.1 |  -3.8 | 178.1 |   -4.1 |   -1.0 |   -6.1 |
| expenses          |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Financial income  |  -3.0 |  -1.4 |  -1.6 | 118.5 |   -2.4 |   -0.8 |   -3.5 |
| and expenses,     |       |       |       |       |        |        |        |
| total             |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Profit before     |  15.1 |   9.0 |   6.1 |  68.2 |    6.8 |    6.0 |   11.5 |
| taxes             |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Income taxes      |  -4.6 |  -2.4 |  -2.3 |  96.9 |   -2.2 |   -0.6 |   -3.9 |
--------------------------------------------------------------------------------
| Net profit for    |  10.4 |   6.6 |   3.8 |  57.9 |    4.5 |    5.3 |    7.6 |
| the period        |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Attributable to   |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Equity holders of |  10.1 |   6.7 |       |       |    4.4 |    4.8 |    7.2 |
| the parent        |       |       |       |       |        |        |        |
| company           |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------
| Minority interest |   0.3 |  -0.1 |       |       |    0.2 |    0.5 |    0.5 |
--------------------------------------------------------------------------------
| Earnings per      |  0.28 |  0.25 |       |       |   0.12 |   0.18 |   0.22 |
| share calculated  |       |       |       |       |        |        |        |
| on the profit     |       |       |       |       |        |        |        |
| attributable to   |       |       |       |       |        |        |        |
| equity holders of |       |       |       |       |        |        |        |
| the parent        |       |       |       |       |        |        |        |
| company           |       |       |       |       |        |        |        |
| (undiluted and    |       |       |       |       |        |        |        |
| diluted) 1)       |       |       |       |       |        |        |        |
--------------------------------------------------------------------------------

1) Key figures per share have been adjusted to reflect the increase in the      
number of shares, which came into effect on 11 April 2007 (split), new issue of 
shares on 11 June 2007 and the new issue of shares and the cancellation of      
treasury shares in connection with the merger of SRV Henkilöstö Oy on 29        
September 2007 and purchases of own shares                                      


