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JM Group Interim report 1 January - 31 March 2003

Report 4/23/2003 3:43 PM

Interim report 1 January - 31 March 2003

· Profit after financial items amounted to SEK 329m (324).

· Property sales of SEK 1,897m (902) generated capital gains of
SEK 367m (174), of which SEK 64m (174) is included in profit from
project development.

· Exchange deal - office properties for residential properties in

· Profit from project development amounted to SEK 102m (358). The
project development margin for the last 12 months amounted to 2.6%

· Over the past 12 months, return on equity amounted to 7% (27)
and earnings per share amounted to SEK 9 (34).

Additional information and financial calendar

For additional information, please contact
Johan Skoglund, President and CEO +46 8 782 89 39
Claes Magnus Åkesson, CFO +46 8 782 89 71

21 July 2003 Interim Report January - June 2003
22 October 2003 Interim Report January - September 2003
February 2004 Year-end report 2003

JM AB is a public limited company listed on the Stockholm Stock
Exchange. JM has around 2,600 employees in Sweden, Norway, Denmark and
Belgium and annual sales of approximately SEK 9 billion. The company is
Sweden's leading housing developer, and the core business is project
development of residential and commercial properties in central areas of
growth markets. JM's operations are characterised by a focus on quality
and the environment.

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