Skanska develops new office project on Hjälmarekajen

   Press Release

September 30, 2004

Skanska develops new office project on Hjälmarekajen in Malmö

Skanska Öresund has signed the first lease for a new office development project on Hjälmarekajen in Malmö. The lease covers about 2,700 square meters and is for eight years. Consequently, Skanska Öresund is starting the first phase of a total 9,300 square meters of newly constructed office space on the site where Skanska's Malmö office once stood.

The construction work being carried out by Skanska Sweden will begin in the fourth quarter of 2004. Skanska Öresund, which is part of Skanska Project Development Sweden, will invest a total of about SEK 200 M in the project. The property will be completed for occupancy in June 2006. Discussions have been initiated with other tenants regarding the remaining floor space.

"We are very pleased to be able to contribute in developing Universitetsholmen, Malmö's future growth area," says Nils Olof Nilsson, President of Skanska Öresund. "Hjälmarekajen is a new project at a fantastic location - an office with a sea view, near the city and with the future City Tunnel cross-town connection just outside the entrance."

Skanska Project Development Sweden focuses primarily on the initiation, development, management and sale of commercial property projects (offices, logistics and volume retail centers). The main emphasis is on Stockholm, Gothenburg and the Öresund region.

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For further information please contact:

Richard Hultin, Marketing Manager, Skanska Öresund,
tel +46 40 14 44 34 or +46 70 673 15 56
Peter Gimbe, Senior Vice President Communications,
Skanska AB, tel +46 8 753 88 38