Castellum's income from property management improved by 9%

  • Rental income for the period January - March 2005 amounted to

Income from property management for the period, i.e. net income
excluding changes in value and tax, amounted to SEKm 176 (162),
equivalent to SEK 4.29 (3.95) per share. The improvement is 9% and
has been achieved chiefly through a larger real estate portfolio and
lower interest rate levels.

During the period 14 properties (17) were sold for a total of SEKm
310 (375), which exceeded fair value with SEKm 43 (75) and the book
value according to earlier accounting principles by SEKm 153 (151).
During the period investments totalling SEKm 183 (177) were made, of
which SEKm 85 (114) were acquisitions and SEKm 98 (63) investments in
existing properties.

 "I'm particularly pleased with the positive net leasing which I see
as a result of an improved demand" comments Castellum's CEO,
Lars-Erik Jansson.

Enclosure: Interim Report January - March 2005

Castellum is one of the major listed real estate companies in Sweden.
The value of the real estate portfolio amounts to approx. SEK 19
billion, and comprises mainly commercial properties. The real estate
portfolio is owned and managed by six wholly owned subsidiaries with
strong local roots in five growth regions: Greater Gothenburg, the
Öresund Region, Greater Stockholm, Western Småland and Mälardalen.
The Castellum share is listed on Stockholmsbörsen's O-list.

For further information, please contact
Lars-Erik Jansson, CEO, phone +46 31 60 74 00 / mobile +46 705-92 06
Håkan Hellström, CFO/deputy CEO, phone +46 31 60 74 00 / mobile +46
705-60 74 56