Ericsson acquires office property in London

Ericsson acquires office property in London Ericsson and NatWest Group Property have agreed "Heads of Terms" to acquire an office property in central London. The property is located at 1, St James's Square and has a total floor area of 9,700 square meters. The building, which is currently under construction, is expected to be ready for occupancy during the second quarter of 1999. The property contains approximately 350 workplaces. The investment amounts to slightly more than SEK 1 billion. The background to the property purchase is that Ericsson sees an increased need to be represented in London, partly in order to be close to important customers, cooperating partners, financial centers and markets. Ericsson already has an extensive organization in the UK, covering research and development as well as production. Parts of Ericsson's companies in the UK will be moving into the property at 1, St James's Square. The extent of possible additional operations at the London office will be decided based on a review of Ericsson's entire organization that is currently in progress. The report is expected to be completed by the beginning of October. Ericsson´s 100,000 employees are active in more than 130 countries. Their combined expertise in fixed and mobile networks, mobile phones and infocom systems makes Ericsson a world-leading supplier in telecommunications. FOR FURTHER INFORMATION, PLEASE CONTACT Pia Gideon, Manager External Relations Phone: +46 8 719 2864 or +46 70 519 2864 E-mail: pia.gideon@lme.ericsson.se