Peab to build the infrastructure in the GSM-R-network in Norway

Peab to build the infrastructure in a GSM-R network in Norway Peab's wholly-owned subsidiary Netel has been commissioned to carry out the building of infrastructure in the GSM-R network in Norway. The work has been commissioned by Jernbaneverket (the equivalent of Railtrack in the UK) and the contract is worth in the region of NOK 650-700 million. GSM-R is a joint European train radio system which coordinates safety matters and simplifies traffic monitoring in the European railway network. Netel's commission includes the establishment of some 800 base stations around Norway and the installation of equipment to ensure proper signalling in approximately 300 tunnels. Thus the contract comprises the physical infrastructure of the project except for the actual GSM-R system, where the operational responsibility lies. A decision will be made as to which company is to be assigned this operational-related contract shortly. Netel will begin work during the autumn of 2003, and the contract will take between 3 and 5 years to complete depending on the granting of permits. "This is an important contract for Netel. Now we are able to boost our position as one the leading players in the area of telecommunications infrastructure construction," says Mr Erik Salling, MD of Netel. For further information contact: Mr Erik Salling, MD Netel +46 733-37 50 00 Mr Gösta Sjöström, information manager Peab +46 733-37 10 10 Previous press releases from Peab are available at ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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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.