Fabege secures new tenant for over 5,000 sq. m. in downtown Stockholm

Fabege secures new tenant for over 5,000 sq. m. in downtown Stockholm Fabege has signed a six-year lease with the Swedish National Labour Market Administration on the property Elefanten 17 in central Stockholm. The lease covers the entire property, measuring slightly over 5,000 square meters, and a total rent of approximately SEK 16.l5 million per year excluding property tax. The National Labour Market Administration will move in gradually beginning on September 1, 2004. Originally a parking garage centrally located between the city's Central Station and Regeringskansliet Rosenbad (the Government Offices of Sweden), Elefanten was replaced with housing and offices in 2001/2002. Since then the building has served as Fabege's head office. Due to the lease with the National Labour Market Administration, Fabege will move its office to the Globen area. "Elefanten is a property that has recently undergone the kind of improvement that is a key element in Fabege's strategy," says Fabege President Lennart Sten. "By welcoming a first-class tenant like the National Labour Market Administration, we have completed the final step in a successful, value-enhancing transformation. For us, the signing of this lease is a further indication that the downturn in the Stockholm market is over; recent activity in the market has reflected an overall economic recovery." FabegeAB(publ) For further information, please contact: President Lennart Sten, +46 8 769 30 10, +46 70 697 81 70 Head of Corporate Communications Helena Stångberg, +46 8 769 30 21, +46 70 619 23 44 Fabege is a streamlined real estate company that owns and manages commercial properties in the Stockholm region. Its focus is on properties which, through improvements, development or area-specific circumstances, have the potential to contribute positively to cash flow and appreciation in value. The portfolio is concentrated in Stockholm, Kista and Marievik. The aggregate value of Fabege's property portfolio amounts to around SEK 17 billion with a total of approximately 1.3 million square meters in rentable space (Dec. 31, 2003). Fabege is one of Sweden's largest real estate companies and is listed on the Stockholm Stock Exchange's O-list. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/08/10/20040810BIT00100/wkr0001.pdf

10 Aug 2004 11:48 AM

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