Peab expands in Finland

Peab expands in Finland Peab has acquired 86 per cent of the shares of Seicon, the privately- owned, Finnish construction company. In 2002, the company reported turnover of € 110 million, it has approximately 300 employees and an order backlog exceeding € 60 million. Seicon's domicile is located in Seinäjoki near Vasa, approximately 350 kilometeres north-west of Helsinki. The bulk of the company's activities take place in the Helsinki area. Antti Peltoniemi, Seicon's principal owner, will remain a partner in the company and take up his duties as CEO of Peab's Finnish operations. In connection with the acquisition of Seicon, a review of Peab's Finnish operations has been conducted. A reappraisal of project and restructuring costs together with current production results will be charged as expenditure to the tune of SEK 48 million for the first six months of Peab's accounts. Following the acquisition and completion of the restructuring process, it is estimated that Peab will show turnover of approximately € 160 million in Finland. Provided the Finnish Competition Authority approves the deal, the day of taking possession is scheduled for 15 September 2003. - The acquisition of Seicon will provide Peab with a sufficiently large production resource capacity in Finland and creates opportunities for achieving good long-term profitability. We will broaden our customer contacts and operations in a way that produces good synergy effects, comments Göte Brännvall, Peab's Deputy CEO. For further information contact: Göte Brännvall, Deputy CEO Peab +46 733 37 10 04 Antti Peltoniemi, CEO Seicon +358 40 57 01 000 Gösta Sjöström, Information Manager Peab +46 733-37 10 Previous press releases from Peab are available at www.peab.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/08/27/20030827BIT00830/wkr0001.doc http://www.waymaker.net/bitonline/2003/08/27/20030827BIT00830/wkr0002.pdf

About Us

Peab is a leading Nordic construction and civil engineering company with about 14,000 employees and about SEK 54 billion in net sales. The Group has strategically placed offices in Sweden, Norway and Finland. Company headquarters are in Förslöv on Bjäre Peninsula in southern Sweden. The Peab share is listed on NASDAQ Stockholm.

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