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Press release

Press release

ÅF Group sells Stockholm premises to Humlegården

The ÅF Group has taken an important step in the process of reducing its portfolio of business premises by selling one of its central Stockholm properties to the Swedish property management company Humlegården. The premises, known officially as the Härolden 1 building, are approximately 3,500 square metres in size. In conjunction with the sale, the parties will sign a rental agreement enabling the ÅF Group to lease parts of the premises up until the end of June 2004.
 
Humlegården will have access to the Härolden 1 building at the start of 2004.
 
The sale of the premises is expected to have an effect on the ÅF Group's net result for 2004 of some SEK 20 million.
 
General information about the ÅF Group's sale of its premises
 
In the spring of 2003 the ÅF Group's Board of Directors resolved to sell a majority of the Group's current portfolio of properties, namely seven of the eight premises of significant size. The liquidity generated by these sales will be used to further develop the ÅF Group's core business.
 
As of 5 November 2003 two premises have been sold, Härolden 1 in Stockholm and Snickaren 6 in Tyresö on the outskirts of the Swedish capital. Discussions are currently under way with potential purchasers of the Group's premises in the Swedish cities of Malmö, Växjö, Norrköping, Sundsvall and Luleå.
 
At present there are no plans to sell the buildings which house the ÅF Group's head office in Stockholm. According to an evaluation carried out by Forum Fastighetsekonomi AB, these premises (officially known as the Härolden 44 building and extending over approximately 10,700 square metres) were valued at SEK 240 million at the end of 2002.
 
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