STOCKHOLM, Sweden, July 1, 2003 (PRIMEZONE) -- Tornet is selling AB Vaxholmsbostader as JM has decided to take up the option issued by Tornet. The sale will have an effect on income after tax of SEK 108 million in the third quarter of 2003.
Vaxholmsbostader consists of 30 properties, mainly housing. All properties are situated in the municipality of Vaxholm. The sales price for the shares in Vaxholmsbostader has been set on the basis of external assessed market value for the properties on 31 December 2002. More information about the properties sold is available on Tornet's website www.tornet.se under the heading Properties/List of properties.
For further information, please contact: Fastighets AB Tornet (publ) Sverker Lerheden, Managing Director +46-8-544 905 00
Fastighets AB Tornet is one of Sweden's major listed property companies. Its Swedish holding has a lettable area of around 2.8 million square metres and a book value of approximately SEK 19 billion. Almost 97 per cent of the property holdings, measured as book value, are in Sweden and mainly concentrated in Sweden's six largest cities and in Norrkoping and Karlstad. The properties are owned and managed by the subsidiaries ArosTornet, Malmstaden, MalarTornet, SkansTornet and Euro Tower.
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