JM sells city property for SEK 580m

JM sells city property for SEK 580m In a deal with Ramsbury AB, a company owned by Stefan Persson, JM is selling the site leasehold Beridarebanan 13 on Drottninggatan/Sergelgatan in central Stockholm. The selling price amounts to SEK 580m which provides JM with a capital gain of SEK 60m. "This deal with Stefan Persson is in line with JM's strategy to sell its portfolio of management properties," says JM's business unit manager Sten Hamberg. JM has also sold a number of small properties in Uppsala, Örebro and Karlstad for a total of SEK 99m with a capital gain of approximately SEK 3m. These deals will be reported in the third quarter of 2002. In 2002 so far JM has sold properties for SEK 1,688m, with a capital gain of SEK 269m. For additional information, please contact Sten Hamberg, JM AB, telephone +46 8 782 88 52 or Eva Eriksson, JM AB, telephone +46 8 782 88 99 Stockholm, 21 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:

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, 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.