Castellum acquires and builds for SEK 90 million

Gothenburg, December 12, 2001

The Real Estate Company Castellum has, through its local subsidiaries, acquired four properties in Malmö/ Lund and Gothenburg/Kungsbacka, of which two unbuilt sites. The total investment including planned new construction exceeds SEK 90 million. In all nine properties were disposed of at a total of SEK 111 million with a capital gain of SEK 10 million.

Through the subsidiary Fastighets AB Briggen, Castellum has acquired an office and warehouse property of 2,710 square metres in the Jägersro district in eastern Malmö where the company already owns properties. The building, which was entirely vacant at the time of acquisition, will be adopted for a new tenant, who will rent the whole area on a 10-year lease as from January 1, 2002. The invest-ment amounts to in all SEK 27 million. Briggen has also acquired unbuilt land of about 15,000 square metres close to Edison Park in Lund at a purchase price of SEK 14 million.

In Gothenburg, Eklandia Fastighets AB has acquired a combined warehouse and office property of 3,990 square metres close to the European highway E6 in Hisingen. In this area the company already owns properties. The purchase price was SEK 18 million. The property is designed for logistics purposes and has a ground area of over 10,000 square metres, which enables future extension.

Harry Sjögren AB has acquired a building site of 5,500 square metres close to E6 in Kungsbacka. The company will there build an office and warehouse building of about 1,800 square metres for a new tenant, who have signed a lease contract for 10 years. The ground area allows a further future extension of up to about 2,000 square metres premises. The project implies a total invest-ment of SEK 20 million. Moreover, Harry Sjögren AB has acquired a combined warehouse and office property of about 2,300 square metres in the Sisjön industrial area in Gothenburg. The purchase price was SEK 12 million. The property includes prospects of future extensions of about 4,000 square metres.

Briggen has sold a smaller industrial property of 1,420 square metres in the Limhamn district in Malmö as well as a residential property of 3,644 square metres in Helsingborg. I Gothenburg Eklandia has disposed of a warehouse property of 7,435 square metres in Gamlestaden. Furthermore, Fastighets AB Corallen has, in one transaction, sold five of its properties in Gnosjö, which was in line with the company's strategy of concentrating the operations in western Småland and reducing the residential share of the portfolio. In addition, Corallen has sold a smaller retail property including office and residential areas in the town centre of Värnamo. The total sales price for the properties mentioned above amounted to SEK 111 million, which meant a capital gain of SEK 10 million.

The Managing Director of Castellum's subsidiary Aspholmen Fastigheter AB, Jan Stridbeck, will be 65 years of age in September 2002 and is leaving his present position on February 28, 2002. Claes Larsson (born 1957) Örebro, has been appointed new Managing Director in the company as from March 1, 2002. During the last years, Claes Larsson has been working as Regional Manager in the Skanska-Group.

The Board of Castellum AB has decided that the current incentive scheme for the management and other senior executives shall be prolonged on essentially unchanged conditions. The scheme, which includes in all nine people and is for three years, consists of one part based on the share price development as well as one part based on the earnings trend of the company. Any bonus payable will be paid as salary and at least half of the net pay shall be used for purchase of Castellum shares.

For further information, please contact
Lars-Erik Jansson, CEO, phone +46 31 60 74 00/ mobile +46 705-92 06 70

Håkan Hellström, CFO/deputy CEO, phone +46 31 60 74 00 / mobile +46 705-60 74 56