Diligentia sells Sweden Center Building in Tokyo for SEK 332 million

Diligentia sells Sweden Center Building in Tokyo for SEK 332 million and a capital gain of SEK 71 million Diligentia has sold the Sweden Center Building in Tokyo for SEK 332 million generating a capital gain of SEK 71 million. Closing on the property is scheduled for April 27, 1999. The buyer of Sweden Center Japan KK, containing the Sweden Center Building, 11-9 Roppongi, Minato-ku, is Mori Building Co., one of Japan's largest property owners and developers. The buyer owns and is actively promoting the restructuring of the business area in which the Sweden Center Building is located. The property contains a total of approximately 4,700 square meters of commercial and residential area. The building, which is eight stories high, has an office hotel for Swedish businesses and is designed as a center and meeting place for companies with ties to Scandinavia. Today's sale is the result of the contact established many years ago with the well-respected Mori Building Co. The sales price of SEK 332 million exceeds the Group's book value by SEK 71 million. The Group's net profit, after estimated Japanese capital gains tax of SEK 67 million, amounts to approximately SEK 4 million. The property was acquired and the building constructed in 1970 by, among others, Fastighetsaktiebolaget Hufvudstaden. In 1987 Hufvudstaden became the sole owner of the property. In connection with Hufvudstaden's spin-off of Hufvudstaden International AB in 1997, Diligentia acquired Hufvudstaden International and the Sweden Center Building was added to the Group's international portfolio. During the past three years Carl Larsson has been responsible for the Sweden Center Building. Due to the sale of the property he will return to Sweden, where he will continue to work for the Diligentia Group, primarily with the management and divestment of the Group's international properties. Stockholm, February 1, 1999 Diligentia is one of Sweden's largest real estate companies. The book value of the Group's Swedish property portfolio amounted to approximately SEK 10 billion on September 30, 1998. The book value of the international properties amounted to approximately SEK 1.5 billion. Diligentia's overall strategy is to concentrate its operations on select market sectors in Greater Stockholm, Greater Gothenburg and the Öresund region. Diligentia is listed on the A-list of the Stockholm Stock Exchange. For further information, please contact: Mats Cederholm, Managing Director and Chief Executive Officer of Diligentia AB, telephone: +46 8 5875 8110, +46 70 426 8110 Göran O. Westerberg, Head of Group Communications and Investor Relations, telephone: +46-8-5875 8120 or +46-70-426 8120 e-mail: goran.westerberg@diligentia.se www.diligentia.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/01/19990201BIT00450/bit0001.doc http://www.bit.se/bitonline/1999/02/01/19990201BIT00450/bit0002.pdf