Johan Skoglund to be JM's new president

Johan Skoglund to be JM's new president Johan Skoglund will succeed Carl Eric Stålberg as President of JM AB. Johan Skoglund will take up his post on 1 November 2002. Carl Eric Stålberg is leaving JM in order, with effect from the 2003 annual general meeting, to be Executive Chairman of FöreningsSparbanken. Carl Eric Stålberg will become Executive Deputy Chairman of FöreningsSparbanken on 1 January 2003. Johan Skoglund, 40, has a master's degree in engineering and has been employed within the JM Group since 1986. Johan has held a number of different positions within JM, and has been head of the JM Residential business unit since 2001. "JM stands on a solid foundation and has a strong brand. We have a clear and concrete strategy which we will continue to follow. I look forward to being able to develop the company further along these lines," says Johan Skoglund. "JM has performed extremely well under Carl Eric Stålberg's leadership. He has successfully completed the change in strategy which has transformed JM from a traditional building and property company into a project developer of homes and commercial premises. This means that today JM has good profitability and is the leading housing development company in Scandinavia," says JM's Chairman, Per Westlund. For additional information, please contact: Per Westlund, Chairman of JM AB, telephone +46 8 782 87 02, mobile +46 705 787 856 Carl Eric Stålberg, President, JM AB, telephone +46 8 782 87 02 Johan Skoglund, President-elect, JM AB, telephone +46 8 782 89 39, mobile +46 70582 89 39 Stockholm, 19 September 2002 JM AB Corporate 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/2002/09/19/20020919BIT00360/wkr0001.doc http://www.waymaker.net/bitonline/2002/09/19/20020919BIT00360/wkr0002.pdf

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.

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