Year-end report 2005

Significantly increased profitability and continued strong sales

-Income increased by 16 percent to SEK 9,887m (8,532) and the number of sold residential units totaled 4,240 (4,315) -Earnings before tax improved substantially to SEK 1,151m (647) and profit after tax for the year rose to SEK 976m (474). The operating margin increased to 12.5 percent (9.3) -Property sales of SEK 1,752m (1,018) provided capital gains of SEK 247m (164) -Return on equity increased to 28.8 percent (14.4). Earnings per share increased to SEK 37.00 (16.90) -Interest-bearing net liabilities decreased by SEK 2.1 billion to an interest-bearing net receivable of SEK 1.5 billion (-0.6). The Group's cash flow, including property sales, was robust and totaled SEK 3.4 billion (2.2) -The Board of Directors proposes a dividend of SEK 10 (7) per share. In addition the Board proposes a distribution of approximately SEK 1.0 billion through redemption of shares corresponding to approximately SEK 40 per existing share. -The Board of Directors proposes a 4:1 share split. Please find attached a full version of the Year-end report (PDF). Future reporting dates April 2006: Printed Annual Report for 2005 available at JM’s head office 27 April 2006: Interim Report January – March 2006 27 April 2006: Annual general meeting will be held at 4 pm in JM’s head office, Telegrafgatan 4, Solna

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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