Skanska to complete arena in Russia - contract valued at SEK 355 M

Skanska to complete arena in Russia - contract valued at SEK 355 M Skanska has been contracted to complete the final phase of an indoor arena in Russia. The project is valued at USD 38 M, about SEK 355 M. The customer is OAO Arena 2000, whose main owner is Northern Railway of Russia. The contract represents continued confidence in Skanska, which in 1998 was awarded the contract to carry out construction of the 34,000 sq. m. arena for sports and entertainment activities at Yaroslavl, about 300 kilometers north of Moscow. The assignment was completed concurrent with the financing. The new assignment mainly involves final interior work and the installation of electrical and mechanical systems as well as the refrigeration equipment. With the work completed earlier and the new contract, the total value of Skanska's involvement in the arena project is USD 66 M. The 9,000-seat arena is scheduled to be completed in September 2001 and will house restaurants, bars and VIP lounges. In December 2000, Skanska was also assigned responsibility for construction of the Alfa Arbat Center, a new office and commercial center in Moscow, an order valued at USD 42 M. In addition, last year Skanska also completed the Sports Palace in St. Petersburg for the 2000 Ice-hockey World Championships. For further information please contact: Martti Rautee, President, Skanska East Europe, Tel + 358 9 61 52 22 03 Tapio Korkka, Senior Vice President, Skanska East Europe, Moscow Unit, Tel +358 9 61 52 23 70 This and previous releases can also be found at www.skanska.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/09/20010109BIT00410/bit0001.doc http://www.bit.se/bitonline/2001/01/09/20010109BIT00410/bit0002.pdf