NCC sells office property at Frösunda Port in Solna for SEK 670 million

12/18/2000 9:18 AM EST

NCC Real Estate has concluded an agreement with AMF Pension regarding the
sale of the Frösunda Port property in Solna, just north of central
Stockholm, for SEK 670 million. The sale will yield a development gain of
SEK 130 million for NCC.

The property sold to AMF Pension is Frösunda Port (Hilton 2), which
comprises approximately 24,000 square meters of floor space and 600 garage
spaces. The property was completed for occupancy during autumn 2000 and is
currently fully leased. The tenants are Compaq and Canon, whose Swedish
head offices - which have 700 and 150 employees, respectively - are based
in the property.

"This transaction is in line with our strategy of offering investors
development projects in expanding markets in the Nordic region," says
Hans-Olof Olsson, Regional Manager at NCC Real Estate.

"The acquisition is part of our strategy for increasing our real estate
portfolio," says Tom Jensen, Vice President - Real Estate at AMF Pension.
"The property is located in an area undergoing strong expansion and fits
in well with AMF Pension's current portfolio in terms of location, quality
and tenant composition."

The Frösunda Port property is located in Frösunda, Solna, an area that NCC
is developing into an exciting and interesting urban district that is less
than 10 kilometers from the center of Stockholm. Frösunda contains a well-
balanced mix of offices and housing that are situated close to both
beautiful rural areas and key transport routes, as well as to Stockholm's
Arlanda and Bromma airports.

Adjacent to Frösunda Port, NCC will shortly initiate work on its next
development project in the area, which will consist of approximately
20,000 square meters of office space with the best possible location in
terms of proximity to the E4 Highway. Also at Frösunda, NCC is building
the Stockholm region's largest new housing area, comprising 1,500
apartments during the period up to 2005.

In addition, NCC is developing other office and residential properties in
the City of Solna. Close to Solna Station, work is under way on a 13,000-
square-meter office property (Tygeln block) and, in the next few years,
work will commence on the development of a new urban district containing
offices and housing at Ulriksdalsfältet, a site that NCC acquired during
summer 2000.

The sale of Frösunda Port (Hilton 2) will be included in NCC Real Estate's
fourth-quarter earnings for real estate development.

For further information, please contact:
Hans-Olof Olsson, Regional Manager, NCC Real Estate Stockholm Region
(Tel: +46-8-750 31 72 or +46-70-524 00 99)

All NCC:s pressreleases can be found on www.ncc.se