Board’s proposal for redemption of shares in JM

As mentioned in the Year-end report 2005 the Board of Directors of JM proposes a redemption program for about SEK 1.0 billion. * The Board proposes a redemption of every fifteenth share for SEK 625 per share * Through the redemption, approximately SEK 1.0 billion is proposed to be transferred to the shareholders. The Board of Directors of JM AB (publ) has today established the conditions for its proposal regarding redemption of shares to the Annual General Meeting to be held on April 27, 2006. According to the proposal, every fifteenth share may be redeemed for SEK 625 in cash. For every share held in JM, one redemption right will be received. Fifteen redemption rights entitle the holder to redeem one share. Assuming full acceptance of the redemption offer, approximately 1.65 million shares will be redeemed and approximately SEK 1.0 billion will be transferred to the shareholders in JM. Time table (assuming the Annual General Meeting’s approval): * Last day of trading shares in JM, including redemption rights: April 27, 2006 * First day of trading shares in JM, excluding redemption rights: April 28, 2006 * Record date for receiving redemption rights: May 3, 2006 * Information brochure and application form distributed: May 8, 2006 * Application period: May 12 – June 8, 2006 * Trading in redemption rights on Stockholmsbörsen: May 12 – June 2, 2006 * Payment of redemption amount is expected to be made at mid-year 2006 A sale of up to 1,000 redemption rights free of commission will be provided through Carnegie Investment Bank AB (publ) (“Carnegie”) during May 12 – May 29, 2006 following a specific application procedure. Shareholders who whish further information regarding the application procedure may call Carnegie at +46 8 588 694 81.