Skanska purchases second residential development site in Cambridge, UK

Skanska purchases second residential development site in Cambridge, UK

Skanska has completed the purchase of its second residential development
site at Great Kneighton in Cambridge, UK. The site extends to around 12
acres and has outline planning permission for up to 310 properties
covering both houses and apartments.

In the next stage, Skanska will submit details to obtain detailed
planning permission for its new homes on this second site. It is
anticipated that the detailed planning application will be submitted
during the first half of 2012 with construction planned to start later
that year.

In January, Skanska purchased its first development site at Great
Kneighton, which extends to around 6.5 acres. Skanska has now received
full planning consent for this residential development scheme, covering
128 properties including both houses and apartments. Construction is due
to start in the fourth quarter of this year.

Skanska UK reported revenues of SEK 14 billion in 2010, with about 4,500
employees. The company is active in building and civil construction,
utilities and building services. In the UK Skanska is also a leader
within the sector for Public Private Partnerships, PPP, also known as
Privately Financed Initiative, PFI. Skanska has also initiated the
development of homes for the UK market.

For further information, please contact:
Tanya Barnes, Head of External Communications, Skanska UK, tel +44 776
988 1546
Edvard Lind, Group Press Officer, Skanska AB, Tel: +46 (0)10-448 88 08
Direct line for media: +46 10 448 88 99

This and previous releases can also be found at
www.skanska.com (http://www.skanska.com/)

Skanska AB may be required to disclose the information provided herein
pursuant to the Securities Markets Act.

Skanska is one of the world's leading project development and
construction groups with expertise in construction, development of
commercial and residential projects and public-private partnerships.
Based on its global green experience, Skanska aims to be the clients'
first choice for Green solutions. The Group currently has 52,000
employees in selected home markets in Europe, in the US and Latin
America.