JM acquires land on Kungsholmen from Scancem for office

JM acquires land on Kungsholmen from Scancem for office and residential development JM acquires land in the Hornsberg area of Kungsholmen from Scancem for MSEK 295. The transfer of ownership will take place on 15 December 2000. Betongindustri and Jehanders currently conduct operations on the property, which is situated on Ulvsunda Bay and includes building rights for around 45,000 sq.m. "The acquired land is located in one of Stockholm's most attractive development areas on Västra Kungsholmen. The acquisition is entirely consistent with JM's strategy to develop residential and commercial properties. We plan to build some 45,000 sq.m. of office space or around 450 apartment units, or both, and the project is scheduled to start in 2001", says Lars Fränne, head of JM's business unit Residential Project Development, Stockholm. For additional information contact Lars Fränne, telephone +46-8-782 87 58 or +46-70-582 87 57. Stockholm, 21 February 2000 JM AB Group Staff Communications This and earlier press releases are also available at ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

About Us

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.