NCC sells West Gate property in Warsaw for SEK 570 million

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NCC sells West Gate property in Warsaw for SEK 570 million NCC has concluded an agreement regarding the sale of the West Gate property in Warsaw, Poland, for approximately SEK 570 million (USD 65 million). The purchaser is DGI (Deutsche Grundbesitz Investmentgesellschaft), a real estate fund managed by Deutsche Bank. When the formalities now have been fulfilled, the sale will have a highly favorable impact on the NCC Group's earnings during the fourth quarter of 2002. The sold property, Brama Zachodnia Business Centre, is located in the western part of central Warsaw. The 23,000-square-meter office property has sufficient space for approximately one thousand ultra modern, flexible workplaces. A total of 70 percent of the property is already leased to such tenants as Ericsson, Provident and Marsh McLennan. The property was completed in October 2001, at the same time as the first tenants moved in. Although the site was acquired in May 1998, a protracted building-permit process delayed the initiation of construction. Warsaw is one of the cities in Europe's high-growth markets where considerable interest is being shown in real estate investments. "Having maintained a strong local presence in Warsaw for several years, combined with a well-developed network of contacts, NCC is able to implement property-development projects from the concept stage to property sale outside our core markets in the Nordic region," says Magnus Mannesson, President of NCC Property Development. For further information, please contact: Magnus Mannesson, President NCC Property Development, tel 070 512 1890 Stefan Holmlund, Information and Marketing Manager NCC Property Development, tel 070 651 1564 Gisela Lindstrand, Press Relations Manager NCC AB Tel +46 8 585 52346 or +46 70 392 9500 All of NCC's press releases are available on NCC is one of the leading construction and property development companies in the Nordic region. NCC had in 2001 sales of SEK 46 billion, with 25,000 employees. ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: