Interim Report January – March 2005

Stable earnings trend and continued high sales

- Net sales increased by 4% to SEK 2,054m (1,982) and the number of sold residential units totalled 1,021 (1,265) - Profit after financial items amounted to SEK 155m (148) and profit after tax for the period reached SEK 109m (106). The operating margin amounted to 8.7% (9.9) - Property sales of SEK 352m (404) provided capital gains of SEK 38m (61) - In the past 12-month period, return on equity amounted to 14%. Earnings per share for the first quarter of 2005 amounted to SEK 3.90 (3.80) - A strong cash flow in the first quarter reduced the interest-bearing net debt by SEK 0.5 billion to SEK 0.1 billion For the full report, please see attached PDF file.