--------------------------------------------------------------------------------
| Consolidated balance sheet   |   IFRS    |   IFRS    |  change   |   IFRS    |
--------------------------------------------------------------------------------
| (EUR million)                |  30.6.08  |  30.6.07  |     %     | 31.12.07  |
--------------------------------------------------------------------------------
| ASSETS                       |           |           |           |           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-current assets           |           |           |           |           |
--------------------------------------------------------------------------------
| Property, plant and          |      26.1 |       6.2 |     318.1 |       8.0 |
| equipment                    |           |           |           |           |
--------------------------------------------------------------------------------
| Goodwill                     |       1.8 |       0.7 |     141.8 |       0.7 |
--------------------------------------------------------------------------------
| Other intangible assets      |       0.7 |       0.8 |     -15.3 |       0.6 |
--------------------------------------------------------------------------------
| Other financial assets       |       3.7 |       2.9 |      27.0 |       2.9 |
--------------------------------------------------------------------------------
| Receivables                  |       5.0 |       6.0 |     -16.5 |       2.7 |
--------------------------------------------------------------------------------
| Deferred tax assets          |       1.3 |       2.2 |     -40.0 |       1.1 |
--------------------------------------------------------------------------------
| Non-current assets, total    |      38.5 |      18.7 |     105.2 |      16.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Current assets               |           |           |           |           |
--------------------------------------------------------------------------------
| Inventories                  |     249.9 |     180.6 |      38.4 |     196.4 |
--------------------------------------------------------------------------------
| Trade and other receivables  |      89.0 |      77.1 |      15.4 |      94.2 |
--------------------------------------------------------------------------------
| Current tax receivables      |       6.5 |       3.3 |      95.3 |       3.4 |
--------------------------------------------------------------------------------
| Cash and cash equivalents    |      10.1 |      70.3 |     -85.6 |      21.4 |
--------------------------------------------------------------------------------
| Current assets, total        |     355.5 |     331.3 |       7.3 |     315.4 |
--------------------------------------------------------------------------------
| ASSETS, TOTAL                |     393.9 |     350.1 |      12.5 |     331.6 |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Consolidated balance sheet   |   IFRS    |   IFRS    |  change   |   IFRS    |
--------------------------------------------------------------------------------
| (EUR million)                |  30.6.08  |  30.6.07  |     %     | 31.12.07  |
--------------------------------------------------------------------------------
| 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 |     112.6 |     -22.4 |      87.3 |
--------------------------------------------------------------------------------
| Translation differences      |      -0.1 |       0.0 |   3,374.9 |       0.0 |
--------------------------------------------------------------------------------
| Fair value reserve           |       0.0 |       0.0 |    -100.0 |       0.0 |
--------------------------------------------------------------------------------
| Retained earnings            |      70.4 |      58.7 |      20.0 |      64.7 |
--------------------------------------------------------------------------------
| Equity attributable to       |     160.8 |     174.4 |      -7.8 |     155.1 |
| equity holders of the parent |           |           |           |           |
| company, total               |           |           |           |           |
--------------------------------------------------------------------------------
| Minority interest            |       2.9 |       4.0 |     -27.2 |       3.2 |
--------------------------------------------------------------------------------
| Equity, total                |     163.7 |     178.4 |      -8.2 |     158.3 |
--------------------------------------------------------------------------------
| Non-current liabilities      |           |           |           |           |
--------------------------------------------------------------------------------
| Deferred tax liabilities     |       0.4 |       1.1 |     -62.4 |       0.1 |
--------------------------------------------------------------------------------
| Provisions                   |       6.0 |       4.7 |      27.6 |       5.9 |
--------------------------------------------------------------------------------
| Interest-bearing liabilities |      50.8 |      36.0 |      41.3 |      37.7 |
--------------------------------------------------------------------------------
| Other liabilities            |       0.0 |       0.0 |           |       0.4 |
--------------------------------------------------------------------------------
| Non-current liabilities,     |      57.3 |      41.8 |      36.9 |      44.1 |
| total                        |           |           |           |           |
--------------------------------------------------------------------------------
| Current liabilities          |           |           |           |           |
--------------------------------------------------------------------------------
| Trade and other payables     |      83.0 |      98.5 |     -15.8 |      96.9 |
--------------------------------------------------------------------------------
| Current tax payables         |       4.3 |       3.4 |      25.2 |       1.6 |
--------------------------------------------------------------------------------
| Provisions                   |       4.1 |       4.0 |       1.6 |       4.1 |
--------------------------------------------------------------------------------
| Interest-bearing liabilities |      81.7 |      24.0 |     240.9 |      26.5 |
--------------------------------------------------------------------------------
| Current liabilities, total   |     173.0 |     129.9 |      33.2 |     129.1 |
--------------------------------------------------------------------------------
| Liabilities, total           |     230.3 |     171.7 |      34.1 |     173.2 |
--------------------------------------------------------------------------------
| EQUITY AND LIABILITIES       |     393.9 |     350.1 |      12.5 |     331.6 |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Consolidated cash flow statement       |   IFRS    |    IFRS    |    IFRS    |
--------------------------------------------------------------------------------
| (EUR million)                          | 1-6/2008  |  1-6/2007  | 1-12/2007  |
--------------------------------------------------------------------------------
| Cash flows from operating activities   |           |            |            |
--------------------------------------------------------------------------------
| Net profit for the period              |      10.4 |        6.6 |        7.6 |
--------------------------------------------------------------------------------
| Adjustments:                           |           |            |            |
--------------------------------------------------------------------------------
| Depreciation and impairments           |       1.4 |        0.9 |        1.9 |
--------------------------------------------------------------------------------
| Non-cash transactions                  |      -0.2 |        0.5 |        1.5 |
--------------------------------------------------------------------------------
| Financial income and expenses          |       3.0 |        1.4 |        3.5 |
--------------------------------------------------------------------------------
| Capital gains on sales of tangible and |       0.0 |       -0.1 |       -0.1 |
| intangible assets                      |           |            |            |
--------------------------------------------------------------------------------
| Income taxes                           |       4.6 |        2.4 |        3.9 |
--------------------------------------------------------------------------------
| Adjustments, total                     |       8.9 |        5.0 |       10.6 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Changes in working capital:            |           |            |            |
--------------------------------------------------------------------------------
| Change in loan receivables             |      -6.3 |       -1.5 |       -2.7 |
--------------------------------------------------------------------------------
| Change in trade and other receivables  |       8.1 |      -11.4 |      -23.0 |
--------------------------------------------------------------------------------
| Change in inventories                  |     -53.2 |      -46.1 |      -62.8 |
--------------------------------------------------------------------------------
| Change in trade and other payables     |     -15.2 |       18.2 |       16.4 |
--------------------------------------------------------------------------------
| Changes in working capital, total      |     -66.7 |      -40.8 |      -72.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Interest paid                          |      -5.7 |       -2.5 |       -6.3 |
--------------------------------------------------------------------------------
| Interest received                      |       5.0 |        1.1 |        2.8 |
--------------------------------------------------------------------------------
| Income taxes paid                      |      -4.9 |       -2.9 |       -6.3 |
--------------------------------------------------------------------------------
|                                        |      -5.6 |       -4.2 |       -9.8 |
--------------------------------------------------------------------------------
| Net cash flow from operating           |     -53.0 |      -33.4 |      -63.7 |
| activities                             |           |            |            |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash flow from investing activities    |           |            |            |
--------------------------------------------------------------------------------
| Acquisition of subsidiaries, net of    |      -1.3 |        0.0 |        0.0 |
| cash                                   |           |            |            |
--------------------------------------------------------------------------------
| Property, plant and equipment          |     -19.3 |       -1.9 |       -4.2 |
--------------------------------------------------------------------------------
| Intangible assets                      |      -0.2 |       -0.1 |       -0.1 |
--------------------------------------------------------------------------------
| Other financial assets                 |      -0.8 |       -0.1 |       -1.0 |
--------------------------------------------------------------------------------
| Sale of property, plant and equipment  |       0.1 |        0.7 |        0.7 |
| and intangible assets                  |           |            |            |
--------------------------------------------------------------------------------
| Sale of financial assets               |       0.0 |        0.3 |        0.3 |
--------------------------------------------------------------------------------
| Net cash used in investing activities  |     -21.5 |       -1.2 |       -4.3 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash flows from financing activities   |           |            |            |
--------------------------------------------------------------------------------
| Proceeds from share issue              |       0.0 |      112.6 |      113.4 |
--------------------------------------------------------------------------------
| Proceeds from loans                    |      18.4 |        6.2 |       19.1 |
--------------------------------------------------------------------------------
| Repayments of loans                    |      -9.2 |       -6.8 |      -13.5 |
--------------------------------------------------------------------------------
| Change in loan receivables             |       0.0 |        0.2 |        0.2 |
--------------------------------------------------------------------------------
| Change in housing corporation loans    |      16.0 |       -9.7 |      -21.8 |
--------------------------------------------------------------------------------
| Change in credit limits                |      42.8 |       -9.4 |        0.9 |
--------------------------------------------------------------------------------
| Purchase of treasury shares            |      -0.4 |        0.0 |      -20.7 |
--------------------------------------------------------------------------------
| Dividends paid                         |      -4.4 |       -3.1 |       -3.1 |
--------------------------------------------------------------------------------
| Net cash from financing activities     |      63.2 |       90.1 |       74.5 |
--------------------------------------------------------------------------------
| Net change in cash and cash            |     -11.3 |       55.5 |        6.5 |
| equivalents                            |           |            |            |
--------------------------------------------------------------------------------
| Cash and cash equivalents at the       |      21.4 |       14.9 |       14.9 |
| beginning of period                    |           |            |            |
--------------------------------------------------------------------------------
| Cash and cash equivalents at the end   |      10.1 |       70.3 |       21.4 |
| of period                              |           |            |            |
--------------------------------------------------------------------------------


