STOCKHOLM, Sweden, Jan. 30, 2004 (PRIMEZONE) -- In view of the changed ownership structure of Tornet, an Extraordinary General Meeting was held today in order to elect a new Board of Directors. The Meeting resolved to appoint the following people as board members until the next Annual General Meeting: Goran Collert and Sverker Lerheden (re-elected) and Per Frankling, Bo Jungner, Mats Lonnqvist, Mark H. Newman and Edward Williams (newly elected).
At the statutory board meeting held immediately after the General Meeting, the Board of Directors appointed Mark H. Newman as the Chairman of the Board until the AGM.
The Board of Directors also resolved to start with immediate effect a detailed review of the company's strategy and business plan. This work is expected to be carried out during most of the spring.
As a consequence, the Board decided it was appropriate to postpone the Annual General Meeting until the second half of May 2004, by which point the business plan review should be complete.
For further information please contact: Mark H. Newman, Chairman Fastighets AB Tornet +44 20 7102 1303
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 over 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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