Castellum's income from property management improved by 10%

  • Rental income for the period January - March 2006 amounted to

Income from property management for the period, i.e. net income
excluding changes in value and tax, amounted to SEKm 194 (176),
equivalent to SEK 4.73 (4.29) per share. The improvement amounts to
10%.

During the period changes in value on properties and derivatives
amounted to, respectively SEKm 52 (70) and SEKm 85 (-18). After
deduction for tax SEKm 92 (65) net income for the period was SEKm 239
(163) equivalent to SEK 5.83 (3.98) per share.

During the period investments totalling SEKm 362 (183) were made, of
which SEKm 169 (85) were acquisitions and SEKm 193 (98) investments
in existing properties. Further, six (14) properties were sold for a
total of SEKm 112 (310).

"I'm pleased that our overall objective of growth in income from
property management of at least 10% was achieved, despite higher
operating expenses due to the cold and snowy winter" comments
Castellum's CEO, Håkan Hellström.

Enclosure: Interim Report January - March 2006

Castellum is one of the major listed real estate companies in Sweden.
The fair value of the real estate portfolio amounts to over SEK 21
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, Mälardalen and Western Småland.
The Castellum share is listed on Stockholmsbörsen's O-list, Attract
40.

For further information, please contact
Håkan Hellström, CEO, phone +46 31 60 74 00 / mobile +46 705-60 74 56