Statement of changes in Group equity 1.1. - 30.6.2008                           

--------------------------------------------------------------------------------
|              | Equity attributable to                        |               |
|              | the equity holders of the parent company      |               |
--------------------------------------------------------------------------------
| IFRS         | Sha | Sha | Inve | Trans | Fair | Reta | Tota | Minor | Total |
| (EUR         | re  | re  | sted | -lati | valu | i-ne | l    | ity   | equit |
| million)     | cap | pre | free | on    | e    | d    |      | inter | y     |
|              | ita | miu | equi | diffe | rese | earn |      | est   |       |
|              | l   | m   | ty   | r-enc | rve  | ings |      |       |       |
|              |     | res | fund | es    |      |      |      |       |       |
|              |     | 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 |      |      | -0.1 |       |       |
| differences  |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Net gains on |     |     |      |       |  0.0 |      |  0.0 |       |       |
| available-fo |     |     |      |       |      |      |      |       |       |
| r-sale       |     |     |      |       |      |      |      |       |       |
| financial    |     |     |      |       |      |      |      |       |       |
| assets       |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| 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      |     |     |      |       |      |      |      |       |       |
| period       |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Total income | 0.0 | 0.0 |  0.0 |   0.0 |  0.0 | 10.1 | 10.1 |       |       |
| and expenses |     |     |      |       |      |      |      |       |       |
| for the      |     |     |      |       |      |      |      |       |       |
| period       |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| 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. - 30.6.2007                           

--------------------------------------------------------------------------------
|              | Equity attributable to                        |               |
|              | the equity holders of the parent company      |               |
--------------------------------------------------------------------------------
| IFRS         | Sha | Sha | Non- | Other | Tran | Fair | Reta | Minor | Total |
| (EUR         | re  | re  | rest | reser | s-la | valu | i-ne | ity   |       |
| million)     | cap | pre | rict | ve    | tion | e    | d    | inter |       |
|              | ita | miu | ed   |       | diff | rese | earn | est   |       |
|              | l   | m   | equi |       | er-e | rve  | -ing |       |       |
|              |     | res | ty   |       | nces |      | s    |       |       |
|              |     | erv | rese |       |      |      |      |       |       |
|              |     | e   | rve  |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Equity on    | 1.3 | 1.8 |  0.0 |   0.0 |  0.1 | 54.7 | 57.9 |   4.2 |  62.2 |
| 1.1.2007     |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Translation  |     |     |      |   0.0 |      |      |  0.0 |       |       |
| differences  |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Net gains on |     |     |      |       | -0.1 |      | -0.1 |       |       |
| available-fo |     |     |      |       |      |      |      |       |       |
| r-sale       |     |     |      |       |      |      |      |       |       |
| financial    |     |     |      |       |      |      |      |       |       |
| assets       |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Other        |     |     |      |       |      |  0.0 |  0.0 |       |       |
| changes      |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Net income   | 0.0 | 0.0 |  0.0 |   0.0 | -0.1 |  0.0 | -0.1 |       |       |
| recognised   |     |     |      |       |      |      |      |       |       |
| directly in  |     |     |      |       |      |      |      |       |       |
| equity       |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Net profit   |     |     |      |       |      |  6.7 |  6.7 |       |       |
| for the      |     |     |      |       |      |      |      |       |       |
| period       |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Total        | 0.0 | 0.0 |  0.0 |   0.0 |  0.0 |  6.7 |  6.7 |       |       |
| recognised   |     |     |      |       |      |      |      |       |       |
| income and   |     |     |      |       |      |      |      |       |       |
| expenses     |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Dividends    |     |     |      |       |      | -3.1 | -3.1 |       |       |
| paid         |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Transfer     | 1.8 | -1. |      |       |      |      |  0.0 |       |       |
| from share   |     |   8 |      |       |      |      |      |       |       |
| premium      |     |     |      |       |      |      |      |       |       |
| reserve to   |     |     |      |       |      |      |      |       |       |
| share        |     |     |      |       |      |      |      |       |       |
| capital      |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Share issue  |     |     | 112. |       |      |  0.4 | 113. |       |       |
| and employee |     |     |    6 |       |      |      |    0 |       |       |
| offering     |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Equity on    | 3.1 | 0.0 | 112. |   0.0 |  0.0 | 58.7 | 174. |   4.0 | 178.4 |
| 30.6.2007    |     |     |    6 |       |      |      |    4 |       |       |
--------------------------------------------------------------------------------


