NCC sells residential project in Copenhagen for SEK 154 million

NCC Construction Danmark A/S is selling a residential project at Amerika Plads in Copenhagen to a joint venture company comprising Nordkranen A/S and Cargill Value Investment. The purchase consideration is slightly more than SEK 154 million (DKK 130 million). The project will generate a positive earnings effect and will be recognized as profit in pace with the progress of construction.

The project consists of 63 apartments with ownership rights and will comprise a total residential volume of 6,000 square meters. The apartments are attractively located in central Copenhagen, by Amerikakajen, directly adjacent to the harbor and the sea. All of the apartments have verandas or roof terraces facing the harbor. The Amerika Plads area is being converted gradually into an exciting new city district. In addition to its location by the harbor, Amerika Plads has a central situation and is also close to the Citadel and Little Mermaid recreational areas. The project, which was originally developed by NCC and TK Development, was sold to NCC last year. The buildings were designed by the Dissing + Weitling architect firm. Construction work has started and the first tenants are expected to move into the apartments at the beginning of 2006. For further information, please contact: Ulf Thorné, Press Relations Manager, NCC Group, +46 8 585 523 46, +46 70 214 77 27