Skanska sells one third of London property with gain of SEK 225 M

Skanska sells one third of London property with gain of SEK 225 M Skanska has sold one third of Thomas More Square in central London for GBP 41.5 M, approximately SEK 566 M. The buyer is Sun Axa Life, one of Europe's largest insurance companies. The capital gain amounts to SEK 225 M. Thomas More Square at the Tower in central London was developed and constructed by Skanska in 1991. The property, which comprises five buildings with a total floor space of about 47,000 sq. m., is fully leased. The three buildings now being sold represent approximately one third of the total area. The remaining two properties, about two thirds of the total floor space, will continue to be owned by Skanska for the time being. "The sale is in line with our strategy to divest fully developed properties and focus on continued development of new projects in growth markets in Central Europe," says Johan Bergman, President of Skanska Project Development Europe. For further information please contact: Johan Bergman, President of Skanska Project Development Europe, Tel: +46-8-753 83 15 This and previous releases can also be found at www.skanska.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/20/20000320BIT01020/bit0001.doc http://www.bit.se/bitonline/2000/03/20/20000320BIT01020/bit0002.pdf