Näckebro's purchase of Fabege completed

Näckebro's purchase of Fabege completed The application period for Näckebro's offer to owners of shares and convertible debentures in Fabage expired on 18 July 1997. The offer has met with such extensive acceptance that Näckebro now finds itself the owner of 95,8 per cent of all the shares in Fabage, with 92,1 per cent or the total voting rights. In addition Näckebro has become the owner of all convertible debentures issued by Fabage: subsequent to conversion the above-mentioned proportions would increase to 96,4 and 93,2 respectively. Näckebro's offer to the owners of shares and convertible debentures in Fabage is thereby brought to an end. Payment, SEK 85 per Fabage share, will be accounted for from 30 July onwards. Within the near future Näckebro will be calling outstanding shares in Fabage for redemption, in accordance with the provisions of the Companies Act. In the near future Näckebro may be acquiring further Fabage shares through the market. With the acquisition of Fabage, Näckebro takes a big step in implementing its concentration strategy with the business. The company will show rental income of approximately 1,200 million SEK and the property market value is estimated to exceed 13,000 million SEK. The property portfolio comprises more than 1,4 million square meters of which half of it is situated in the region of Stockholm. With the acquisition of Fabege, Näckebro will be one of the largest operators on the commercial property market in Stockholm. Any questions can be addressed to Lennart Schönning, Chief Executive, Tel. +46 70 6450250 and to Per Leopoldson, Chief Financial Officer, Tel. + 46 8 4592010. Näckebro is an innovative property company characterised by a modern organisational philosophy, active property development and an open information policy. The property portfolio is of high quality and in the process of being concentrated to office and residential properties in Stockholm, Malmö, Gothenburg and London. At the end of the first quarter of 1997 the property portfolio comprised approximately 900,000 sq.m. with a book value of SEK 7,600 M. Näckebro is listed on the O-list of the Stockholm Stock Exchange.