Skanska Secures Construction Management Assignment for USD 61 M (SEK 450 M) for Hospital Project in Ohio

Stockholm, SWEDEN

STOCKHOLM, Sweden, Nov. 15, 2005 (PRIMEZONE) -- Skanska has secured a contract for construction management of a new hospital in Ohio. The total value of the project is USD 109 M. Skanska's portion of the contract amount is USD 61 M, approximately SEK 450 M, which is included in fourth-quarter order bookings.

Skanska is responsible for construction management of the project comprising a 214-bed, 50,000 square meter (523,000 square foot) hospital and rehabilitation center as well as a power house on a campus setting. The new buildings will replace an existing hospital.

Preparatory work has already begun. Construction will begin next autumn and the project is scheduled to be completed in December 2007.

The project is being carried out by Skanska USA Building's unit in Michigan in a joint venture with Shook Construction.

Skanska USA Building Inc. is a leading construction company in the US providing construction, pre-construction consulting, general contracting design-build and pharmaceutical validation services to a broad range of U.S. industries, including pharmaceutical and biopharmaceutical, educational, high-tech, healthcare, aviation, transportation and sports and entertainment. The company is headquartered in Parsippany, New Jersey, and has 4,000 employees.

Skanska is one of the world's leading construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. The Group currently has 54,000 employees in selected home markets in Europe, in the US and Latin America. Sales in 2004 totaled SEK 121 billion, USD 17 billion.

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