JM does not take responsibility for the translation

Interim report January – March 2007

Report 4/26/2007 1:35 PM

High Profitability and Stable Sales

- Income increased by 4 percent to SEK 3,027m (2,898) and the number of residential units sold totaled 899 (946)

- Earnings before tax rose sharply to SEK 492m (356) and net profit after tax for the period climbed to SEK 358m (287). The operating margin increased to 16.4 percent (13.0)

- Property sales of SEK 471m (511) provided capital gains of SEK 76m (65)

- Return on equity for the past twelve months increased considerably to 48.3 percent (36.2). Earnings per share for the first quarter climbed to SEK 3.90 (2.90)

- The Group’s cash flow including property sales was SEK 272 million (64)

Please find the full report attached (PDF).