Columna Fastigheter acquires two properties in Brussels

* Columna Fastigheter acquires two properties in Brussels * Sampo-Gruppen becomes a new, major shareholder in Columna Fastigheter Columna Fastigheter has acquired two office properties in Brussels from Sampo- Gruppen of Finland for a total of BEF 520 million (approx. SEK 114m). The properties amount to some 7,350 square metres rental space in all. The property at Avenue Hermann Debroux 15 (4,666 sq.m.) is approximately 50% let and is situated by the E411 some two kilometres from the centre of Brussels. The property at Airway Park (2,680 sq.m.) is situated about five minutes' drive from Brussels international airport. Compaq, which is currently leasing all the offices in the property, will probably be moving out at the end of the year. As the rental market in the area is good, we expect the property to be let at the beginning of next year. Columna Fastigheter will take possession of the properties today, 14 September 1999. Fully let, the rental income from both properties will amount to BEF 45 million (approx. SEK 10m) with a yield of approximately 7.5%, based on the purchase price of BEF 520 million and estimated additional costs of further letting. The deal will be financed by loans (BEF 260 million) and a non-cash issue of 75,981,578 Class B shares in all at a net worth of BEF 260 million (approx. SEK 57m), bringing the total number of shares in Columna Fastigheter up to 974,050,300. As part of the payment will be made up of a new issue of shares in Columna Fastigheter, the groupwise book acquisition value for both properties will be BEF 410 million BEF (approx. SEK 90m). The deal will make the Finnish Sampo-Gruppen one of Columna Fastigheter's largest institutional shareholders, with some 7.8% of the capital. The issue will be made to Kaleva Mutual Insurance Company, which is part of the Sampo- Gruppen group. The deal will enable the group to dispose of its directly owned properties in Brussels, in line with its corporate strategy, but retain its exposure to the property market by way of its shareholding in Columna Fastigheter. COLUMNA FASTIGHETER AB (publ) Stockholm 1999-09-14 For further information, please contact: Rolf L. Nordström, Chairman +46 (0)8-679 05 90 (telephone), +46 (0)70-629 05 94 (mobile) ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/09/14/19990920BIT00250/bit0001.doc http://www.bit.se/bitonline/1999/09/14/19990920BIT00250/bit0002.pdf