JM acquires large land area for project development in Gustavsberg, Värmdö, in the Stockholm archipelago from Gyllenfors

JM acquires large land area for project development in Gustavsberg, Värmdö, in the Stockholm archipelago from Gyllenforsen Fastigheter JM and Gyllenforsen have signed a declaration of intent for an exchange transaction through which JM will acquire the subsidiary Gyllenforsen Fastigheter i Gustavsberg AB, with around 1,550 hectares of undeveloped land, a residential portfolio of approximately 700 apartment units and some 50,000 sq.m. of commercial space. In exchange, Gyllenforsen will receive fully developed properties in the greater Stockholm area. "This deal should be seen as yet another example of JM_s competence as a project developer. Over the past few years JM has developed more than 400 apartment units in the picturesque Farsta Slottsvik area of Gustavsberg. We see ample opportunities to continue developing residential properties in this Stockholm suburb at the edge of the archipelago," says JM_s Vice President Magnus Key. [REMOVED GRAPHICS] For additional information, contact Magnus Key, telephone +46-8-782 87 08, Regional Manager Sören Bergström, telephone +46-8-782 88 84 or Gyllenforsen_s President Sören Nordström, telephone +46-8-545 153 30/+46- 70-636 74 50. Stockholm, 25 February 2000 JM AB Group Staff Communications This and earlier press releases are also available at www.jm.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/08/18/20030818BIT00140/wkr0001.doc