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Interim Report January - June 2011

Report 8/24/2011 8:00 AM

Continued good demand in JM’s main markets

- Revenues amounted to SEK 5,228m (4,114), including a negative impact on revenue of SEK -360m (-216) due to restatement according to IFRIC 15. Revenue according to segment reporting shows an increase of SEK 1,258m (-91)

- Number of residential units sold increased to 1,661 (1,462) and housing starts increased to 1,851 (1,621)

- Profit before tax improved to SEK 594m (294) including a negative impact on revenue of SEK -47m (-38) due to restatement according to IFRIC 15. Profit after tax improved to SEK 422m (205). Operating margin increased to 11.8 percent (8.0)

- Return on equity for the past twelve months was 21.4 percent (14.7). Earnings per share during the first six months of the year amounted to SEK 5.10 (2.50)

- Consolidated cash flow including net investment in properties was SEK -143m (-236)

- Major acquisition of land in Stockholm and residential building rights in Oslo completed after the end of the reporting period with potential for development of about 3,600 residential units.