Zdravko Markovski new head of JM Residential business unit

Zdravko Markovski new head of JM Residential business unit Zdravko Markovski, 38, has a master's degree in engineering and has been employed within the JM Group since 1987. He has held a number of positions at JM, where he has been a regional manager since 2000. Zdravko Markovski will succeed Johan Skoglund as the new head of the JM Residential business unit on 1 November. Johan Skoglund, as previously announced, will take over as President and CEO after Carl Eric Stålberg. For additional information, please contact: Zdravko Markovski, head-elect of JM Residential, JM AB, telephone +46 18- 66 03 23 Johan Skoglund, President-elect, JM AB, telephone +46 8 782 89 39 Stockholm, 29 October 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/2002/10/29/20021029BIT00740/wkr0001.doc http://www.waymaker.net/bitonline/2002/10/29/20021029BIT00740/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, 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.