This is a turn-key contract for the construction of a new building, which will accommodate a production hall of approximately 13,000 m2 and an office area of approximately 1,500 m2. The engineering phase has started and construction is due to start in mid August. The new premises will be completed by 1 August 2004. The contract value is DKK 72.9 million.

DSB S-Tog A/S has asked Hoffmann to build a new hall of approximately 2,600 m2, which will contain a train-cleaning facility, maintenance shed and welfare department. The work starts on 1 July and will be completed by 30 June 2004. This is a turn-key contract worth DKK 45.8 million.

The City of København is going to erect a new building of approximately 3,000 m2. The construction work will be carried out under a partnering contract worth DKK 40 million. The engineering work will start medio/ultimo 2003 and construction will start at the beginning of 2004. The project is scheduled for completion at the beginning of 2005.

The municipality of Albertslund has awarded Hoffmann the contract a new storey with a total floor area of 2,500 m2 on top of the old library building. The contract value is DKK 25 million. Construction starts in July 2003 and the new premises will be completed by July 2004.

In addition to the above-mentioned contracts, Hoffmann is going to renovate 1,500 m2 at the Frederiksberg Hospital (DKK 12 million) and build/convert a 1,500 m2 warehouse into offices. The latter contract was awarded by DHL and has a value of DKK 14 million.

For further information, please contact:

Regional Manager Kurt Heinze, Hoffmann A/S,

phone +45 7620 3777 (New Parcels Centre)

Director Torben Bjørn Nielsen, Hoffmann A/S,

phone + 45 4329 9000 (other contracts)