JM does not take responsibility for the translation

Interim Report January - September 2011

Press release 10/28/2011 8:00 AM

High level of housing starts - somewhat lower rate of sales

- According to segment reporting revenues increased to SEK 8,547m (6,342), operating profit to SEK 1,047m (572) and operating margin to 12.2 percent (9.0)

- Restated according to IFRIC 15 revenues amounted to SEK 8,299m (6,061) and operating profit totaled SEK 1,013m (525)

- Profit before tax totaled SEK 974m (496). Profit after tax improved to SEK 695m (329)

- Return on equity for the past twelve months rose to 24.2 percent (14.9). Earnings per share during the nine-month period amounted to SEK 8.30 (3.90)

- Consolidated cash flow including net investment in properties was SEK 173m (-263)

- Number of residential units sold increased to 2,366 (2,220) and housing starts increased to 2,856 (2,432)

- Major acquisitions in Stockholm and Oslo increased the portfolio to 28,000 residential building rights (26,700).

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 11 billion and the company has about 2,300 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.