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Interim Report January - June 2011

Press release 8/24/2011 8:00 AM

Continued good demand in JM’s main markets

- Revenues amounted to SEK 5,228m (4,114), including a negative impact on revenue of SEK -360m (-216) due to restatement according to IFRIC 15. Revenue according to segment reporting shows an increase of SEK 1,258m (-91)

- Number of residential units sold increased to 1,661 (1,462) and housing starts increased to 1,851 (1,621)

- Profit before tax improved to SEK 594m (294) including a negative impact on revenue of SEK -47m (-38) due to restatement according to IFRIC 15. Profit after tax improved to SEK 422m (205). Operating margin increased to 11.8 percent (8.0)

- Return on equity for the past twelve months was 21.4 percent (14.7). Earnings per share during the first six months of the year amounted to SEK 5.10 (2.50)

- Consolidated cash flow including net investment in properties was SEK -143m (-236)

- Major acquisition of land in Stockholm and residential building rights in Oslo completed after the end of the reporting period with potential for development of about 3,600 residential units.

JM is one of the leading developers of housing and residential areas in the Nordic region.  Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM shall promote long-term quality and environmental management in all its operations. Our annual sales total approximately SEK 10 billion and the company has about 2,200 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.