NCC sells property-development project in Helsinki

12/30/2002 9:36 AM EST

NCC Finland Oy reached an agreement on Monday to sell the third and
final phase of its Business Park Airport Plaza property-development
project in Helsinki. The buyer is the Finnish real estate group Polar
Kiinteistöt Oyj. The sale will have a favorable impact on the NCC
Group´s earnings during the fourth quarter of 2002.

The third phase of NCC's Business Park Airport Plaza property-
development project is called "Forte" and consists of about 8,000 square
meters and 191 parking spaces, 151 of which are in a multi-story garage.
Forte was completed in autumn 2002 and about 70 percent of the facility
is occupied. The two stages of the project that were sold previously are
called Airport Plaza Piano, which is now owned by the LEL Employment
Pension Fund, and Plaza Presto, currently owned by the Finnish
Paperworkers' Union. Business Park Airport Plaza houses offices for a
total of about fifty companies with some 700 to 800 workplaces. Airport
Plaza is part of the Aviapolis development area in the city of Vanda,
where Helsinki's airport is located.

As part of the deal, NCC is buying land from Polar Kiinteistöt with a
total of about 700 development rights for housing. Most of these
development rights are located in Vanda and Helsinki. The transaction
also includes one building site with development rights for a 15,900
square meter office building in Aviapolis. The parties have agreed not
to announce the purchase price.

"NCC's strategy is not to bind capital in properties but to develop new
projects. This transaction involves the sale of a completed property as
well as the purchase of valuable land for future development," says
Jorma Ahokas, head of property development in Finland within NCC
Property Development.

For more information:
Jorma Ahokas, senior vice president, Finland NCC Property Development
+358 50673 90
Stefan Holmlund, Information Officer NCC Property Development
tel +46 (0)70 651 1564
Markku Hainari, director, NCC Finland Oy, tel +358 50549 0905.

All NCC press releases are available at www.ncc.info

NCC is one of the leading building and property development companies in
the Nordic countries. In 2001 NCC had 25,000 employees and sales
amounting to SEK 46 billion.