Wallenstam's redemption program adopted

Wallenstam's redemption program adopted The General Meeting took place in Gothenburg on 16 November. The General Meeting voted in favour of the proposal presented by the Board of Directors. This proposal concerned a redemption of shares for about SEK 90 million. Every twentieth share will be redeemed at a price of SEK 95 which is equivalent to Wallenstam's net asset value after full tax as of 30-06-1999. After redemption, Wallenstam's adjusted equity ratio will be 29%. Shareholders registered on the record date, 22 November, 1999, will receive one redemption right per share. 20 redemption rights will entitle the holder to the redemption of one share at a price of SEK 95. The following timetable applies: Last day for trading in shares, including redemption rights 18 November, 1999 Record day 22 November, 1999 Trading in redemption rights 26 November-16 December, 1999 Notification period for redemption 26 November-21 December, 1999 Extraordinary general meeting decides on redemption mid-January, 2000 Payment to shareholders about May, 2000 Detailed information about the redemption program will be sent to all directly registered shareholders at the end of November. This information can also be ordered from Josefin Andreasson on +46-31 100 200 or via e-mail: josefin.andreasson@wallenstam.se Lennart Wallenstam Byggnads AB Wallenstam was founded in 1944 in Gothenburg and is one of Sweden's major dedicated property companies with more than 300 properties in the three major urban areas Gothenburg, Stockholm and Helsingborg. The company's portfolio is dominated by residential properties which respresent about 65% of the total floor space and 70% of the rental income. Commercial properties are located primarly in Gothenburg. The company's series B-shares have been publicly listed at the Stockholm Stock Exchange since 1984. Gothenburg, 17 November, 1999 For further information, please contact Thomas Dahl, Director of Marketing and Information, phone +46 (0)31 200 000 or +46 705 171 142. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/11/17/19991116BIT00740/bit0001.doc http://www.bit.se/bitonline/1999/11/17/19991116BIT00740/bit0002.pdf

About Us

Wallenstam is a property company that manages, builds and develops properties for sustainable living and enterprise in Stockholm, Gothenburg and Uppsala. The property holdings are valued at around SEK 40 billion and the customer base consists of about 7,700 households and 1,000 enterprises. The total lettable area is around 1 million sq m. Wallenstam is self-sufficient in renewable energy through the company and its own wind turbines in operation. The company’s B shares have been listed on Nasdaq Stockholm since 1984.