Year-end report for 1999

Year-end report for 1999 JM' s earnings up 83 per cent to SEK 13.30 per share - Profit after financial items amounted to MSEK 634 (335). - Profit in construction operations, primarily residential project development, rose to MSEK 330 (185), a 78-per cent increase. The margin improved to 6.5 (4.7) per cent. - Profit in property management operations was MSEK 737 (575). - The Board proposes a dividend increase of SEK 3.50 to SEK 6.75. Group profit in 1999 The JM Group's profit after financial items amounted to MSEK 634 (335). Net financial items for the period showed a deficit of MSEK 356 (-351), a deterioration of MSEK 5. Costs of MSEK 13 for early redemption of loans and MSEK 4 for taking out mortgage deeds were charged to net financial items. Net profit for the period amounted to MSEK 441 (241) after tax of MSEK 193 (94). Property tax of MSEK 37 (43) was charged to operating profit in property management. Earnings per share after tax amounted to SEK 13.30 (7.25). The year's return on shareholders' equity was 15 per cent. Average return over the past five calendar years has been 13 per cent. The Group's targeted average return over the course of an economic cycle is 15 per cent. [REMOVED GRAPHICS] Stockholm, 22 February 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/2003/08/18/20030818BIT00540/wkr0001.doc http://www.waymaker.net/bitonline/2003/08/18/20030818BIT00540/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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