Board’s proposal for redemption of shares in JM

As mentioned in the Year-end report 2006 the Board of Directors of JM proposes a redemption program for about SEK 1.0 billion.

* The Board proposes a redemption of every twenty-seventh share for SEK 300 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 has today established the conditions for its proposal regarding redemption of shares to the Annual General Meeting to be held on April 26, 2007. According to the proposal, every twenty-seventh share may be redeemed for SEK 300 in cash. For every share held in JM, one redemption right will be received. Twenty-seven redemption rights entitle the holder to redeem one share. Assuming full acceptance of the redemption offer, approximately 3.4 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 26, 2007
* First day of trading shares in JM, excluding redemption rights: April 27, 2007
* Record date for receiving redemption rights: May 2, 2007
* Information brochure and application form distributed: May 7, 2007
* Application period: May 11 – June 7, 2007
* Trading in redemption rights on Stockholmsbörsen: May 11 – June 1, 2007
* Payment of redemption amount is expected to be made by the end of august 2007

A sale of up to 4,000 redemption rights free of commission will be provided through Carnegie Investment Bank AB (publ) (“Carnegie”) during May 11 – May 28, 2007 following a specific application procedure.

Shareholders who whish further information regarding the application procedure may call Carnegie at +46 8 588 694 86.