Wihlborgs owns 96 per cent of the shares in Fabege

Wihlborgs owns 96 per cent of the shares in Fabege The offer is not open to individuals whose participation is dependent on further prospectuses, registration or any action beyond what is prescribed in Swedish law. This press release may not be distributed or published in countries where the offer or its distribution requires action under the preceding paragraph or conflicts with applicable rules in the country concerned. - At the expiry of the extended offering period on 6 October 2004 Wihlborgs Fastigheter AB ('Wihlborgs') owned 356,310 Class A shares and 63,886,076 Class B shares, equivalent to 96.0 per cent of all shares in Fabege AB ('Fabege'), with 95.7 per cent of the voting rights. - During the extension Wihlborgs has thus acquired a further 4,608,522 Class B shares and 23,621 Class A shares, equivalent to 6.9 per cent of all shares, with 6.9 per cent of the voting rights(1). These acquisitions mean that Wihlborgs is issuing a further 4,627,442 new shares, convertible bonds with a nominal value of SEK 9.3 million equivalent to 87,860 shares after conversion, and is paying a further SEK 14.5 million in cash. The total number of shares in Wihlborgs before conversion but after the new share issues is thus 89,878,441. Convertible bonds have been issued at a total nominal value of SEK 637.6 million, equivalent to 6 million shares after full conversion. - Wihlborgs intends as soon as possible to call for compulsory redemption of remaining shares in Fabege. Furthermore, Wihlborgs will request of the board of Fabege that a special general meeting be called as soon as possible to elect a new board for Fabege. - In the pro forma financial statements the equity/assets ratio as of 30 June 2004, before full conversion, is estimated at approx. 26 per cent, compared with 28 per cent before the Offer. - Those who have accepted the Offer will receive a cash payment starting on 15 October 2004. Those who have selected the Share or Convertible Bond options will receive shares or convertible bonds when registration of the share issues is completed, starting on 20 October 2004 - Wihlborgs may acquire further shares in Fabege via the market. "It is with great satisfaction that I can state that we have now attained over 90 per cent of the shares and voting rights in Fabege, and that we can thus merge the companies at a fast tempo. We can hereby create significant value through continued good development as a result of a stronger position on the rental market and a reduced cost level," says Erik Paulsson, Wihlborgs Fastigheter's CEO. (1) To this end SEK 27.9 million has nominally been acquired of the remaining convertible loan in Fabege. Wihlborgs' holding in Fabege remains unchanged at 96 per cent of the shares after full conversion Wihlborgs Fastigheter AB (publ) For further information: Erik Paulsson, President and CEO, Tel.: +46 (0)8-555 148 18, +46 (0)733-87 18 18 Olle Knaust, deputy CEO and CFO, Tel.: +46 (0)8-555 148 10, +46 (0)733-87 18 10 Mats Berg, communications manager, Tel.: +46 (0)8-555 148 20, +46 (0)733-87 18 20 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/10/08/20041008BIT20020/wkr0001.pdf

8 Oct 2004 8:30 AM

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