Interim report January – March 2006

• Rental revenue for the period totaled SEK 44.1 M (42.3 pro forma for the corresponding period in 2005).

• Income from property management for the period totaled SEK 16.0 M (22.3 pro forma), or SEK 1.38 per share (1.93 pro forma). Expenses in conjunction with the stock exchange listing are included in earnings in the amount of SEK -9.4 M (0.0). Income from property management for the period, excluding these expenses, totaled SEK 25.4 M (22.3 pro forma), or SEK 2.20 per share (1.93 pro forma).

• Profit after tax for the period amounted to SEK 48.9 M (77.4 pro forma) or SEK 4.23 per share (SEK 6.69 pro forma).

• Profit before tax for the period was SEK 67.5 M (107.6 pro forma). Profit for the period includes unrealized value changes in property of SEK 51.5 M (85.3 pro forma) and expenses in conjunction with the stock exchange listing in the amount of SEK -9.4 M (0.0 pro forma).

• A shareholder contribution was received during the period amounting to SEK 53 M (0.0 pro forma)

”The value of our properties has risen by SEK 51.5 M during the first quarter. The change in value is due primarily to the lower yield requirement imposed by investors, especially for our properties in the Oslo region. The properties were valued by independent appraisers”, commented Peter Hallgren, President and Chief Executive Office.

Göteborg, May 17, 2006