Year-end report 2005

Significantly increased profitability and continued strong sales

-Income increased by 16 percent to SEK 9,887m (8,532) and the number of sold residential units totaled 4,240 (4,315) -Earnings before tax improved substantially to SEK 1,151m (647) and profit after tax for the year rose to SEK 976m (474). The operating margin increased to 12.5 percent (9.3) -Property sales of SEK 1,752m (1,018) provided capital gains of SEK 247m (164) -Return on equity increased to 28.8 percent (14.4). Earnings per share increased to SEK 37.00 (16.90) -Interest-bearing net liabilities decreased by SEK 2.1 billion to an interest-bearing net receivable of SEK 1.5 billion (-0.6). The Group's cash flow, including property sales, was robust and totaled SEK 3.4 billion (2.2) -The Board of Directors proposes a dividend of SEK 10 (7) per share. In addition the Board proposes a distribution of approximately SEK 1.0 billion through redemption of shares corresponding to approximately SEK 40 per existing share. -The Board of Directors proposes a 4:1 share split. Please find attached a full version of the Year-end report (PDF). Future reporting dates April 2006: Printed Annual Report for 2005 available at JM’s head office 27 April 2006: Interim Report January – March 2006 27 April 2006: Annual general meeting will be held at 4 pm in JM’s head office, Telegrafgatan 4, Solna