JM sells properties for approx. MSEK 630 and obtains capital gain of MSEK 164

JM sells properties for approx. MSEK 630 and obtains capital gain of MSEK 164 JM has sold the Hägern Större site leasehold with around 10,000 sq.m. of office space on Drottninggatan in Stockholm for MSEK 385 and a number of residential and commercial properties on Värmdö for MSEK 141 to Stena Fastigheter AB. In another transaction, JM has sold the Vårdaren and Vårdträdet site leaseholds with 119 apartments in the Bromma area of Stockholm for MSEK 103 to Stiftelsen Arbetarbostadsfonden in Stockholm. The combined purchase price for the properties is MSEK 629 providing JM with a capital gain of MSEK 164. The ongoing disposal of fully developed properties is an important part of JM's role as a project developer, since the proceeds of these sales are reinvested in new development projects. So far this year, JM has sold properties for a total of SEK 1.75 billion with a capital gain of MSEK 422. For additional information, contact Sten Hamberg, JM AB, tel: +46-8-782 88 52. Stockholm, 23 August 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.