Statement of changes in Group equity 1.1. - 31.12.2007                          
	                                                                               
--------------------------------------------------------------------------------
|              | Equity attributable to                        |               |
|              | the equity holders of the parent company      |               |
--------------------------------------------------------------------------------
| IFRS         | Sha | Sha | Inve | Trans | Fair | Reta | Tota | Minor | Total |
| (EUR         | re  | re  | sted | -lati | valu | i-ne | l    | ity   | equit |
| million)     | cap | pre | free | on    | e    | d    |      | inter | y     |
|              | ita | miu | equi | diffe | rese | earn |      | est   |       |
|              | l   | m   | ty   | r-enc | rve  | ings |      |       |       |
|              |     | res | fund | es    |      |      |      |       |       |
|              |     | erv |      |       |      |      |      |       |       |
|              |     | e   |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Equity on    | 1.3 | 1.8 |  0.0 |   0.0 |  0.1 | 54.7 | 57.9 |   4.2 |  62.2 |
| 1.1.2007     |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Translation  |     |     |      |   0.0 |      |      |  0.0 |       |       |
| differences  |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Net gains on |     |     |      |       | -0.1 |      | -0.1 |       |       |
| available-fo |     |     |      |       |      |      |      |       |       |
| r-sale       |     |     |      |       |      |      |      |       |       |
| financial    |     |     |      |       |      |      |      |       |       |
| assets       |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Other        |     |     |      |       |      |  0.1 |  0.1 |       |       |
| changes      |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Net income   | 0.0 | 0.0 |  0.0 |   0.0 | -0.1 |  0.1 |  0.0 |       |       |
| recognised   |     |     |      |       |      |      |      |       |       |
| directly in  |     |     |      |       |      |      |      |       |       |
| equity       |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Net profit   |     |     |      |       |      |  7.2 |  7.2 |       |       |
| for the      |     |     |      |       |      |      |      |       |       |
| period       |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Total income | 0.0 | 0.0 |  0.0 |   0.0 |  0.0 |  7.2 |  7.2 |       |       |
| and expenses |     |     |      |       |      |      |      |       |       |
| for the      |     |     |      |       |      |      |      |       |       |
| period       |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Dividends    |     |     |      |       |      | -3.1 | -3.1 |       |       |
| paid         |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Transfer     | 1.8 | -1. |      |       |      |      |  0.0 |       |       |
| from share   |     |   8 |      |       |      |      |      |       |       |
| premium      |     |     |      |       |      |      |      |       |       |
| reserve to   |     |     |      |       |      |      |      |       |       |
| share        |     |     |      |       |      |      |      |       |       |
| capital      |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Share issue  |     |     | 116. |       |      |  0.4 | 117. |       |       |
| and employee |     |     |    6 |       |      |      |    0 |       |       |
| offering     |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Share issue  |     |     |      |       |      | -3.2 | -3.2 |       |       |
| and employee |     |     |      |       |      |      |      |       |       |
| offering     |     |     |      |       |      |      |      |       |       |
| deductions   |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Purchase and |     |     | -29. |       |      |  8.6 | -20. |       |       |
| cancellation |     |     |    3 |       |      |      |    7 |       |       |
| of treasury  |     |     |      |       |      |      |      |       |       |
| shares       |     |     |      |       |      |      |      |       |       |
--------------------------------------------------------------------------------
| Equity       | 3.1 | 0.0 | 87.3 |   0.0 |  0.0 | 64.7 | 155. |   3.2 | 158.3 |
| 31.12.2007   |     |     |      |       |      |      |    1 |       |       |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Inventories                      |   IFRS   |   IFRS   | change,  |   IFRS   |
--------------------------------------------------------------------------------
| (EUR million)                    | 30.6.08  | 30.6.07  |    %     | 31.12.07 |
--------------------------------------------------------------------------------
| Raw materials and consumables    |      0.1 |      0.0 |     39.4 |      0.0 |
--------------------------------------------------------------------------------
| Work in progress                 |     73.8 |     70.2 |      5.2 |     86.7 |
--------------------------------------------------------------------------------
| Land areas and plot-owning       |    118.7 |     68.7 |     72.7 |     64.3 |
| companies                        |          |          |          |          |
--------------------------------------------------------------------------------
| Shares in completed housing      |     37.7 |     21.6 |     74.9 |     30.3 |
| corporations and real estate     |          |          |          |          |
| companies                        |          |          |          |          |
--------------------------------------------------------------------------------
| Advance payments                 |      6.2 |     12.3 |    -49.4 |      6.5 |
--------------------------------------------------------------------------------
| Other inventories                |     13.4 |      7.7 |     73.1 |      8.7 |
--------------------------------------------------------------------------------
| Inventories, total               |    249.9 |    180.6 |     38.4 |    196.4 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Commitments and contingent       |   IFRS   |   IFRS   | change,  |   IFRS   |
