JM's Board Proposes a Convertible Program and a Warrant Program

JM's Board of Directors has decided to propose that the 2009 Annual General Meeting resolve upon a convertible program and a warrant program.

Convertible program and warrant program in brief:

- The Board of Directors proposes that JM raise a convertible debenture loan through the issue of convertible debentures of a maximum of SEK 50 million aimed at all employees in Sweden and the issue of a maximum of 85,000 warrants aimed at all employees outside Sweden.

- Each convertible and warrant entitles the holder to conversion or subscription, respectively, to one share, at a conversion or subscription price equivalent to about 125 percent of the average price paid for shares in JM during the period from May 5, 2009, through May 13, 2009.

- Conversion or exercise may take place from June 1, 2011 through May 24, 2013.

- Through conversion of convertibles or redemption of warrants JM's share capital could increase by a maximum of SEK 625,000, which corresponds with a dilution of about 0.7 percent of share capital and votes in JM.

The Board's complete proposal will be available at JM AB's headquarters, Legal Affairs and Development, Telegrafgatan 4, Solna and on JM's website www.jm.se, as of March 30, 2009.

About Us

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, and Finland. We are also involved in the project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM should promote long-term sustainability work in all of its operations. Annual sales total approximately SEK 16 billion and the company has approximately 2,500 employees. JM AB is a public limited company listed on NASDAQ Stockholm, Large Cap segment. For more information www.jm.se/en.

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