Gothenburg, April 20, 2005

Castellum’s income from property management improved by 9%

Rental income for the period January - March 2005 amounted to SEKm 470 (SEKm 455 corresponding period previous year).

Net income after tax for the period amounted to SEKm 163 (85) equivalent to SEK 3.98 (2.07) per share.

Income from property management improved by 9% to SEKm 176 (162) equivalent to SEK 4.29 (3.95) per share.

Income from property management for the period, i.e. net income excluding changes in value and tax, amounted to SEKm 176 (162), equivalent to SEK 4.29 (3.95) per share. The improvement is 9% and has been achieved chiefly through a larger real estate portfolio and lower interest rate levels.

During the period 14 properties (17) were sold for a total of SEKm 310 (375), which exceeded fair value with SEKm 43 (75) and the book value according to earlier accounting principles by SEKm 153 (151). During the period investments totalling SEKm 183 (177) were made, of which SEKm 85 (114) were acquisitions and SEKm 98 (63) investments in existing properties.

"I’m particularly pleased with the positive net leasing which I see as a result of an improved demand" comments Castellum’s CEO, Lars-Erik Jansson.

     

Enclosure:

Interim Report January - March 2005

     

Castellum is one of the major listed real estate companies in Sweden. The value of the real estate portfolio amounts to approx. SEK 19 billion, and comprises mainly commercial properties. The real estate portfolio is owned and managed by six wholly owned subsidiaries with strong local roots in five growth regions: Greater Gothenburg, the Öresund Region, Greater Stockholm, Western Småland and Mälardalen. The Castellum share is listed on Stockholmsbörsen’s O-list.

     

For further information, please contact
Lars-Erik Jansson, CEO, phone +46 31 60 74 00 / mobile +46 705-92 06 70

Håkan Hellström, CFO/deputy CEO, phone +46 31 60 74 00 / mobile +46 705-60 74 56