| liabilities                      |          |          |          |          |
--------------------------------------------------------------------------------
| EUR million                      | 30.6.08  | 30.6.07  |    %     | 31.12.07 |
--------------------------------------------------------------------------------
| Collateral given for own         |          |          |          |          |
| liabilities                      |          |          |          |          |
--------------------------------------------------------------------------------
| Real estate mortgages given      |     95.3 |     61.3 |     55.5 |     69.9 |
--------------------------------------------------------------------------------
| Pledges given                    |      0.0 |     11.0 |   -100.0 |      5.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other commitments                |          |          |          |          |
--------------------------------------------------------------------------------
| Guarantees given for liabilities |     23.4 |     71.0 |    -67.0 |     71.4 |
| on uncompleted projects          |          |          |          |          |
--------------------------------------------------------------------------------
| Investment commitments given     |      4.0 |      6.4 |    -37.4 |      4.7 |
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
| Fair and nominal    |      IFRS       |       IFRS       |       IFRS        |
| values of           |     30.6.08     |     30.6.07      |     31.12.07      |
| 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    |    0.2 |    0.0 |    0.0 |     0.0 |     0.0 |     0.0 |
| forward contracts   |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Interest rate swaps |    0.0 |    0.0 |    0.0 |     0.0 |     0.0 |     0.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|                     |        |  IFRS  |        |  IFRS   |         |  IFRS   |
--------------------------------------------------------------------------------
|                     |        | 30.6.0 |        | 30.6.07 |         | 31.12.0 |
|                     |        |   8    |        |         |         |    7    |
--------------------------------------------------------------------------------
| Nominal values of   |        |    8.1 |        |     9.3 |         |     8.5 |
| derivative          |        |        |        |         |         |         |
| instruments         |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Foreign exchange    |        |   11.2 |        |     0.0 |         |     0.0 |
| forward contracts   |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| 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)     | 4-6/20 | 1-3/200 | 10-12/2 | 7-9/200 | 4-6/200 | 1-3/200 |
|                   |   08   |    8    |   007   |    7    |    7    |    7    |
--------------------------------------------------------------------------------
| Revenue           |  142.4 |   146.4 |   165.5 |   134.6 |   140.0 |   121.4 |
--------------------------------------------------------------------------------
| Operating profit  |    9.2 |     8.9 |    -2.9 |     7.6 |     6.8 |     3.6 |
--------------------------------------------------------------------------------
| Financial income  |   -2.4 |    -0.6 |    -2.3 |     0.2 |    -0.8 |    -0.6 |
| and expenses,     |        |         |         |         |         |         |
| total             |        |         |         |         |         |         |
--------------------------------------------------------------------------------
| Profit before     |    6.8 |     8.3 |    -5.2 |     7.8 |     6.0 |     3.0 |
| taxes             |        |         |         |         |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog 1)  |  521.1 |   451.3 |   528.7 |   546.3 |   517.4 |   507.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per      |   0.12 |    0.16 |   -0.17 |    0.14 |    0.18 |    0.07 |
| share, eur        |        |         |         |         |         |         |
--------------------------------------------------------------------------------
| Equity per share, |   4.40 |    4.38 |    4.22 |    4.33 |    4.46 |    2.29 |
| eur 1)            |        |         |         |         |         |         |
--------------------------------------------------------------------------------
| Share price, eur  |   5.28 |    5.55 |    5.02 |    8.10 |   10.10 |       - |
| 1)                |        |         |         |         |         |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity ratio, %   |   44.9 |    52.1 |    55.4 |    60.9 |    59.4 |    33.2 |
| 1)                |        |         |         |         |         |         |
--------------------------------------------------------------------------------
| Net interest      |  122.4 |    76.1 |    43.2 |    19.8 |   -10.4 |    52.5 |
| bearing debt 1)   |        |         |         |         |         |         |
--------------------------------------------------------------------------------
| Gearing, % 1)     |   74.8 |    46.3 |    27.3 |    12.2 |    -5.8 |    82.9 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Revenue           |  IFRS  |  IFRS   |  IFRS   |  IFRS   |  IFRS   |  IFRS   |
--------------------------------------------------------------------------------
| (EUR million)     | 4-6/20 | 1-3/200 | 10-12/2 | 7-9/200 | 4-6/200 | 1-3/200 |
|                   |   08   |    8    |   007   |    7    |    7    |    7    |
--------------------------------------------------------------------------------
| Business Premises |   92.2 |   104.8 |   103.2 |    90.6 |    82.2 |    69.4 |
--------------------------------------------------------------------------------
| Housing           |   37.1 |    26.0 |    43.5 |    35.5 |    43.9 |    40.1 |
--------------------------------------------------------------------------------
| International     |   13.1 |    15.7 |    18.8 |     8.5 |    14.0 |    11.9 |
--------------------------------------------------------------------------------
| Other Operations  |    2.8 |     2.9 |     2.7 |     2.5 |     4.0 |     1.9 |
--------------------------------------------------------------------------------
| Eliminations      |   -2.9 |    -2.9 |    -2.7 |    -2.6 |    -4.2 |    -1.9 |
