Kungsleden’s first quarter: Earnings after financial items SEK 129 m

• Profit after financial items was SEK 129 (83) m and net profit was SEK 114 (142) m, equivalent to SEK 6.00 (7.50) per share.

• Kungsleden’s rental revenues and operating net increased by 4 per cent and 4 per cent, to SEK 382 (369) m and SEK 264 (253) m respectively.

• Six properties were divested for SEK 155 m in the period, generating profits of SEK 20 m and a cash flow of SEK 30 m; 70 properties were acquired for SEK 2,357 m.

• Kungsleden is reiterating its forecast of profit for calculating dividends of SEK 600 m for the financial year 2005.

“The result of our property trading improved considerably, despite the fact that we only sold six properties for a total of SEK 155 million. Meanwhile, we acquired as many as 70 properties for a total of SEK 2.4 billion and thereby laid the foundation for the new business area Care Properties. These properties fit well into our business concept of owning and managing real estate generating high and stable returns”, says Jens Engwall, CEO, commenting on the first quarter.

For further information, please contact:
Jens Engwall, CEO, phone: +46 (0)8 503 05204, mobile +46 (0)70 690 6550
Johan Risberg, CFO, phone: +46 (0)8 503 05206, mobile +46 (0)70 690 6565

This press release and the financial statement are available in Swedish at www.kungsleden.se