Interim Report for Nordisk Renting AB January 1

STOCKHOLM, Sweden, Nov. 4, 2002 (PRIMEZONE) -- Nordisk Renting AB:

- Group profit before capital gains and tax amounted to SEK 237 m (225). Profit after capital gains but before tax was SEK 354 m (392).

- Property was acquired and new investments made for a total of SEK 1 541 m (3,031).

- Property sales of SEK 1 188 m (566) generated a capital gain of SEK 117 m (167).

The first nine months of the year were characterized by a high level of business activity, with comprehensive acquisitions and sales. Properties acquired, new investments made during the period and agreements signed for new investments include the following:

The acquisition and conversion of a logistics property in Jarfalla outside Stockholm for SEK 215 m, with Dahl -- the leading Nordic wholesale group within heating, ventilation and sanitation, water and sewer supply -- as the long-term tenant.

The acquisition and conversion of a shopping centre in the Finnish town of St. Karins, northeast of Turku, for SEK 160 m, with the Kesko retail chain as the long-term tenant.

The construction of a warehouse facility in Hyvinge, fifty kilometres north of Helsinki, for the Finnish wholesale group Ahlsell Oy. This investment is worth approximately SEK 114 m.

The acquisition of a newly completed office building in Helsinki for approximately SEK 200 m, with the telecom operator Sonera as the long-term tenant.

Properties sold during the period include Radisson SAS Hotel in Amsterdam and Quality Hotel Panorama in Gothenburg.

Group net turnover for the period was SEK 1,087 m (962). On September 30, 2002, the balance sheet total was SEK 15,882 m, compared with SEK 15,465 m at the beginning of the year and SEK 14,818 m on 30 September 2001. At period-end, the Group managed 198 properties totalling approximately 1.7 m square metres.

For the full year 2002, the Group's profit from operating activities excluding capital gains is expected to exceed the corresponding result for 2001.

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


For further information, please contact: 
Nordisk Renting AB
Reinhold Geijer, MD 
+46 8-670 98 00

Interim Report for Nordisk Renting AB January 1 - September 30, 2002

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