--------------------------------------------------------------------------------
| Group, total      |  142.4 |   146.4 |   165.5 |   134.6 |   140.0 |   121.4 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Operating profit  |  IFRS  |  IFRS   |  IFRS   |  IFRS   |  IFRS   |  IFRS   |
--------------------------------------------------------------------------------
| (EUR million)     | 4-6/20 | 1-3/200 | 10-12/2 | 7-9/200 | 4-6/200 | 1-3/200 |
|                   |   08   |    8    |   007   |    7    |    7    |    7    |
--------------------------------------------------------------------------------
| Business Premises |    9.9 |     8.2 |     4.7 |     6.8 |     3.6 |     2.9 |
--------------------------------------------------------------------------------
| Housing           |    0.9 |     0.4 |     2.8 |     3.0 |     2.9 |     2.0 |
--------------------------------------------------------------------------------
| International     |   -0.1 |     1.2 |    -9.4 |    -1.7 |     1.8 |    -0.9 |
--------------------------------------------------------------------------------
| Other Operations  |   -1.6 |    -0.9 |    -1.1 |    -0.5 |    -1.1 |    -0.4 |
--------------------------------------------------------------------------------
| Eliminations      |    0.0 |     0.0 |     0.0 |     0.0 |    -0.4 |     0.0 |
--------------------------------------------------------------------------------
| Group, total      |    9.2 |     8.9 |    -2.9 |     7.6 |     6.8 |     3.6 |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| Operating profit  |  IFRS  |  IFRS   |  IFRS   |  IFRS   |  IFRS   |  IFRS   |
--------------------------------------------------------------------------------
| (%)               | 4-6/20 | 1-3/200 | 10-12/2 | 7-9/200 | 4-6/200 | 1-3/200 |
|                   |   08   |    8    |   007   |    7    |    7    |    7    |
--------------------------------------------------------------------------------
| Business Premises |   10.8 |     7.8 |     4.5 |     7.5 |     4.4 |     4.2 |
--------------------------------------------------------------------------------
| Housing           |    2.5 |     1.6 |     6.5 |     8.5 |     6.5 |     4.9 |
--------------------------------------------------------------------------------
| International     |   -0.9 |     7.9 |   -49.9 |   -19.9 |    12.7 |    -7.8 |
--------------------------------------------------------------------------------
| Group, total      |    6.4 |     6.1 |    -1.8 |     5.7 |     4.8 |     2.9 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Order backlog     |  IFRS  |  IFRS   |  IFRS   |  IFRS   |  IFRS   |  IFRS   |
--------------------------------------------------------------------------------
| (EUR million)     | 30.6.2 | 31.3.20 | 31.12.2 | 30.9.20 | 30.6.20 | 31.3.20 |
|                   |  008   |   08    |   007   |   07    |   07    |   07    |
--------------------------------------------------------------------------------
| Business Premises |  291.1 |   235.2 |   302.8 |   360.2 |   323.4 |   326.0 |
--------------------------------------------------------------------------------
| Housing           |  186.8 |   182.4 |   174.6 |   128.2 |   129.7 |   143.0 |
--------------------------------------------------------------------------------
| International     |   43.2 |    33.7 |    51.3 |    57.9 |    64.4 |    38.0 |
--------------------------------------------------------------------------------
| Group, total      |  521.1 |   451.3 |   528.7 |   546.3 |   517.4 |   507.0 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Invested capital  |  IFRS  |  IFRS   |  IFRS   |  IFRS   |  IFRS   |  IFRS   |
--------------------------------------------------------------------------------
| (EUR million)     | 30.6.2 | 31.3.20 | 31.12.2 | 30.9.20 | 30.6.20 | 31.3.20 |
|                   |  008   |   08    |   007   |   07    |   07    |   07    |
--------------------------------------------------------------------------------
| Business Premises |   51.2 |    43.7 |    33.4 |    44.4 |    60.7 |    40.1 |
--------------------------------------------------------------------------------
| Housing           |  105.3 |    97.0 |    81.5 |    72.2 |    60.6 |    39.5 |
--------------------------------------------------------------------------------
| International     |  145.1 |   115.1 |   101.3 |    65.3 |    58.6 |    29.9 |
--------------------------------------------------------------------------------
| Other and         |   -5.4 |     4.0 |     6.7 |    25.3 |    58.5 |    23.0 |
| eliminations      |        |         |         |         |         |         |
--------------------------------------------------------------------------------
| Group, total	     |  296.2 |   259.8 |   222.9 |   207.3 |   238.3 |   132.6 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Residential       |  IFRS  |  IFRS   |  IFRS   |  IFRS   |  IFRS   |  IFRS   |
| production        |        |         |         |         |         |         |
--------------------------------------------------------------------------------
| in Finland        | 4-6/20 | 1-3/200 | 10-12/2 | 7-9/200 | 4-6/200 | 1-3/200 |
| (units)           |   08   |    8    |   007   |    7    |    7    |    7    |
--------------------------------------------------------------------------------
| Start-ups         |     53 |       8 |     155 |      31 |      77 |     100 |
--------------------------------------------------------------------------------
| Sold              |     63 |      33 |      40 |      62 |      83 |     103 |
--------------------------------------------------------------------------------
| Completed         |    104 |     125 |     130 |     257 |      51 |      81 |
--------------------------------------------------------------------------------
| Completed and     |    128 |     105 |      80 |      71 |      30 |      18 |
| unsold 1)         |        |         |         |         |         |         |
--------------------------------------------------------------------------------
| Under             |    247 |     298 |     415 |     382 |     593 |     613 |
| construction 1)   |        |         |         |         |         |         |
--------------------------------------------------------------------------------

