18% growth in income from property management but continued imbalance on the property market

 - Rental income for the period January - June 2009 amounted to SEKm
 1,346 (SEKm 1,218
    corresponding period previous year).
  - Income from property management improved by 18% to SEKm 557 (473),
 equivalent to SEK 3.40 (2.88)
    per share.
  - The changes in value on properties amounted to SEKm -814 (-467)
 and on interest rate derivatives
    to SEKm 68 (60).
  - Net income after tax for the period amounted to SEKm -133 (49),
 equivalent to SEK -0.81 (0.30)
    per share.
  - The investments amounted to SEKm 566 (1,582).
  - The total value of the properties amounted to SEKm 28,917 (29,165
 at the end of previous year) with a
    loan to value ratio of 53% (50%).

Income from property management for the period, i.e. net income
excluding changes in value and tax, amounted to SEKm 557 (473),
equivalent to SEK 3.40 (2.88) per share. The improvement is 18% and
above all an effect of lower interest rates, but also higher rental
incomes and investments made have had a positive effect. The net
leasing amounted to SEKm -27 (62). During the period investments
totalling SEKm 566 (1,582) were made.

During the period, changes in value on properties and derivatives
amounted to, respectively, SEKm -814 (-467) and SEKm 68 (60).

"Even if the recession has become more visible on the rental market
the growth in income from property management is very strong and the
net leasing so far is better than expected" comments CEO Håkan
Hellström. "I'm also pleased that Castellum has succeeded in signing
new long term credit agreement of SEK 1 billion, which can be seen as
a sign of a more normal credit market" adds Håkan Hellström.

Enclosure: Half-year Report January - June 2009

Castellum is one of the major listed real estate companies in Sweden.
The fair value of the real estate portfolio amounts to SEK 29
billion, and comprises premises for office, retail, warehouse and
industrial purposes. 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
NASDAQ OMX Stockholm AB Large Cap.

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
or visit www.castellum.se

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

This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.