NCC sells property in central Stockholm to AMF Försäkring for SEK 330 million

NCC sells property in central Stockholm to AMF Försäkring for SEK 330 million NCC Real Estate has reached an agreement with the Swedish insurance company, AMF Försäkring, regarding the sale of the leasehold to the Lybeck 2 property on Tegeluddsvägen, Stockholm. The sales price of SEK 330 million will generate a capital gain of approximately SEK 20 million for NCC. "The sale is in line with our strategy of divesting fully developed properties in order to release capital for new real estate development projects," says Magnus Mannesson, the president of NCC Real Estate. To date this year, NCC Real Estate has sold managed properties with a total value of SEK 1.6 billion, including the current sale. The Lybeck 2 property, which was constructed in 1979, comprises about 27,500 square meters of floor space, with offices accounting for approximately 19,200 square meters. "Among other activities, AMF Försäkring is acquiring properties in certain locations on the periphery of Stockholm City. The reason for selecting such locations is their anticipated potential for rent increases," says Stefan Sundh, head of real estate operations at AMF Försäkring. "We expect Lybeck 2 to generate an initial yield of approximately 7.5 percent." The takeover date is December 1, 1999. For further information, please contact: Magnus Mannesson, President, NCC Real Estate (Tel: +46-8-655 22 75, or +46-70-512 18 90) Stefan Sundh, head of real estate operations, AMF Försäkring (Tel: +46-8-696 40 73) ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/01/19991201BIT00600/bit0001.doc http://www.bit.se/bitonline/1999/12/01/19991201BIT00600/bit0002.pdf