Hufvudstaden sells Sheraton Gothenburg Hotel & Towers. The sale generates a capital gain of SEK 310 M

Hufvudstaden sells Sheraton Gothenburg Hotel & Towers. The sale generates a capital gain of SEK 310 M Hufvudstaden has reached an agreement covering the sale of the total amount of shares in Hufvudstadens Hotel AB, which owns and operates Sheraton Gothenburg Hotel & Towers, to Nordisk Renting AB* . The purchase price for the shares amounts to approximately SEK 340 M. The sale resulted in a consolidated capital gain for Hufvudstaden of approximately SEK 310 M. Sheraton Gothenburg Hotel & Towers is known to be the best hotel in Gothenburg, with 345 rooms, and it was built by Hufvudstaden in the mid 1980s. Since opening, the hotel has been operated by Sheraton International Management Corporation under a management agreement. "The sale is an important step in Hufvudstaden's strategy to focus on high-quality retail and office properties. We are very pleased that this fine hotel is continuing with a new strong owner," says Tomas Billing, Managing Director of Hufvudstaden. Stockholm, February 24, 1999 Hufvudstaden AB (publ) Tomas Billing Managing Director If any questions, please contact Tomas Billing, telephone +46 8 762 90 00. * The buyer Nordisk Renting AB invites to a press conference today Wednesday at 3.00 p.m. at the hotel. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/1999/02/24/20000904BIT00640/bit0001.doc http://www.bit.se/bitonline/1999/02/24/20000904BIT00640/bit0002.pdf