Interim report January-September 2004

Interim report January-September 2004 "The employment trend in Sweden remains weak and is not expected to recover until the latter part of 2005", says Håkan Bryngelson, President of Vasakronan. "The rental market is affected adversely by the employment trend. At the same time, Sweden is currently in a period of economic upturn, with continued strong GDP growth of approximately 3.5% in 2004." "The rental market in Stockholm is weak, although vacancies are no longer rising. The market is showing a clear tendency toward differentiating pricing between modern and older premises. Interest in premises has risen slightly in Solna and Kista. In Uppsala, vacancies have increased." "Rents in the Göteborg market are declining slightly. Vacancies in Göteborg city center are expected to increase by about 2% during the next six months." "The rental market in Malmö and Lund was characterized by cautious optimism in 2004. The competitive situation has tightened, with rising demand and significant interest in premises in central parts of Malmö and Lund." · Rental revenues declined to SEK 2,029 M (2,247), mainly as a result of property sales. The rental decline for new and renegotiated leases was 5% (+3). The vacancy rate rose to 13% (10) of rental revenues, primarily due to the acquisition of Kista Science Tower. In August, Vasakronan acquired NCC's remaining shares in Kista Science Tower, based on a market value of SEK 1,208 M. · Income after financial items amounted to SEK 599 M (528). Excluding capital gains, writedowns and reversal of reserves for writedowns pertaining to Kista Science Tower, income amounted to SEK 402 M (508). · The outlook for 2004 remains unchanged. Income after financial items, before capital gains, writedowns and reversal of reserves for writedowns, is forecast to amount to approximately SEK 350 M (585). A complete version of the interim report is available at www.vasakronan.se For further information please contact: Håkan Bryngelson, President and CEO +46 8 783 21 05 Björn Lindström, Chief Financial Officer +46 8 783 21 12 Bengt Möller, Senior Vice President Corporate Communications +46 8 783 21 09 Real offices for real people. Vasakronan AB is one of the leading real estate companies in Sweden. Vasakronan is the largest supplier of commercial premises, primarily office properties, with locations in Stockholm, Göteborg, Malmö, Lund and Uppsala. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/10/27/20041027BIT20740/wkr0001.pdf Vasakronan Interim report January-September 2004

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For updated and current information on Vasakronan please go to http://en.vasakronan.se/ or contact Peter Östman or Rebecca Liljebladh Thorell. Vasakronan is the leading property company in Sweden. Our strategy is to focus on Sweden’s major growth regions: Stockholm, Uppsala, Gothenburg, Malmö and Lund. We own and manage 178 properties with a total area of approx. 2, 4 million square metres (as of June 30, 2017). Many of the properties are situated in clusters and offer supplementary services to the tenants. The property portfolio is valued at SEK 121 billion. Environment and climate work are highly prioritized. Vasakronan is a carbon neutral company and is ISO 14001 certified. We were Sweden’s first property company to offer green leases and in 2013 we issued the world's first green corporate bond. The organization has operations in four regions – Stockholm, Uppsala, Gothenburg and Öresund. The number of employees is approximately 350. Vasakronan is jointly owned by the First, Second, Third and Fourth Swedish National Pension Funds. www.vasakronan.se

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