Drott has sold World Fashion Centre for SEK 835 million

Drott has sold World Fashion Centre for SEK 835 million In line with a previous decision to phase out its portfolio of properties outside Sweden, Drott has sold the World Fashion Centre property in the Netherlands for an amount corresponding to approximately SEK 835 million. With about 85,000 square meters of floor space and some 400 tenants, the World Fashion Centre is one of Europe's largest fashion centers. The sale of the company that owns the property provided Drott with a capital gain of approximately SEK 40 million. The purchaser - a Dutch investor consortium, which exercised the option issued by Drott in December 1999 - will take over the property in January this year. As a result of its acquisition of Näckebro in autumn 1998, Drott became the owner of a substantial portfolio of properties outside Sweden. Following the above sale and the 1999 divestment of 14 properties, Drott now owns only two foreign properties, namely the UT Haus Paris fashion center outside Düsseldorf (18,000 square meters) and the Liertoppen shopping mall outside Oslo (33,000 square meters). These properties are also to be sold. Drott AB (publ) Additional information: Mats Mared, president Tel: +46-8-545 83 010 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/20/20000120BIT00680/bit0001.doc http://www.bit.se/bitonline/2000/01/20/20000120BIT00680/bit0002.pdf