Wallenstam sells to tenant-owners' association

Wallenstam sells to tenant-owners' association Wallenstam has sold yet another residential property to a tenant-owners' association in central Stockholm. The selling price substantially exceeds Wallenstam's internal valuation as of 31-12-1999 and indicates a direct yield of 3%. Hans Wallenstam, Managing Director, comments: "In the light of the fact that the system for setting rental levels has not changed at the rate we anticipated, we are now in a phase where we are selling to tenant-owners' associations which buy properties with a low required rate of return". Lennart Wallenstam Byggnads AB Gothenburg, 16 August, 2000 For further information, please contact Thomas Dahl, Marketing and Information Director, phone: +46-31 200 000 or +46-705 171 142. Wallenstam was established in 1944 and is one of Sweden's major dedicated property companies with more than 300 properties in the three major urban areas Gothenburg, Stockholm and Helsingborg. The focus of the Group's portfolio is residential and commercial properties. The Group's rental income is about SEK 800 million and the value of its property portfolio is about SEK 7.5 billion. Wallenstam's Series B shares have been listed on the Stockholm Stock Exchange since 1984. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/08/16/20000816BIT00210/bit0001.doc http://www.bit.se/bitonline/2000/08/16/20000816BIT00210/bit0002.pdf