Government decision: Ready for refurbishment of historical archipelago milieu

Government decision: Ready for refurbishment of historical archipelago milieu 110 new homes, renovation of the listed open-air swimming baths, improvements to roads, promenades and nature areas, establishment of a public facility and extension of the marina are just some of the efforts to restore Hotellviken in Saltsjöbaden to a living residential area and popular place for visitors. According to the new detailed development plan, JM has an overall responsibility for this refurbishment. Under a Government decision of 27 November, Nacka Municipality's detailed plan for Saltsjöbaden and Hotellviken outside Stockholm, has now gained legal force. Development and refurbishment of this historical archipelago milieu which has been declared to be of national interest for cultural values, is scheduled for completion in 2006/07. According to the adopted detailed plan and development agreement, JM will build some 110 new homes, both apartments and terraced houses. JM will also restore the two open-air swimming baths dating from the early 20th century to their original condition, build a public facility of approximately 2,100 sq.m. for hotel, conference, cultural and/or recreational purposes and an outdoor theatre. JM will also improve roads, restore promenades, nature areas, pedestrian and cycle paths and bridges. JM will transfer 85 % of the Restaurantholmen area to Nacka Municipality to be used as a park and the two outdoor swimming baths will be donated to the association Restaurantholmens Vänner whose future operation and maintenance will be guaranteed financially. In addition to this JM will build a new block of service apartments and offices in the guest harbour and a new pier for KSSS. "In view of the tremendous environmental, cultural-historical and traditional values of this location, we will preserve and develop the area and make sure that this refurbishment can benefit everyone," says Martin Asp, project leader, JM. For additional information please contact: Martin Asp, project leader, JM AB, telephone +46 8 782 8985, mobile +47 70 316 41 14. Stockholm, 1 December JM AB Corporate Communications This and earlier press releases are also available at JM AB is a public limited company listed on the Stockholm Stock Exchange. JM has around 2,700 employees in Sweden, Norway, Denmark and Belgium, and sales in 2002 amounted to approximately SEK 9 billion. The company is Sweden's leading housing developer, and the core business is project development of residential and commercial properties in central areas of growth markets. JM's operations are characterised by a focus on quality and the environment. ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM seeks to promote long-term quality and environmental considerations in all its operations. Annual sales total approximately SEK 17 billion and the company has about 2,500 employees. JM is a public limited company listed on NASDAQ OMX Stockholm, in the Large Cap segment.