Kungsleden Sells and Changes Forecast


STOCKHOLM, Sweden, Dec. 23, 2003 (PRIMEZONE) -- The property company Kungsleden AB (publ) has sold the property Skelleftea Loke 7. The property contains 9.000 sqm of lettable area of which 5.000 sqm is hotel and the remaining part office and retail. The sales price amounts to MSEK 50 whith a profit of MSEK 12.

Kungsleden has also sold the property Goteborg Majorna 164:2. The property contains 6.000 sqm of lettable area of which the majority is industrial and warehouse. The sales price amounts to MSEK 38 with a profit of MSEK 5.

As a consequence of the sales made during the fourth quarter the company changes its forecast for the year 2003 from profit before taxes of at least MSEK 450 to a profit before taxes of MSEK 475.

Kungsleden's strategy is to ensure sustainable high and stable returns proceeding from its existing holding, and through acquisitions and disposals. Kungsleden's property holding comprises 420 properties with a book value of approximately SEK 10.3 bn. The holding is located in a total of 119 municipalities, although concentrated on the Swedish provinces of Gotaland and Svealand. Kungsleden has been quoted on the OM Stockholm Exchange O-list since 14 April 1999.

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