Kista Science Tower ready in February 2004

12/17/2002 8:18 AM EST

NCC and Vasakronan - the co-owners of the company implementing the Kista
Science Tower project - have jointly concluded that the project will not
be completed until February 1, 2004. This is due to alignments of the
project, among other factors. As a consequence of this, the earliest
date at which Vasakronan can exercise its option to acquire the
remaining 50 percent of the project has been deferred until June 1,
2004. According to the agreement, the purchase consideration for the
remaining portion will be based on a market valuation of the property at
the time the option is exercised.

"The decision taken by NCC and Vasakronan was arrived at jointly. We
will complete the project in stages as tenants move in," says Erik Eken,
head of property development at NCC Property Development and President
of Kista Science Tower KB.

"The rental market in Stockholm is currently weaker. In contrast, we
foresee major potential that the market will become brighter by the
autumn of 2004," says Håkan Bryngelson, President and Chief Executive
Officer of Vasakronan.

In total, Kista Science Tower comprises 55,000 square meters of floor
space, of which 43,000 is rentable office space. To date, one fifth is
leased. Tenants include Mentor Graphics Scandinavia, Senseboard
Technologies, Handelsbanken and service suppliers SATS Sportsclub,
Scandinavian Service Partner och Consess.

For further information, please contact:
Håkan Bryngelson, President and Chief Executive Officer, Vasakronan
Tel +46 8 783 21 05
Bengt Möller, Senior Vice President Corporate Communications, Vasakronan
Tel +46 8 783 21 09 or +46 70 593 9171
Erik Eken, Head of property development, NCC Property Development ,
Tel +46 8 585 53018 or +46 70 621 0724
Gisela Lindstrand, Press Relations Manager NCC
Tel +46 8 585 52346 or +46 70 392 9500