JM sells properties for around MSEK 1,150 # capital gain of MSEK 145

JM sells properties for around MSEK 1,150 - capital gain of MSEK 145 In a transaction with Kungsleden, JM has divested 15 properties in the greater Stockholm area, Uppsala, Norrköping, Gothenburg, Mölndal and Västerås. The properties contain assisted living facilities for seniors and were developed and built by JM in association with the affected municipalities. The sales price of MSEK 1,119 will provide JM with a capital gain of MSEK 130. MSEK X of the sales price and MSEK Y of the capital gain refer to properties which JM acquired through the exercise of options in connection with the transaction and then sold to Kungsleden. Parallel to the deal, Kungsleden is starting up a new real estate company for long-term ownership of senior living facilities. JM is highly optimistic about Kungsleden's new venture and discussions are underway for a long-term collaboration in which JM can supply the company with fully developed properties. A collaboration of this type would be advantageous for JM's ongoing focus on housing adapted for the rising share of seniors in society. In a transaction with a smaller real estate company JM has sold an office complex in Täby for MSEK 28, yielding a capital gain of MSEK 15. "JM is continuing its strategic divestment of fully developed properties down to a planned level of around SEK 2 billion", says JM's business unit manager Sten Hamberg. So far this year JM has sold properties for close to SEK 4 billion and a combined capital gain of MSEK 934. 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, 15 November 2001 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/2003/08/18/20030818BIT01540/wkr0001.doc http://www.waymaker.net/bitonline/2003/08/18/20030818BIT01540/wkr0002.pdf