JM acquires waterfront land in Gothenburg

JM acquires waterfront land in Gothenburg JM AB is to acquire waterfront land for SEK 56.3m for an additional 130 tenant-owned apartments in Västra Sannegårdshamnen in Gothenburg. The seller is Norra Älvstrandens Utvecklings AB. Västra Sannegården will be a green area by the sea. The streets will be planted with trees and parks will be laid. The buildings will have terraces and front gardens. Most of the apartments will have a total or partial sea view. JM is building a total of approximately 400 tenant-owned apartments in the area. The order value is SEK 1,000m and the entire project is scheduled for completion in 2007. For additional information, please contact : Lars Redig, Head of Department at JM AB, telephone +46 31-703 57 26 or Anders Lundberg, Regional Manager JM AB, telephone +46 31- 703 57 25. Stockholm, 26 August 2002 JM AB Corporate Communications This and earlier press releases are also available at ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM seeks to promote long-term quality and environmental considerations in all its operations. Annual sales total approximately SEK 17 billion and the company has about 2,500 employees. JM is a public limited company listed on NASDAQ OMX Stockholm, in the Large Cap segment.