Annual General Meeting JM

The Annual General Meeting of JM AB held on 28 April 2005 approved the Board’s proposed dividend of SEK 7 per share. The record date for payment of dividends was decided as Tuesday, 3 May 2005. Board Members Elisabet Annell, Bengt Larsson, Berthold Lindqvist, Johan Skoglund and Torbjörn Torell were re-elected as members of the Board. Lars Lundquist (until year-end 2004 Chief Financial Officer and Executive Vice President of SEB, Chairman of the Board of ERIKA Försäkrings AB and a member of the boards of Gamla Livförsäkrings AB SEB Trygg Liv, Commet AB and Hjärt-Lungfonden) was elected as the new Chairman of the Board. Jens Engwall (President and board member of property company Kungsleden AB and member of the boards of Fast Partner AB and Vasallen AB), Eva-Britt Gustafsson (President of the credit market company Venantius AB and Chairman of the Board of Specialfastigheter Sverige AB and member of the boards of AP6 and Euler-Hermes Scandinavia Kreditförsäkring AB) were elected as new members of the Board. Nomination Committee It was resolved that a Nomination Committee be formed by the four largest shareholders, who wish to participate, at least six months prior to the Annual General Meeting each appointing their representative, who may not be a member of the Company’s Board. The Chairman of the Board shall be the convener for the first meeting. The Chairman of the Nomination Committee shall be the member who represents the largest shareholder, unless otherwise agreed by the members. The Nomination Committee’s mandate period extends until a new Nomination Committee has been appointed. The composition of the Nomination Committee will be announced no later than the date of publication of the Company’s report for the third quarter. Redemption programme It was resolved to carry out a distribution to the Company’s shareholders through a redemption programme of approximately SEK 1 billion, which means that the share capital will be reduced by SEK 14,032,700 through redemption of 3,508,175 ordinary shares in the Company at a redemption amount of SEK 285 per share. As part of the redemption programme and to enable expeditious payment to shareholders, it was resolved to adopt an amendment to the articles of association, Section 4, whereby the highest number of class C shares that can be issued is changed from 3,324,100 to 4,677,568. As a consequence of the redemption programme the limits for the size of the share capital were changed to a minimum of SEK 95 million and a maximum of SEK 380 million. As part of the redemption programme and in order to enable expeditious payment to shareholders, it was resolved to make a directed new issue to Carnegie Investment Bank AB (publ) of 3,508,175 redeemable class C shares, which will be subscribed at a nominal amount, SEK 14,032,700. Finally, it was resolved to reduce the share capital by SEK 14,032,700 through redemption of all class C shares at the same time as a corresponding amount is placed in the statutory reserve. Extract from JM President, Johan Skogslund’s address to the Annual General Meeting: “Our efforts in 2004 have laid the foundation for sustained good profitability in 2005. We can see a continued strong housing market and anticipate a stable price trend for the rest of the year. But we can only retain our strong market position if we continue to develop what makes us unique. Work close to customers, improve our customer offering and continue to identify new growth areas before our competitors. “JM will continue to develop good design and become even better at industrialising our processes. This means we will work with fewer platforms and components while developing our purchasing and logistics strategy. Taken together, all this means a more efficient, more customer-oriented and more profitable JM. Stockholm, 28 April 2005 JM AB Corporate Communications