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JM leases office in Solna to SONY

Press release 9/28/2004 4:37 PM

JM leases office in Solna to SONY

The Norra Brunnsviken property was constructed by JM AB and sold by JM to the German pension fund DEKA Immobilien in June 2004. JM has retained responsibility for leasing the property and has now signed a lease with SONY Sweden and its service company Inside Service. The lease comprises a five-year contract with a rental value of approximately SEK 24 million. The contract covers approximately 2,100 sq.m. and the tenant is expected to move in in the first quarter of 2005.

The property has total space of 12,000 sq.m. half of which is leased by the transport and logistics company DHL. Vacant space after SONY's contract is approximately 2,500 sq.m.

"Norra Brunnsviken will be the name of our Swedish office which reflects the new SONY. We look forward to moving into light premises that allow natural meetings between employees in an inspiring environment," comments Mikael Hagman, President of SONY Sweden.

SONY made a careful analysis of the property market in order to find the right location to set up its new Sweden office. Of the short-listed premises, Norra Brunnsviken was the property that best met SONY's requirements specification.

"We are very pleased that SONY has chosen our Norra Brunnsviken project," says Eva Eriksson, head of Project Development at JM Fastighetsutveckling. "The strategic location just north of Stockholm with excellent public transport, proximity to both Arlanda and central Stockholm and the excellent high-profile site on Bergshamravägen, with 55,000 vehicles passing by every day, were the strongest arguments in our favour."

For additional information please contact:
Eva Eriksson, head of Projects/Transactions, JM AB, Telephone +46 8 782 88 99, mobile 070-582 88 99 or Jens Göttler, DEKA Immobilien Investment, telephone +49 69 71 47-3865.

Stockholm, 28 September 2004
Corporate Communications

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JM AB is a public limited company listed on the Stockholm Stock Exchange. JM has around 2,200 employees in Sweden, Norway, Denmark and Belgium and annual sales of approximately SEK 8 billion. The company is Sweden's leading housing developer, and the core business is project development of residential property and, to a selective extent, commercial premises in central areas of growth markets. JM's operations are characterised by a broad focus on quality and the environment.
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