Bostads AB Drott continues to sell properties to tenant-owner associations

Bostads AB Drott continues to sell properties to tenant-owner associations In April, Bostads AB Drott sold four residential properties for a total of SEK 155 M to tenant-owner associations. The sales generated an accounting gain of SEK 26 M. All the properties are located in Stockholm municipality. The properties have been sold at an average price exceeding by slightly over 20 percent their independently appraised values at year-end 2003. The properties have total rentable space of 7,900 square meters, of which 6,500 sq. m. is residential space Thus far this year, Bostads AB Drott has sold nine properties for a total of SEK 450 M. The sales have been completed at prices that exceeded the properties' estimated market values at year-end 2003 by nearly 23 percent and resulted in an aggregate capital gain of SEK 83 M. Comment from Bostads AB Drott President Daniel Skoghäll: "There is a great deal of interest among tenant-owner associations in buying residential properties, which is underscored by the sales this spring. We will continue to sell individual residential properties in cases where we do not feel we can take advantage of management efficiencies or that lack development potential." For further information, please contact: Daniel Skoghäll, President, telephone + 46 8 508 93 010 Bengt Evaldsson, CFO, telephone + 46 8 508 93 020 Bostadsaktiebolaget Drott (publ) owns, manages and develops residential properties in Sweden's growth regions. The Group's property portfolio comprises a total of approximately 1,020,000 sq. m. of rentable space, of which about 868,000 sq. m. is residential. In all, the portfolio contained 12,435 apartments as of April 30, 2004. The company's shares will be listed on the Stockholm Stock Exchange's O-list as of May 6, 2004. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/05/04/20040504BIT21100/wkr0006.pdf