1) at the end of the period                                                     

3. Segment information                                                          
--------------------------------------------------------------------------------
| Assets                   |  IFRS   |  IFRS   | change,  | change, |   IFRS   |
--------------------------------------------------------------------------------
| (EUR million)            | 30.6.08 | 30.6.07 |   MEUR   |    %    | 31.12.08 |
--------------------------------------------------------------------------------
| Business Premises        |   111.7 |   125.1 |    -13.4 |   -10.7 |    117.2 |
--------------------------------------------------------------------------------
| Housing                  |   127.3 |    88.2 |     39.1 |    44.4 |    113.4 |
--------------------------------------------------------------------------------
| International            |   157.8 |    74.0 |     83.8 |   113.2 |    114.3 |
--------------------------------------------------------------------------------
| Other Operations         |   187.8 |   154.3 |     33.5 |    21.7 |    162.0 |
--------------------------------------------------------------------------------
| Eliminations             |  -190.7 |   -91.6 |    -99.2 |         |   -175.4 |
--------------------------------------------------------------------------------
| Group, total             |   393.9 |   350.1 |     43.9 |    12.5 |    331.6 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Liabilities              |  IFRS   |  IFRS   | change,  | change, |   IFRS   |
--------------------------------------------------------------------------------
| (EUR million)            | 30.6.08 | 30.6.07 |   MEUR   |    %    | 31.12.08 |
--------------------------------------------------------------------------------
| Business Premises        |    82.0 |   104.9 |    -22.9 |   -21.9 |     83.9 |
--------------------------------------------------------------------------------
| Housing                  |   113.8 |    72.9 |     40.9 |    56.1 |     93.8 |
--------------------------------------------------------------------------------
| International            |   149.9 |    62.5 |     87.4 |   139.8 |    104.9 |
--------------------------------------------------------------------------------
| Other Operations         |    76.7 |    23.8 |     52.9 |   221.8 |     31.5 |
--------------------------------------------------------------------------------
| Eliminations             |  -192.1 |   -92.5 |    -99.6 |         |   -140.9 |
--------------------------------------------------------------------------------
| Group, total             |   230.3 |   171.7 |     58.6 |    34.1 |    173.2 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Invested capital         |  IFRS   |  IFRS   | change,  | change, |   IFRS   |
--------------------------------------------------------------------------------
| (EUR million)            | 30.6.08 | 30.6.07 |   MEUR   |    %    | 31.12.08 |
--------------------------------------------------------------------------------
| Business Premises        |    51.2 |    60.7 |     -9.5 |   -15.7 |     33.4 |
--------------------------------------------------------------------------------
| Housing                  |   105.3 |    60.6 |     44.8 |    73.9 |     81.5 |
--------------------------------------------------------------------------------
| International            |   145.1 |    58.6 |     86.5 |   147.6 |    101.3 |
--------------------------------------------------------------------------------
| Other operations and     |    -5.4 |    58.5 |    -63.9 |         |      6.7 |
| eliminations             |         |         |          |         |          |
--------------------------------------------------------------------------------
| Group, total             |   296.2 |   238.3 |     57.9 |    24.3 |    222.9 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Business Premises        |  IFRS   |  IFRS   | change,  | change, |   IFRS   |
--------------------------------------------------------------------------------
| (EUR million)            | 1-6/200 | 1-6/200 |   MEUR   |    %    |   2007   |
|                          |    8    |    7    |          |         |          |
--------------------------------------------------------------------------------
| Revenue                  |   197.0 |   151.6 |     45.4 |    29.9 |    345.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit         |    18.1 |     6.5 |     11.6 |   177.8 |     18.0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Segment's assets         |         |         |          |         |          |
--------------------------------------------------------------------------------
| Non-current assets       |     0.9 |     0.8 |      0.2 |    23.1 |      1.0 |
--------------------------------------------------------------------------------
| Current assets           |   110.8 |   124.4 |    -13.6 |   -10.9 |    116.2 |
--------------------------------------------------------------------------------
| Total assets             |   111.7 |   125.1 |    -13.4 |   -10.7 |    117.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Segment's liabilities    |         |         |          |         |          |
--------------------------------------------------------------------------------
| Non-current liabilities  |     1.1 |    12.7 |    -11.6 |   -91.0 |      1.2 |
--------------------------------------------------------------------------------
| Current liabilities      |    80.8 |    92.2 |    -11.3 |   -12.3 |     82.7 |
--------------------------------------------------------------------------------
| Total liabilities        |    82.0 |   104.9 |    -22.9 |   -21.9 |     83.9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Invested capital at end  |    51.2 |    60.7 |     -9.5 |   -15.7 |     33.4 |
| of period                |         |         |          |         |          |
--------------------------------------------------------------------------------
| Return on investment, %  |    91.6 |    29.2 |          |         |     52.4 |
| 1)                       |         |         |          |         |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog at end of  |   291.1 |   323.4 |    -32.3 |   -10.0 |    302.8 |
| period                   |         |         |          |         |          |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| Housing                  |  IFRS   |  IFRS   | change,  | change, |   IFRS   |
--------------------------------------------------------------------------------
| (EUR million)            | 1-6/200 | 1-6/200 |   MEUR   |    %    |   2007   |
|                          |    8    |    7    |          |         |          |
--------------------------------------------------------------------------------
| Revenue                  |    63.1 |    84.0 |    -20.9 |   -24.9 |    163.1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit         |     1.3 |     4.8 |     -3.5 |   -72.2 |     10.7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Segment's assets         |         |         |          |         |          |
--------------------------------------------------------------------------------
| Non-current assets       |     2.2 |     1.0 |      1.2 |   114.2 |      2.6 |
--------------------------------------------------------------------------------
| Current assets           |   125.1 |    87.1 |     37.9 |    43.6 |    110.9 |
--------------------------------------------------------------------------------
| Total assets             |   127.3 |    88.2 |     39.1 |    44.4 |    113.4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Segment's liabilities    |         |         |          |         |          |
--------------------------------------------------------------------------------
| Non-current liabilities  |    44.4 |    25.6 |     18.7 |    73.0 |     28.1 |
--------------------------------------------------------------------------------
| Current liabilities      |    69.5 |    47.3 |     22.2 |    46.9 |     65.7 |
--------------------------------------------------------------------------------
| Total liabilities        |   113.8 |    72.9 |     40.9 |    56.1 |     93.8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Invested capital at end  |   105.3 |    60.6 |     44.8 |    73.9 |     81.5 |
| of period                |         |         |          |         |          |
--------------------------------------------------------------------------------
| Return on investment, %  |     2.9 |    18.0 |          |         |     16.7 |
| 1)                       |         |         |          |         |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog at end of  |   186.8 |   129.7 |     57.1 |    44.0 |    174.6 |
| period                   |         |         |          |         |          |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| International Operations |  IFRS   |  IFRS   | change,  | change, |   IFRS   |
--------------------------------------------------------------------------------
| (EUR million)            | 1-6/200 | 1-6/200 |   MEUR   |    %    |   2007   |
|                          |    8    |    7    |          |         |          |
--------------------------------------------------------------------------------
| Revenue                  |    28.8 |    25.9 |      2.9 |    11.3 |     53.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Operating profit         |     1.1 |     0.9 |      0.3 |    30.9 |    -10.2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Segment's assets         |         |         |          |         |          |
--------------------------------------------------------------------------------
| Non-current assets       |    22.8 |     6.3 |     16.4 |   259.1 |      2.4 |
--------------------------------------------------------------------------------
| Current assets           |   135.0 |    67.7 |     67.4 |    99.6 |    111.8 |
--------------------------------------------------------------------------------
| Total assets             |   157.8 |    74.0 |     83.8 |   113.2 |    114.3 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Segment's liabilities    |         |         |          |         |          |
--------------------------------------------------------------------------------
| Non-current liabilities  |    13.3 |     2.6 |     10.7 |   418.4 |     14.8 |
--------------------------------------------------------------------------------
| Current liabilities      |   136.6 |    60.0 |     76.7 |   127.9 |     90.1 |
--------------------------------------------------------------------------------
| Total liabilities        |   149.9 |    62.5 |     87.4 |   139.8 |    104.9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Invested capital at end  |   145.1 |    58.6 |     86.5 |   147.6 |    101.3 |
| of period                |         |         |          |         |          |
--------------------------------------------------------------------------------
| Return on investment, %  |     6.5 |     4.0 |          |         |    -11.3 |
| 1)                       |         |         |          |         |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Order backlog at end of  |    43.2 |    64.4 |    -21.2 |   -32.9 |     51.3 |
| period                   |         |         |          |         |          |
--------------------------------------------------------------------------------

