Peab's acquisition of Seicon complete

Foersloev, SWEDEN


FOERSLOEV, Sweden, Sept. 25, 2003 (PRIMEZONE) -- Peab's acquisition of the Finnish construction company, Seicon, has been approved by the Finnish competition authorities. The approval was required for the deal to go ahead.

At the end of August, Peab announced the acquisition of 86 per cent of the shares in Seicon, which in 2002 reported sales of EUR 110 million. Seicon has around 300 employees and an order book exceeding EUR 60 million.

Following the acquisition, it is expected that Peab will reach sales of around EUR 160 million in Finland. The date of possession is set for 24 September 2003. Seicon will be consolidated in Peab from 1 October 2003.

- Now that the acquisition is complete, we can push on and develop Peab at the Finnish building market, comments Peabs deputy MD Gote Brannvall.

For further information contact: Gote Brannvall, Deputy MD Peab, +46 733 37 10 04, Gosta Sjostrom, Information Manager, Peab +46 733 37 10

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

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