Keops has entered into agreement with Property Group about the sale of a two-digit number of Swedish residential properties at a total price of SEK 2,730 million. The properties sold were acquired from May 2004 until January 2006, and since then, the price of Swedish residential properties has developed favourably. Accordingly, Keops realises a considerable increase in value on sale. The sold properties are included in the following three property portfolios: • Parts of the Malmstaden portfolio (residences in Norrköping) • The Borgs portfolio (residences in Norrköping) • The PBA portfolio (residences in Malmö, Kalmar and Karlskrona) In connection with the final conclusion of the sale and settlement of accounts expectedly by the end of April 2007, early redemption will be announced of all bonds issued by Keops EjendomsObligationer III (PBA) A/S. The relevant bonds are: • 8,5% Keops EjendomsObligationer III 2011 • 9% Keops EjendomsObligationer III 2014 CB Richard Ellis assisted as broker on the sale. Keops expectations of the future The sold properties are included in the three property portfolios which were designated as ready for sale as a part of Keops' six-point plan for consolidating, focusing and increasing professionalism of the Group. The sales process for the remaining sale - primarily the office property Fatburen in Stockholm as well as the remaining properties in the Malmstaden portfolio - follows the determined plan with the sale of Fatburen furthest along in the sales process. The advanced sales discussions about Fatburen as well as the agreement on the sale of the Swedish residential properties support the expectations stated in the six- point plan about profit and cash flow proceeds from the property portfolios designated as ready for sale. Accordingly, Management maintains the most recently reported expectations of Keops Group's consolidated profit before tax for this financial year. The expectations of profit before tax for 2006/07 accordingly constitute DKK 500-700 million. The expectations of profit include value adjustments of properties and debt of a total of approx. DKK 170 million.