PANDOX SELLS THE HOTEL PROPERTY FIRST HOTEL PARK ASTORIA IN ENKÖPING



The hotel property was sold for 24.6 MSEK, resulting in a capital gain of 7.5 MSEK.

The hotel property will be taken over on April 1, 2003.

-"Pandox continues to act according to its strategy. The disposal is part of the group's aim to own large hotels in large hotel markets and further increases Pandox possibilities for acquisitions", says Anders Nissen, CEO Pandox AB.

For further information: <!-- hugin-supplied --><br> <!-- hugin-supplied --><br> Anders Nissen, CEO Pandox AB, 08-506 205 50, 0708-46 02 02

About Us

Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. Pandox's hotel property portfolio comprises 155 hotels with approximately 34,700 hotel rooms in fifteen countries. Pandox's business is organised into Property Management, which comprises hotel properties leased on a long-term basis to market leading hotel operators, and Operator Activities, which comprises hotel operations executed by Pandox in its owner-occupied hotel properties. Pandox was founded in 1995 and the company's B shares are listed on Nasdaq Stockholm.