JM does not take responsibility for the translation

Interim Report January - September 2004

Press release 11/1/2004 3:43 PM

Interim Report January - September 2004

- Net sales increased to SEK 5,842m (5,563) and profit for the period after tax reached SEK 201m (209)
- Profit after financial items amounted to SEK 287m (300)
- Property sales of SEK 722m (2,116) provided capital gains of SEK 96m (400)
- The number of sold residential units rose to 3,349 (2,007)
- In the past 12-month period return on equity amounted to 5% (0). Earnings per share for the first nine months of the year amounted to SEK 7 (7)
- A stable cash flow raised the equity ratio to 42% (33)

Stockholm, 1 November 2004

Johan Skoglund
President

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:
23 February 2005, Year-end report 2004
28 April 2005, Interim Report January - March 2005
28 April 2005, Annual General Meeting

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 sales in 2003 amounted to approximately SEK 8 billion. The company is Sweden's leading housing developer, and the core business is project development of residential properties 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
Street address: Telegrafgatan 4, Solna
Telephone +46 8 782 87 00 Fax +46 8 782 86 00
www.jm.se
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http://www.waymaker.net/bitonline/2004/11/01/20041101BIT21650/wkr0001.pdf Full report