JM does not take responsibility for the translation

Year-end report for 2002

Report 2/13/2003 8:45 AM

Year-end report for 2002

·Profit after financial items amounted to SEK 368m (1,629)

·The SEK 385m decline in earnings in a number of housing
projects in the Stockholm city region is attributable to a more cautious
market assessment and unforeseen cost increases

·SEK 256m (39) write-down of development land and properties,
primarily in Stockholm, due to changed planning and market assessments,
of which SEK 241m (0) is charged to profit from project development

·Other operations are developing according to plan

·Property sales of SEK 3,015m (4,074) generated capital gains of
SEK 523m (928), of which SEK 473m (166) is included in profit from
project development

·Profit from project development amounted to SEK 459m (957) and
the margin amounted to 5.4% (11.8)

·Return on equity was 7% (30) and earnings per share amounted to
SEK 9 (36)

·The Board of Directors proposes a dividend of SEK 10 (14) per
share


Stockholm, 13 February 2003
JM AB (publ)


Board of Directors


Additional information and financial calendar
For additional information, please contact
Johan Skoglund, President and CEO +46 8 782 89 39
Claes Magnus Åkesson, CFO +46 8 782 89 71

The printed annual report for 2002 will be available at JM's head office
on 27 March.

The Annual General Meeting will be held at 5 p.m. on 23 April 2003 at
JM's head office, Telegrafgatan 4, Solna

23 April 2003 Interim report for the period January - March 2003
21 July 2003 Interim report for the period January - June 2003
22 October 2003 Interim report for the period January - September 2003


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The following files are available for download:
http://www.waymaker.net/bitonline/2003/02/13/20030213BIT00180/wkr0001.doc The full year-end report
http://www.waymaker.net/bitonline/2003/02/13/20030213BIT00180/wkr0002.pdf The full year-end report