JM does not take responsibility for the translation

Interim Report January - March 2004

Report 4/28/2004 1:51 PM

Interim Report January - March 2004

- Net sales increased to SEK 1,914m (1,765) and profit for the period after tax reached SEK 54m (234)
- Profit after financial items amounted to SEK 77m (329)
- Property sales of SEK 404m (1,897) provided capital gains of SEK 61m (367)
- The number of sold residential units more than doubled to 1,265 (490)
- In the past 12-month period return on equity amounted to 0% (7). Earnings per share for the period amounted to SEK 2 (8)
- A continued strong housing market in the first quarter and improved product adaptation raised sales of homes to new record levels

Stockholm, 28 April 2004

Johan Skoglund
President and CEO


This interim report has not been reviewed by the company's auditors.

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

Financial calendar
18 August 2004, Interim Report January - June 2004
1 November 2004, Interim Report January - September 2004

JM AB is a public limited company listed on the Stockholm Stock Exchange. JM has around 2,200 employees in Sweden, Norway, Denmark and Belgium and annual sales of approximately SEK 8 billion. The company is Sweden's leading housing developer, and the core business is project development of residential property and, to a selective extent, commercial premises in central areas of growth markets. JM's operations are characterised by a broad focus on quality and the environment.

JM AB, SE-169 82 Stockholm
Visitors' address: Telegrafgatan 4, Solna
Tel. +46 8 782 87 00 Fax +46 8 782 86 00
www.jm.se
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