Good growth in Castellum's income from property management but the trend of increasing prices on properties is broken

  • Rental income for the period January - March 2008 amounted to
   * Net income after tax for the period amounted to SEKm 9 (190),
     equivalent to SEK 0.05 (1.16) per share.
   * Income from property management improved by 9% to SEKm 225 (206),
     equivalent to SEK 1.37 (1.26) per share.

Income from property management for the period, i.e. net income
excluding changes in value and tax, amounted to SEKm 225 (206),
equivalent to SEK 1.37 (1.26) per share. The improvement is 9% and is
due to higher rental income and the effect of investments made but
has also been limited by increased interest rate costs.

During the period changes in value on properties and derivatives
amounted to, respectively SEKm - 171 (33) and SEKm - 44 (22). Net
income for the period was SEKm 9 (190), equivalent to SEK 0.05 (1.16)
per share.

During the period investments totalling SEKm 415 (894) were made, of
which SEKm 302 (227) were new construction, extensions and
refurbishment and SEKm 113 (667) acquisitions.

"The growth in cash flows from property management has been good,
despite increased interest rates" comments Castellum's CEO, Håkan
Hellström ."The long term trend of increasing prices on commercial
properties seems to be broken" adds Håkan Hellström.

Enclosure: Interim Report January - March 2008

Castellum is one of the major listed real estate companies in Sweden.
The fair value of the real estate portfolio amounts to approx. SEK 28
billion, and comprises 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 Eastern Götaland.
Castellum is listed on OMX Nordic Exchange in Stockholm.

For further information, please contact
Håkan Hellström, CEO, phone +46 31 60 74 00 / mobile +46 705-60 74 56
Ulrika Danielsson, Finance Director, phone +46 31 60 74 00 / mobile +
46 706-47 12 61

Castellum AB (publ) discloses the information provided herein
pursuant to the Securities Markets Act and/or the Financial
Instruments Trading Act.