Wihlborgs Improved Result by 36% to SEK 192 Million

STOCKHOLM, Sweden, May 05, 2003 (PRIMEZONE) -- Wihlborgs


 Interim report January-March 2003
 - The profit after financial items increased to SEK 192 million
   (141)
- EPS after tax increased to SEK 2.21 (1.60)
 - Wihlborgs owns 7,186,500 B shares in Drott AB (publ), equivalent to
   8% of the capital and 7.6% of the votes
 - Repurchase of 302,900 own shares during the period. Total holding of
   720,400 shares, equivalent to 1.2% of the capital and votes

Wihlborgs' profit after financial items increased by 36% to SEK 192 million (141). EPS after tax rose to SEK 2.21 (1.60). The profit includes gains from property sales amounting to SEK 122 million (45).

"We can record a good result and development despite the recession and the fact that because of seasonal expenses the first quarter is often the weakest in the year " commented Erik Paulsson, president and CEO, Wihlborgs Fastigheter AB.

"In a situation in which the Stockholm market has weakened it is gratifying to note that Wihlborgs' other main market, the Oresund region, is still stable and is displaying a good demand for premises. Our strategy of focusing on these two main markets is thus showing its strength," Erik Paulsson continued.

"Through our investment in Drott we are getting part of a very interesting property stock at a great discount. We assess that there are great possibilities for an increased pace of change and value-creating development within Drott."

Appendix: Interim report January-March 2003


For further information:
Erik Paulsson, president and CEO
tel +46 (0)8-555 148 18, +46 (0)733-87 18 18 

Olle Knaust, CFO
tel +46 (0)8-555 148 10, +46 (0)733-87 18 10 

Mats Berg, communications manager
tel +46 (0)8-555 148 20, +46 (0)733- 87 18 20

Wihlborgs Improved Result by 36% to SEK 192 Million

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