Wallestam begins redemption of shares

Wallestam begins redemption of shares In the light of the fact that Wallenstam shares are being traded at a net worth discount of about 70%, Wallenstam has decided to begin its redemption of 10% of the outstanding shares in the Company. The purpose of this redemption is to distribute the net worth discount of the redeemed shares among existing shareholders at the same time as several of the Company's key figures, including the profit per share, continue to improve. The value of the Company's properties continues to rise and it anticipates a property management profit of SEK 100 million before depreciation for the year 2000. Lennart Wallenstam Byggnads AB Gothenburg, 30 August, 2000 For further information, please contact Thomas Dahl, Marketing and Information Director, phone: +46-31 200 000 or +46-705 171 142. Wallenstam was established in 1944 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 focus of the Group's portfolio is residential and commercial properties. The Group's rental income is about SEK 800 million and the value of its property portfolio is about SEK 7.5 billion. Wallenstam's Series B shares have been listed on the Stockholm Stock Exchange since 1984. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/08/30/20000830BIT00450/bit0001.doc http://www.bit.se/bitonline/2000/08/30/20000830BIT00450/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.