Bostads AB Drott has sold five residential properties during the first quarter of the year

Bostads AB Drott has sold five residential properties during the first quarter of the year During the first quarter of 2004, Bostads AB Drott has sold five residential properties for a total of approximately SEK 295 M. The sales generate an accounting gain of SEK 57 M. Of the divested properties, three are located in Stockholm and one each in Djursholm and Malmö. Two of the properties, Pyramiden 4 in Stockholm and Grim 1 in Danderyd, have been sold to tenant-owner associations at an average price exceeding by slightly over 27 percent their independently appraised values at year-end 2003. The three other properties have been sold to private investors. The properties have total rentable space of 21,500 square meters, of which 15,600 sq. m. is residential space. Comment from Bostads AB Drott President Daniel Skoghäll: "These sales follow the plan we have established to divest individual residential properties. We are also happy to note that interest in acquiring residential properties by tenant-owner associations remains very high." 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 1,030,000 sq. m. of rentable space, of which about 875,000 sq. m. is residential. In all, the portfolio contained 12,560 apartments as of March 31, 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/2004/04/05/20040405BIT20400/wkr0006.pdf