LRF Fastigheter AB implements offer for Mandamus

This Offer is not intended for individuals whose participation requires additional prospectuses, registration or measures other than those stipulated by Swedish law. This press release may not be distributed to or released in the United States, Canada, Japan or Australia or in any other jurisdiction where its distribution or the Offer require measures in accordance with the previous paragraph or violate the rules in such a jurisdiction. PRESS RELEASE May 28, 2003 LRF Fastigheter AB implements offer for Mandamus · LRF Fastigheter AB is implementing its offer for Mandamus despite having not met the condition that LRF Fastigheter AB obtain ownership of shares representing more than 50 percent of the total number of shares and votes in Mandamus. · In total, 12,757 shareholders in Mandamus have accepted the Offer. LRF Fastigheter AB's ownership interest, together with that of LRF, amounts to 43.0 percent of the total number of shares and votes in Mandamus. · Shareholders who have accepted LRF Fastigheter AB's Offer will receive SEK 84 per share, as provided in the Offer. The settlement day for the proceeds is tentatively scheduled for June 3, 2003. · Following implementation of the Offer, LRF signed an agreement with Akelius Kontor AB on the sale of the entire LRF Group's shareholding in Mandamus to Akelius Kontor AB. During the acceptance period, which expired on May 21, 2003, holders of 3,002,603 shares, representing 14.6 percent of the total number of shares and votes in Mandamus Fastigheter AB ("Mandamus"), accepted the Offer. Together with the 5,829,941 shares that Lantbrukarnas Ekonomi Aktiebolag (publ) ("LRF") and its subsidiaries own, this totals 8,832,544 shares, representing 43.0 percent of the total number of shares and votes in Mandamus. Consequently, the condition that the Offer be accepted to an extent that LRF Fastigheter AB obtains ownership of shares representing more than 50 percent of the shares and votes in Mandamus has not been met. As a result, Stena Fastigheter AB has notified LRF that it does not wish to implement the Offer. LRF Fastigheter AB has decided to implement the Offer itself, despite that all the conditions of the Offer have not been met. Financing to implement the Offer has been secured by LRF. The settlement day for the proceeds is tentatively scheduled for June 3, 2003. In order to resolve the situation in a way beneficial to Mandamus's shareholders, LRF has reached an agreement with Akelius Kontor Aktiebolag whereby LRF, after the Offer has been implemented, will transfer all the above-mentioned 8,832,544 shares to Akelius Kontor Aktiebolag. Possession of shares will pass to the latter company no later than September 1, 2003. By way of the agreement with Akelius, LRF Fastigheter AB and LRF and its subsidiaries will sell all the shares in Mandamus they acquired as part of the Offer as well as their previously owned shares. The LRF Group thus will no longer have any remaining ownership interest in Mandamus. "This solution is good for LRF and, in our opinion, for other shareholders as well," says LRF President Leif Zetterberg, who is also Chairman of Mandamus. "We have wanted to protect our investment in Mandamus and the value of the shares held by other shareholders. We have now succeeded in doing just that." During the period March 20, 2003 - May 21, 2003, LRF Fastigheter AB acquired outside the Offer 188,268 shares at a price as high as SEK 84, which represents 0.9 percent of the total number of shares and votes. Stockholm, May 28, 2003 LRF Fastigheter AB Board of Directors ................................................ Contacts Lantbrukarnas Ekonomi Aktiebolag (publ) Corporate registration number: 556032-9269 SE-105 33 Stockholm Sweden Contact: Leif Zetterberg Telephone: +46 8 787 54 69 President +46 70 588 41 84 LRF Fastigheter AB Corporate registration number: 556640-8695 SE-105 33 Stockholm Sweden Contact: Lars Holmgren Telephone: +46 8 787 51 10 Chief Financial Officer +46 70 575 35 45 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/05/28/20030528BIT00900/wkr0001.doc http://www.waymaker.net/bitonline/2003/05/28/20030528BIT00900/wkr0002.pdf