Wihlborgs has acquired a further 3.1 percent of the shares in Fabege and is submitting a public offer

Wihlborgs has acquired a further 3.1 percent of the shares in Fabege and is submitting a public offer The Offer is not aimed at persons whose participation presupposes further prospectuses, registration measures or measures other than those that follow Swedish law. Through this press release no offer is submitted, directly or indirectly, in the USA or Canada. The press release may not be distributed to countries where the distribution or the Offer call for measures that are in accordance with the previous paragraph or that violate against regulations in such a country. - Wihlborgs has acquired shares in Fabege from Stena, equivalent to 3.1 percent of the capital and 3.4 percent of the votes, at a price of SEK 105.50 per share - Wihlborgs thus owns 42.0 percent of the capital and 41.1 percent of the votes in Fabege - Wihlborgs is submitting a public offer to the shareholders in Fabege in accordance with the rules on the obligation to make a mandatory offer - The offer in brief: - SEK 108 will be received for every A share and SEK 105.50 for every B share in Fabege, or - For every 20 A or B shares in Fabege 21 newly issued shares in Wihlborgs will be received, or - For every A or B share in Fabege a convertible debenture in Wihlborgs will be received at nominally SEK 105.50 kronor with 5.25 percent interest, convertible to a share in Wihlborgs. Wihlborgs Fastigheter AB ("Wihlborgs") has today acquired from Stena Fastighetsförvaltning AB ("Stena") by cash payment half of Stena's shares in Fabege AB ("Fabege"): 32,550 A shares and 2,055,120 B shares, equivalent to 3.1 percent of the capital and 3.4 percent of the votes in Fabege. Wihlborgs thus owns 89,750 shares from Series A and 28,058,803 shares from Series B, equivalent to 42,0 percent of the capital and 41.1 percent of the votes in Fabege. The acquisition means that the rules on the obligation to make a mandatory offer are applicable, thus Wihlborgs is submitting an offer to the shareholders in Fabege (the "Offer"). Stena has declared it is positive about the Offer and will accept the Share Alternative for its remaining holding of 2,100,000 B shares, equivalent to 3.1 percent of the shares in Fabege. "The offer facilitates the creation of a property group with very strong market positions in Stockholm and the Öresund region," says Erik Paulsson, President and CEO of Wihlborgs Fastigheter. "Bringing together Wihlborgs and Fabege will mean major consolidation gains and cost savings of about SEK 100 million a year. We are also convinced that Wihlborgs' successful model for property and project development will create significant profits when it is implemented in a merged company," Erik Paulsson continues. Malmö, 19 July 2004 Wihlborgs Fastigheter AB (publ) For further information: Erik Paulsson, President and CEO, Tel.: +46 (0)8-555 148 18, +46 (0)733-87 18 18 Olle Knaust, deputy CEO and CFO, Tel.: +46 (0)8-555 148 10, +46 (0)733-87 18 10 Mats Berg, communications manager, Tel.: +46 (0)8-555 148 20, +46 (0)733-87 18 20 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/07/19/20040719BIT20030/wkr0001.pdf The full release