Skanska sells properties in Stockholm for capital gain of SEK 264 M

Skanska sells properties in Stockholm for capital gain of SEK 264 M Skanska and Vasakronan are carrying out major property deals in Stockholm. Skanska is selling the Gamen 10 and Lagern 11 properties for a total of SEK 488 M. The capital gain amounts to SEK 264 million. At the same time, Skanska is acquiring the Grönlandet Södra 13 property from Vasakronan for SEK 153 million. Vasakronan is acquiring the Lagern block, which is a 9,500 sq. m. office building on Kungsgatan in central Stockholm. The property is fully leased after Skanska modernized the premises earlier. Concurrently, Skanska Real Estate Stockholm is acquiring the Grönlandet Södra 13 property from Vasakronan. After an extensive renovation, the 8,400 sq. m. building, with a central location in Stockholm City, will be leased to the National Swedish Social Insurance Board. "We are maintaining a rapid pace in our property portfolio," says Fredrik Wirdenius, President, Skanska Real Estate Stockholm. "We are selling a fully leased property and purchasing a center-city property that we will further develop for the new tenant's needs." The 5,300 sq. m. office building in the Gamen 10 block is also an example of Skanska's project development operations. In 1997, Skanska purchased two development rights from Vasakronan, partly for office premises and partly for residential housing in the Gamen 11 block. Skanska then developed, designed and constructed modern office facilities and residential apartments. The 71 apartments were sold earlier as tenant-owner units. Vasakronan has now exercised its option to buy back the office property Gamen 10, which is scheduled for completion in July. For further information please contact: Fredrik Wirdenius, President Skanska Real Estate Stockholm, Tel +46 8-753 80 62 or +46 70-553 80 62 Lennart Daleke, Regional Manager Skanska Sverige, Construction Building Division, Tel +46 8-753 84 12 or +46 70 - 593 20 40 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/2000/04/05/20000405BIT00070/bit0001.doc http://www.bit.se/bitonline/2000/04/05/20000405BIT00070/bit0002.pdf