Sale of World Fashion Centre in Amsterdam under way

Sale of World Fashion Centre in Amsterdam under way Drott has reached an agreement that provides a private consortium of Dutch investors with the right to aquire the World Fashion Centre in Amsterdam during February 2000 at the latest, at a price that will be higher than the property's book value in Drott's accounts. The sale will be effected by Drott transferring to the purchaser an option to acquire shares in the company that owns the World Fashion Centre. The consortium has payed SEK 78 million for the option. The sales price for the company entails that the properties are valued at a price that exceeds the book value in Drott's accounts (approx. SEK 800 million). The whole transaction will affect Drott's earnings in 2000. With approximately 85,000 square meters of floor space and some 400 tenants, the World Fashion Centre is one of Europe's largest fashion centers. Annual rental revenue in 1999, including vacant space, is about SEK 100 million. The revenue-based occupancy rate is currently 85%. Drott AB (publ) Additional information: Mats Mared, president Tel: +46-8-545 83 010 Drott is a pure real estate company that focuses on the Swedish market. The Company's mission is to generate a high return to the shareholders through management of its own real estate and through real estate transactions. With the support of satisfied tenants, profitable properties and a strong position in growth markets - mainly for offices and housing - Drott aims to secure a rising operating surplus per property combined with growth in cash flow per share. On September 30, 1999, Drott owned 539 properties with approximately 2,9 million m 2 of rentable floor space, of which housing (about 18,200 apartments) accounted for about 1.2 million m2 . Contracted annual rental revenues from these properties amount to approximately SEK 2.7 billion, with the Stockholm area accounting for approximately half. Drott has about 300 employees. The Company has 55,000 shareholders and is the largest real estate company on 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/1999/12/17/19991217BIT00430/bit0001.doc http://www.bit.se/bitonline/1999/12/17/19991217BIT00430/bit0002.pdf