Construction of the New Ulriksdal begins

Construction of the New Ulriksdal begins

Today, Friday the 22nd of August, Queen Hedvig Eleonora fired the starting shot
for the development of the New Ulriksdal. Peab and the City of Solna will create
a new city district on this site that will be home and workplace to over 10,000
people when it's finished.

The City of Solna has once again been voted the best business municipality in
Sweden and the relationship between the city and business can only get better
through the establishment of the New Ulriksdal. It is situated next to good
communication systems and signs will be clearly visible from the E4 highway, two
crucial factors when companies decide where to settle.

“After waiting 48 years we are very happy to finally start construction in
Ulriksdal. I'm convinced that this will fit in perfectly with our Solna spirit
and both businesses and those who live here will enjoy being here. We haven't
noticed any downturn in the economy in Solna,” says Lars-Erik Salminen, the
Mayor of Solna. 

“The future is in districts close to big cities like New Ulriksdal. We will
create an environment where it will be attractive to invest since the area will
increase in value with time. Around 1,500 homes and some 5,000 workplaces are
planned for the district. This will be a place in northern Stockholm for people
who want modern housing, events, commerce, good communication systems and
especially, beautiful nature,” says Peab's CEO Mats Paulsson.

The New Ulriksdal will be built on royal land. With its proximity to both a big
city and nature it will offer a very special living and working environment, on
historic land. The first doors in this vibrant, bustling and cultural district
will open in 2009.
For further information, please contact:
Anders Elfner, Deputy CEO Peab +46 733 37 10 09
Gösta Sjöström, Information Director Peab +46 733 37 10 10


Peab AB discloses the information provided herein pursuant to the Securities
Markets Act and/or the Financial Instruments Trading Act. The information was
submitted for publication at 1:00 p.m. on 22 August, 2008.

Previous press releases from Peab are available at www.peab.se


Peab is one of the leading construction and civil engineering companies in the
Nordic countries with a net sale exceeding SEK 30 billion and approximately
12,000 employees. The Group's subsidiaries have strategically located offices in
Sweden, Norway and Finland. The share is listed on the Nordic Exchange. The
registered office of the Group is at Förslöv, Skåne in south of Sweden.