JM sells 50 per cent holding in Scandic Star Hotel property in Sollentuna.

JM sells 50 per cent holding in Scandic Star Hotel property in Sollentuna. JM has sold its 50 per cent holding in Star Hotel to Pandox for a price of MSEK 95, providing JM with a capital gain of MSEK 43. One key aspect of JM's role as a project developer is the ongoing sale of fully developed properties, since the proceeds from these sales are reinvested in new development projects. So far this year JM has sold properties for SEK 1.85 billion with a capital gain of MSEK 465. For more information, contact Sten Hamberg, JM AB, telephone: +46-8-782 88 52. Stockholm, 12 September 2000 JM AB Group Staff Communications This and earlier press releases are also available at www.jm.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/08/18/20030818BIT00450/wkr0001.doc http://www.waymaker.net/bitonline/2003/08/18/20030818BIT00450/wkr0002.pdf

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.

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