Fabege sells two residential properties

Fabege sells two residential properties for a gain of SEK 70 M Fabege has sold two residential properties in Stockholm for a total of SEK 190 M. The price is 28 percent higher than the properties' independently appraised market values as of December 31, 2003. The properties - Kvadraten 35 and Pilen 7 - have total rentable space of 8,800 square meters, of which 6,900 sq. m. is residential space. The buyers are tenant-owner associations and the closings are scheduled for March 31, 2004 and April 1, 2004. Of the capital gain of SEK 70 M, SEK 58 M accrues in the first quarter and SEK 12 M in the second quarter. Fabege's interim report for January-March will be released on May 10, 2004. Fabege AB (publ) For further information, please contact: President Lennart Sten, +46 8 769 30 10 Attachment: List of property sales thus far in 2004. Fabege owns and manages commercial properties in the Stockholm region. The focus is on properties that, through enhancements, development or area-specific circumstances, have the potential to contribute positively to cash flow and appreciation in value. The portfolio is concentrated in Stockholm, Kista and Marievik. The aggregate value of Fabege's property portfolio amounts to slightly over SEK 18 billion, with about 1.3 million square meters in rentable space (Dec. 31, 2004). Fabege is one of Sweden's largest real estate companies and is listed on the Stockholm Stock Exchange's O-list. Attachment List of property sales thus far in 2004 Properties sold January-March 2004 Property Seller Rentab Of which No. of Pric Press le residential apart- e release space sq. m. ments SEK sq. m. M Pyramiden4 Södermalm BABD 4 198 2 904 39 90 Feb. 19, 2004 Gullfaxe 4 Danderyd BABD 960 493 5 13 Feb. 19, 2004 Berget 2 Vasastan BABD 1 515 660 10 24 March 30, 2004 Delfinen 14 Malmö BABD 6 004 3 342 44 55 March 30, 2004 Forellen 16 Östermalm Fabege 5 799 3 287 35 110 March 30, 2004 Sjökatten 14 Vasastan Fabege 1 249 - - 22 March 30, 2004 Grim 1 m fl Danderyd BABD 8 794 8 225 131 113 April 5, 2004 Kvadraten 35 Södermalm Fabege 7 218 5 825 75 158 May 4, 2004 Total 35 737 24 736 339 585 In January-March, the Group sold eight properties for a total of SEK 585 M (exceeding by 27 percent their independently appraised market values as of December 31, 2003). For the quarter, the Group reported consolidated capital gains of SEK 202 M before tax (SEK 102 M excluding Bostads AB Drott). Bostads AB Drott was separated from the Group on April 2, 2004. Properties sold April 2004 Property Selle Renta Of No. Price Press r ble which of SEK M release space residen apar sq. tial t- m. sq. m. ment s Pilen 7 Norrmalm Fabege 1 573 1 078 18 33 May 4, 2004 Following the above sale, the Group disposed of three of the 12 residential properties in downtown Stockholm that it had retained when Bostads AB Drott was distributed to the shareholders. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/05/04/20040504BIT00250/wkr0001.doc http://www.waymaker.net/bitonline/2004/05/04/20040504BIT00250/wkr0002.pdf