JM gives notice to 100 people in Stockholm

JM gives notice to 100 people in Stockholm Notice of possible redundancy has been submitted to the county labour board in Stockholm. This notice covers a maximum of 100 people and includes both wage-earners and salaried employees. The notice period is four months. Negotiations with the relevant trade unions will be commence later. The reason for the redundancy notices is postponement of project starts. "We have decided to postpone a number of projects starts and we want to have the preparedness and flexibility for a possibly less favourable market situation in Stockholm. The rest of Sweden is not affected," says JM's President and CEO, Johan Skoglund. For additional information please contact: Göran Malmberg, Director of Human Resources, JM AB, telephone 0+46 8 782 87 85. Stockholm 2003-03-24 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.