Interim Report January – June 2009

Improved sales in Sweden and Norway

- Revenues fell 35 percent to SEK 4,421m (6,829) and the number of residential units sold increased to 1,504 (1,294) - Profit before tax dropped to SEK 87m (1,014) and the profit after tax fell to SEK 61m (727). Write-downs of SEK 87m (0) for development properties were charged against operating profit. Operating margin decreased to 3.4 percent (14.9) - Property sales of SEK 166m (73) resulted in gains of SEK 41m (21) - Return on equity for the past twelve months was 4.7 percent (46.8). Earnings per share during the first six months of the year amounted to SEK 0.70 (8.20) - Consolidated cash flow including net investment in properties totaled SEK 165m (55).