Gothenburg, October 20, 2005

Castellum’s income from property management improved by 9%

Rental income for the period January - September amounted to SEKm 1,422 (SEKm 1,381 corresponding period previous year).

Net income after tax for the period amounted to SEKm 743 (593) equivalent to SEK 18.12 (14.46) per share.

Income from property management improved by 9% to SEKm 610 (559) equivalent to SEK 14.88 (13.63) per share.

Net leasing for the period was SEKm 54 (10).

Income from property management for the period, i.e. net income excluding changes in value and tax, amounted to SEKm 610 (559), equivalent to SEK 14.88 (13.63) 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 25 properties (23) were sold for a total of SEKm 468 (450), which exceeded fair value by SEKm 71 (91) and the book value according to earlier accounting principles by SEKm 216 (184). During the period investments totalling SEKm 911 (1,086) were made, of which SEKm 527 (828) were acquisitions and SEKm 384 (258) investments in existing properties.

"Besides the continued growth in income, I’m most delighted about the improved leasing situation. Both the total leasing in Castellum, as well as terminations and bankruptcies, confirms that the rental market has improved" comments Castellum’s CEO, Lars-Erik Jansson.

A nomination committee has been appointed in accordance to the decision made by the Annual General Meeting. The nomination committee is formed by: Lars Öhrstedt, AFA Sjukförsäkrings AB, Laszlo Szombatfalvy, Pernilla Klein, Tredje AP-fonden and the Chairman of the Board Jan Kvarnström.


Enclosure:

Interim Report January - September 2005

 
Castellum is one of the major listed real estate companies in Sweden. The value of the real estate portfolio amounts to approx. SEK 20 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