NCC sells real estate projects in Finland for SEK 640 million

NCC Property Development has sold a portfolio of property-development projects to NIAM Fund III. The purchase consideration is SEK 640 million (EUR 71 million) and the deal will, after full provision for extended rent guarantees, have a marginal positive effect on NCC Property Development’s income statement for 2004. Of the total purchase sum, SEK 240 million (EUR 27 million) is being paid in 2004.

The transaction covers the Pilot 1 property in Oulu and the Dynamo property in Tampere. In addition, two properties under construction are included in the transaction. These properties are Opus 3 in Helsinki and Airport Plaza Alto in Vantaa. All of the sold properties were built in accordance with NCC’s Business Park Concept. This concept gives tenants of NCC’s office buildings an opportunity to cost-effectively share various types of services. These could be reception and healthcare services, cafeterias, restaurants, conference space, meeting rooms or parking spaces. The Pilot 1 property in Oulu has a total of 5,250 square meters of gross floor space and is fully leased. The Dynamo property in Tampere has 22,300 square meters of floor space, of which nearly 80 percent is leased. The leasing rates for the properties under construction are also high. Opus 3, which has 14, 700 square metres of space, is scheduled for completion in February 2006 and has already a leasing rate of 55 percent. Airport Plaza, Alto, with 6,000 square metres, will be ready in September next year and has currently a leasing rate of 60 percent. Niam Fond III has an investment capacity of over SEK 14 billion dedicated to the Nordic and Baltic region's property market. The initial investments that have been made in Sweden constitute a platform of NIAM’s establishment in Finland, which is a natural stage in the fund’s strategy. More information about NIAM is available on: www.niam.se For further information, please contact: Ulf Thorné, Press Relations Manager, NCC Group, +46 8 585 523 46, +46 70 214 77 27