Annual General Meeting of Drott AB

Drott changing name to Fabege Distribution of Bostads AB Drott Redemption of SEK 3.3 billion Today's Annual General Meeting of Drott AB (publ) resolved as follows: · No cash dividend will be paid for the fiscal year 2003. Instead, there will be a distribution of the shares in Bostads AB Drott and redemption of shares corresponding in value to SEK 3.3 billion. The record date for the distribution of Bostads AB Drott is April 2, 2004. For every four shares in Drott AB of either class A or B, shareholders will receive one share in Bostad AB Drott. · It was resolved to transfer SEK 3.3 billion to shareholders through a share redemption. Shareholders will be offered the opportunity to redeem one of every four shares they own in Drott (changing to Fabege) for SEK 150 in cash per share. An information brochure is scheduled to be sent to shareholders who are registered directly in their own names in early May 2004. The record date to receive redemption rights is April 27, 2004. · Board of Directors' election: Urban Jansson, Anders Böös, Lars Söderblom and Jonas Wahlström were reelected, while Sven Hagströmer, Mats Paulsson, Ann-Marie Pouteaux and Lennart Sten were elected as new members. · Auditor's election: Ernst & Young AB was elected as the company's auditor, with Anders Wiger as chief auditor. · Amendment to Articles of Association: It was resolved that Drott AB (publ) will change its name to Fabege AB (publ) and that the limits for the share capital will be amended to no less than SEK 120,000,000 and no more than SEK 480,000,000. · Cancellation of 450,000 shares: Drott's (changing to Fabege) entire holding of its own shares, 450,000 class B shares, will be reduced through a transfer to non-restricted equity. Following the cancellation, the number of registered shares in Drott AB (changing to Fabege) will be 89,314,689. · The Board of Directors was authorized, until the Annual General Meeting in 2005, to decide to acquire and transfer the company's own shares. These shares may be acquired on a stock exchange or other regulated marketplace up to a maximum of 10 percent of all the shares in the company. The purpose of the authorization is to allow the company, on an ongoing basis, to adjust its capital structure to its capital requirements and thereby contribute to increased shareholder value as well as to finance future acquisitions of real estate, shares and participating interests. · It was resolved to issue convertible debentures for a total nominal amount of SEK 30 million to employees of Drott (changing to Fabege). The debentures mature on November 30, 2008. Conversions will be permitted during the period June 30, 2006 through October 31, 2008 at a conversion price which will be set at between 110 and 119 percent, depending on the average listed share price for Drott AB (changing to Fabege) during the period April 13-16, 2004. The debentures will bear an interest rate set at between STIBOR plus 0.25 and STIBOR plus 1.65 percentage points, depending on which conversion rate is used. Conversions will be permitted to class B shares and entail a maximum dilution effect of approximately 0.6 percent of the share capital and voting rights calculated as the number of future shares relative to the number of current and future shares without taking into account the approved share redemption. In the event of full conversion and full support for the share redemption, the maximum dilution will not exceed 0.8 percent of the share capital and voting rights without taking into account any re- calculation of the conversion price owing to the share redemption. · It was resolved to approve the decision to issue convertible debentures made by Bostad AB Drott's Annual General Meeting on February 9, 2004. The debentures, which are maximized at SEK 29.5 million, mature on November 30, 2008 and will bear a STIBOR-related interest rate that will be set at between STIBOR minus 1.00 and STIBOR minus 0.05 percentage points, depending on the average listed share price of Bostadsaktiebolaget Drott during the period April 13-16, 2004. The conversion price will be set at between 110 and 117 percent, depending on the average listed share price for Bostadsaktiebolaget Drott as described above. Conversions will be permitted during the period June 30, 2006 and October 31, 2008. In the event of full conversion, the dilution effect amounts to not more than 2.4 percent of the share capital and voting rights, estimated as the number of future shares relative to the number of current and future shares. · To reduce the time needed for the cancellation and redemption, it was resolved to issue not more than 22,691,172 class C shares to be subscribed by Handelsbanken, which has undertaken to pledge all shares for redemption. · It was resolved that a Nomination Committee will be appointed consisting of the Chairman of the Board and one representative of each of the six largest shareholders. The composition of the Committee will be announced in connection with the publication of Fabege's interim report for the third quarter of 2004, which is scheduled for October 26, 2004. In the event of a subsequent change in the ownership structure, the composition of the Committee will also be changed so that the Committee will be constituted on each occasion of representatives of the company's six largest shareholders plus the Chairman. · Urban Jansson and Jonas Wahlström were elected Chairman and Deputy Chairman, respectively, by the statutory Board meeting. · Bonus for outgoing President Anders Böös The Board of Directors has decided to issue a special bonus of SEK 1 million to outgoing President Anders Böös for his efforts during the past year. Rescheduled release of Q1 interim report Drott (changing to Fabege) will release its interim report for the period January - March 2004 on May 10, 2004, not May 4 as previously announced. This coincides with the release of Bostads AB Drott's interim report for the period January - March 2004. New President takes over As previously announced, Lennart Sten will take over as the new President of Fabege AB on March 31, 2004. Lennart Sten was employed most recently as President of GE Real Estate (Sweden) AB, a subsidiary of General Electric with a Swedish property portfolio worth approximately SEK 14 billion. Anders Böös, the outgoing President of Drott AB, will remain a member of the Board of Fabege AB and also join the Board of Bostads AB Drott. Drott AB (publ) changing name to Fabege AB (publ) For further information, please contact: Urban Jansson, Chairman, telephone +46 705 90 80 91 Anders Böös, outgoing President, telephone +46 70 720 36 06 Fabege focuses on commercial real estate in the Stockholm region. The company owns and manages commercial properties that, through enhancements, development or area-specific circumstances, have the potential to contribute positively to cash flow and appreciation in value. The aggregate value of Fabege's property portfolio amounts to slightly over SEK 18 billion, with about 1.3 million square meters in rentable space. The portfolio is concentrated in Stockholm, Kista and Marievik. Fabege is one of Sweden's largest real estate companies and is listed on the Stockholm Stock Exchange's O-l ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

6 Apr 2004 10:46 AM