Improved income from property management and increased dividend, but changes in value cause reported loss

- Rental income for 2008 amounted to SEKm 2,501 (SEKm 2,259
corresponding period previous year).
- Income from property management improved by 5% to SEKm 973 (924),
equivalent to SEK 5.93 (5.63)
  per share.
- The changes in value on properties amounted to SEKm -1,262 (920)
and on interest rate derivatives to
  SEKm -1,010 (99).
- Net income after tax for the year amounted to SEKm -663 (1,487),
equivalent to SEK -4.04 (9.07)
  per share.
- The Board proposes a dividend of SEK 3.15 (3.00) per share,
corresponding to an increase of 5%.
- The investments amounted to SEKm 2,738 (2,598) of which SEKm 1,212
(1,514) refer to acquisitions
  and SEKm 1,526 (1,084) to new construction, extensions
and refurbishments.
- The total value of the properties amounted to SEKm 29,165 (27,717)
with a loan to value ratio
  of 50% (45%). Unutilized credit in long term credit
agreements amounted to SEKm 1,702 (1,375).

Income from property management for the period, i.e. net income
excluding changes in value and tax, amounted to SEKm 973 (924),
equivalent to SEK 5.93 (5.63) per share. The improvement is 5% and is
due to higher rental income and the effect of investments made but
has also been limited by increased interest rate costs. During the
year, changes in value on properties and derivatives amounted to,
respectively, SEKm -1,262 (920) and SEKm -1,010 (99).

During the year investments totalling SEKm 2,738 (2,598) were made,
of which SEKm 1,212 (1,514) were acquisitions and SEKm 1,526 (1,084)
new construction, extensions and refurbishment."This year's income from property management and cash flow is the
highest ever" comments CEO Håkan Hellström. "The negative changes in
value on properties and derivatives, however, cause Castellum to
report a loss for the first time" adds Håkan Hellström.

At today's meeting, the Board of Directors decided on the following
proposals for the Annual General Meeting:
- a dividend of SEK 3.15 per share and Tuesday, March 31, 2009 as
record day for dividend,
- a renewed mandate for the Board to decide on purchase and transfer
of own shares.

Enclosure: Year-end Report 2008

Castellum is one of the major listed real estate companies in Sweden.
The fair value of the real estate portfolio amounts to approx. SEK 29
billion, and comprises 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, Mälardalen and Eastern Götaland.
Castellum is listed on NASDAQ OMX Stockholm AB Large Cap.


For further information, please contact
Håkan Hellström, CEO, phone +46 31 60 74 00 / mobile +46 705-60 74 56
Ulrika Danielsson, Finance Director, phone +46 31 60 74 00 / mobile +
46 706-47 12 61

www.castellum.se

Castellum AB (publ) discloses the information provided herein
pursuant to the Securities Markets Act and/or the Financial
Instruments Trading Act.