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

4) Adoption of new standards, changes and interpretations in 2009               

In July, IFRIC published a new interpretation guide concerning the income       
recognition procedures for developer contracting projects  (IFRIC 15: Agreements
for the Construction of Real Estate),  The coming into effect of the standard   
requires the approval of the European Commission. SRV will adopt the approved   
interpretation guide as from 1 January 2009 and will analyse the effects of the 
application of the interpretation guide on the financial data reported by the   
Group.                                                                          

Outlook for 2008                                                                

In July, SRV signed a contract for the sale of shares in ZAO Nordrus Hotel with 
Wenaas Hotel Russia A/S, which belongs to the Norwegian Wenaas Group. ZAO       
Nordrus Hotel owns the 160-room Park Inn hotel in Ekaterinburg, Russia. The     
selling price of the shares was EUR 22.5 million. The transaction requires the  
consent of the Russian competition authorities, which is expected during        
September/October. The transaction will generate operating profit of about EUR  
13 million.                                                                     

In July, SRV signed a project management contract valued at EUR 107 million for 
the planning and construction of the Mytichi shopping centre project with the   
project company. The majority owner of the project is the Finnish real estate   
investment company Vicus with a 75 per cent stake. The final investment decision
will be made by the end of this year. The contract is not included in the order 
backlog until the final investment decision is made.

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