Fabege's board is evaluating possible offers; recommends that shareholders not take immediate action

Fabege's board 1) is evaluating possible offers; recommends that shareholders not take immediate action Fabege's Board of Directors is evaluating possible offers and therefore encourages shareholders not to immediately take action on Wihlborgs' public tender offer. On July 19, 2004, Wihlborgs Fastigheter AB ("Wihlborgs") announced a public offer to the shareholders in Fabege AB ("Fabege") to tender their shares to Wihlborgs. The Board of Directors of Fabege has now been informed in writing that another established player may issue a public cash offer - with the same price for Fabege's Class A and B shares - that exceeds Wihlborgs' offer of SEK 108 per Class A share and SEK 105.50 per Class B share. The public announcement of such an offer requires, among other things, that this player is given the opportunity to satisfactorily conduct due diligence and finalize the necessary financing. If the discussions progress to the point where this player issues a public offer, it will be done in accordance with the rules of the Industry and Commerce Stock Exchange Committee on public tender offers and would be conditional on 90-percent acceptance, among other things. The Board of Directors of Fabege therefore recommends that shareholders in Fabege not take action on Wihlborgs' offer until the potential cash offer has been further investigated. This recommendation is also based on the fact that acceptances of Wihlborgs' offer by Fabege shareholders are binding and therefore cannot be cancelled. "We on the Board of Directors have previously said that we will investigate other alternatives as part of the process of evaluating Wihlborgs' public offer," says Fabege Chairman Urban Jansson. "In this way we ensure maximum value for all of Fabege's shareholders. It is positive, therefore, that other players have shown an interest in Fabege's shares. Whether this leads to another offer for Fabege's shareholders to decide on remains to be seen." The acceptance period for Wihlborgs' offer is August 25 - September 15, 2004. The Board of Directors plans to provide further information as soon as possible. Fabege AB (publ) The Board of Directors Contact person: Chairman of the Board Mr Urban Jansson, tel +46-8-769 30 21. 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 SEK 16.5 billion with a total of approximately 1.3 million square meters in rentable space (June 30, 2004). Fabege is one of Sweden's largest real estate companies and is listed on the Stockholm Stock Exchange's O-list. Sven Hagströmer and Mats Paulsson have not participated in the evaluation of this matter. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/08/26/20040826BIT00090/wkr0001.pdf

26 Aug 2004 10:43 AM

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