Wallenstam sells whole property portfolio in Malmö

Wallenstam sells whole property portfolio in Malmö Wallenstam has signed an agreement to sell all its property holdings in Malmö. These holdings total approx. 84,000 m2 with about 1,000 apartments and the buyer is the Norwegian property company Heimstaden AS. The selling price is equivalent to Wallenstam's valuation of the properties as of 31-12-1998 and represents a significant capital gain for Wallenstam. The purchaser will take over after a due diligence has been completed in April. After the sale, Wallenstam's operations will be geographically concentrated to Stockholm, Gothenburg and Helsingborg. In contrast to Malmö, Wallenstam is one of the largest private residential property management companies in all three cities. Gothenburg, 23 February, 1999 Lennart Wallenstam Byggnads AB (publ) For further information, please contact Hans Wallenstam, Managing Director, phone +46 31 200 000. Wallenstam was founded in 1944 and, with more than 10,000 apartments in its portfolio, is one of the largest residential property companies on the Stockholm Stock Exchange. With floor space totalling about 1,000,000 m2 and a market value of about SEK 1 billion, Wallenstam is also one of the largest listed property companies in Sweden ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/23/19990223BIT00730/bit0001.doc http://www.bit.se/bitonline/1999/02/23/19990223BIT00730/bit0002.pdf