Statement by Diligentia's Board of Directors regarding the takeover offer from Skandia Liv

Statement by Diligentia's Board of Directors regarding the takeover offer from Skandia Liv Livförsäkringsaktiebolaget Skandia has issued a public offer to the shareholders of Diligentia AB to tender their shares. Shareholders of Diligentia are being offered SEK 90 in cash for each of their shares, including any dividend paid for the financial year 1999. The offer is conditional on, among other things, its acceptance by more than 90% of the shares. With reference to Skandia's offer, the Board of Directors of Diligentia offers the following statement: The Board of Directors would point out that Diligentia's net asset value at year-end 1999 amounted to an estimated SEK 114 per share. In the opinion of the Board of Directors and management, it would be possible to realize this value by gradually winding up the company over a period of three to four years. At the same time, however, the Board of Directors feels that such a plan requires the support of a majority of the shareholders, which it has not been able to attain to date. The Board of Directors and management have also analyzed opportunities to bring in alternative acquirers, although this has not led to any alternatives as yet. In light of the net asset value of the Diligentia share, the Board of Directors would welcome a higher offer. However, Skandia's offer of SEK 90 is the best to date. As long as no better offer is available, the Board of Directors of Diligentia recommends that the shareholders of Diligentia accept Skandia's offer. Stockholm, April 28, 2000 Diligentia AB (publ) Board of Directors Contact person: 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, e-mail: diligentia@diligentia.se Diligentia is one of Sweden's largest real estate companies. The book value of the Group's Swedish property portfolio amounted to SEK 11,325 million on March 31, 2000. The book value of the international properties amounted to SEK 405 million. Diligentia's overall strategy is to concentrate and develop its operations in select market sectors in Stockholm, Gothenburg and the Öresund region. Diligentia is listed on the A-list of the Stockholm Stock Exchange. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/28/20000428BIT00310/bit0001.doc http://www.bit.se/bitonline/2000/04/28/20000428BIT00310/bit0002.pdf