NCC leases out a third of Frösunda Front in Solna

12/6/2002 4:54 AM EST

A number of major rental contracts have been signed for NCC Property
Development's Frösunda Front project in Solna, north of Stockholm.
Nearly 6,000 square meters have been leased out, corresponding to about
a third of the total floor space. Accordingly, NCC has established an
annual rent level of approximately SEK 2,300 per square meter in
Frösunda's best location.

Frösunda Front, which NCC is developing and building, is located
adjacent to the E4 expressway in Frösunda, Solna. The project comprises
18,000 square meters of office space, as well as parking and restaurant
facilities. The property is situated next to Frösunda Port, which was
developed by NCC earlier.

Interest in becoming established in the property is considerable and the
following companies have selected Frösunda Front as the location for
their Swedish offices:

DB Unigrid, an IT operations provider whose business concept is to
supply effective IT services for operations and networks, allowing
customers to focus on their core operations. The company is a wholly
owned subsidiary within the EDB Business Partner Group, which is listed
on the Oslo Stock Exchange.

Eli Lilly and Company, formed in 1876 and one of the world's largest
pharmaceuticals companies. The company, which is headquartered in
Indianapolis, in the US, is listed on the New York Stock Exchange. Eli
Lilly Sweden, which is relocating to Frösunda Front, markets
prescription pharmaceuticals in Sweden.

SCAN COIN, which offers products and systems for the rational handling
of coins and banknotes throughout the world. Its head office and
production are located in Malmö. The company's Swedish sales office is
moving to Frösunda Front.

Lease lengths vary between slightly more than three years and five
years. Occupancy will take place during summer 2003.

"Our vision for Frösunda Front is that it will provide efficiently
functioning workplaces in an excellent showcase location on the approach
route to Stockholm. The proximity of the E4 expressway provides
effective communications, such as to and from Stockholm-Arlanda Airport.
It is gratifying that tenants are showing such great interest in the
project, despite the low level of activity in the rental market in
Stockholm," says Olle Berntson, Head of Property Development at NCC
Property Development.

For further information, please contact:
Olle Berntson, Manager property development NCC Property Development
Tel +46 8 585 5314
Gisela Lindstrand, Press Relation Manager NCC AB
Tel +46 8 585 52346 or +46 70 392 9500
Stefan Holmlund, Marketing Manager NCC Property Development
Tel +46 8 585 51954