President appointed at Fabege

President appointed at Fabege* * As proposed, Drott AB will change its name to Fabege AB In accordance with the strategy and direction adopted in June 2003, the Board of Directors of Drott AB is implementing a demerger of the Drott Group into two companies: Fabege AB with a focus on commercial properties in the Stockholm area, and Bostadsaktiebolaget Drott with a focus on residential properties in growth regions. The Board will propose to the Annual General Meeting on March 30, 2004 that all shares in Bostadsaktiebolaget Drott be distributed to the shareholders and that the current Drott AB change its name to Fabege AB. In connection with the Board's strategic decision in June 2003, the recruitment process was focused on finding permanent presidents for both Fabege and Bostadsaktiebolaget Drott. On September 1, 2003, Daniel Skoghäll was appointed president of Bostadsaktiebolaget Drott. The Board of Directors has now appointed Lennart Sten as president of Drott AB, which, as proposed, will change its name to Fabege AB. Lennart Sten, 45, was most recently president of GE Capital Real Estate Nordic, a subsidiary of General Electric. At GE Capital, Lennart Sten was responsible for a Swedish real estate portfolio valued at approximately SEK 14 billion. Educated in business law, he also has extensive experience with major law firms. In commenting on the appointment, Chairman Urban Jansson stated: "We are very pleased to be joined by Lennart Sten, a person with long experience in the industry and documented professionalism." Lennart Sten is expected to assume his new responsibilities in connection with the Annual General Meeting on March 30, 2004, whereupon Anders Böös will step down as previously announced. The year-end report for Drott AB will be released on February 19, 2004. The annual report for Drott AB, listing prospectus for Bostadsaktiebolaget Drott and presentation of Fabege AB will be issued during the second week of March 2004. DROTT AB (Publ) Board of Directors For further information, please contact: Chairman Urban Jansson +46 8 769 30 00 President Anders Böös +46 8 769 30 10 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/15/20040115BIT00590/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/15/20040115BIT00590/wkr0002.pdf