NCC sells property in Düsseldorf for SEK 290 million

12/10/2001 3:41 AM EST

NCC has signed an agreement with Internationales Immobilien Institut
(iii Funds) of Germany regarding the sale of the Seestern B1 property in
Düsseldorf, Germany, for approximately SEK 290 million (DEM 59.5
million). The sale will generate a gain of about SEK 32 million (DEM 6.6
million), which will be included in the NCC Group's earnings for the
fourth quarter.

The sale relates to the Seestern B1 project in Neues Zentrum Seestern in
Düsseldorf. Seestern, which occupies a central location in Düsseldorf on
the western side of the Rhine, is one of the most important areas in
Germany for high-tech companies. The property has 10,000 square meters
of office space and is fully rented to Ericsson. The purchaser is the
German company Internationales Immobilien Institut, which belongs to the
Hypovereinsbank in Munich, Germany.

This is one of the final stages in Seestern that is now being sold and
the area is thus fully developed. The site in Seestern was acquired at
the beginning of the 1990s and, at that time, included development
rights for an area covering 80,000 square meters. The weakened
conditions in the real estate market led to the project being delayed
and the first stage, Ericsson's head office in Germany, was started in
October 1996 and completed two years later. Stages 2 and 3 were
completed at approximately the same time. The fourth stage was
inaugurated in October 1999 and included a hotel, among other features.
Fully developed, NCC's involvement in Seestern comprises 87,000 square
meters of hotel, offices, retail stores and apartments, of which the
final stages will be completed during 2002. Apart from Ericsson, other
notable companies established in the area include Vodafone, Xerox, MCI
Worldcom, Hitachi and Rockwell Electronic.

"This sale is in line with NCC's strategy of selling fully developed
properties to investors," says Magnus Mannesson, President of the NCC
Property Development business area.

For further information, please contact:
Magnus Mannesson, President NCC Property Developent, tel +46 8 585 52275
Gisela Lindstrand, Press Relation Manager NCC AB Tel +46 8 585 52346
or +46 70 392 9500
Lena Fläder, Information Director NCC Property Development,
tel +46 8 585 52024

All of NCC's press releases are available on www.ncc.se