NCC leases out a third of Frösunda Front in Solna

NCC leases out a third of Frösunda Front in Solna A number of major rental contracts have been signed for NCC Property Development's Frösunda Front project in Solna, north of Stockholm. Nearly 6,000 square meters have been leased out, corresponding to about a third of the total floor space. Accordingly, NCC has established an annual rent level of approximately SEK 2,300 per square meter in Frösunda's best location. Frösunda Front, which NCC is developing and building, is located adjacent to the E4 expressway in Frösunda, Solna. The project comprises 18,000 square meters of office space, as well as parking and restaurant facilities. The property is situated next to Frösunda Port, which was developed by NCC earlier. Interest in becoming established in the property is considerable and the following companies have selected Frösunda Front as the location for their Swedish offices: DB Unigrid, an IT operations provider whose business concept is to supply effective IT services for operations and networks, allowing customers to focus on their core operations. The company is a wholly owned subsidiary within the EDB Business Partner Group, which is listed on the Oslo Stock Exchange. Eli Lilly and Company, formed in 1876 and one of the world's largest pharmaceuticals companies. The company, which is headquartered in Indianapolis, in the US, is listed on the New York Stock Exchange. Eli Lilly Sweden, which is relocating to Frösunda Front, markets prescription pharmaceuticals in Sweden. SCAN COIN, which offers products and systems for the rational handling of coins and banknotes throughout the world. Its head office and production are located in Malmö. The company's Swedish sales office is moving to Frösunda Front. Lease lengths vary between slightly more than three years and five years. Occupancy will take place during summer 2003. "Our vision for Frösunda Front is that it will provide efficiently functioning workplaces in an excellent showcase location on the approach route to Stockholm. The proximity of the E4 expressway provides effective communications, such as to and from Stockholm-Arlanda Airport. It is gratifying that tenants are showing such great interest in the project, despite the low level of activity in the rental market in Stockholm," says Olle Berntson, Head of Property Development at NCC Property Development. For further information, please contact: Olle Berntson, Manager property development NCC Property Development Tel +46 8 585 5314 Gisela Lindstrand, Press Relation Manager NCC AB Tel +46 8 585 52346 or +46 70 392 9500 Stefan Holmlund, Marketing Manager NCC Property Development Tel +46 8 585 51954 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/12/06/20021206BIT00200/wkr0001.doc http://www.waymaker.net/bitonline/2002/12/06/20021206BIT00200/wkr0002.pdf