JM does not take responsibility for the translation

JM - Payment of the redemption proceeds on July 1, 2005

Press release 6/27/2005 4:26 PM

JM's redemption programme as determined by the Annual General Meeting of
April 28 entitled shareholders to redeem every eighth share in JM for a
redemption amount of SEK 285 per share, totalling approximately SEK 966
million. The payment of the redemption proceeds from VPC will take place on
July 1, 2005.

Stockholm, 27 June 2005
JM AB
Corporate Communications