Drott: Three-Month Report, 2002


STOCKHOLM, Sweden, May 6, 2002 (PRIMEZONE) -- Drott:


SEK M                                          Jan-Mar 2002 Jan-Mar 2001
Ongoing property management operations              160          220
("operations")
Result from property sales                          120          320
Nonrecurring items                                    -           13
Profit before tax                                   280          553
                                                                  
Cash flow/share (operations), SEK                  2.60         2.94

-  lower profit mainly due to major property sales in 2001
-  rental revenues rose by 5 percent in the like-for-like portfolio

Outlook for 2002


- full-year profit from operations will be lower than previous year,
  as announced in year-end report, and is estimated at approximately
  SEK 700 M before tax
- cash flow is expected to exceed SEK 11.00 per share
- in addition - gains on property sales (Jan-March: SEK 120 M before tax)

Drott owns commercial and residential properties in regions and metropolitan areas with faster long-term growth than the rest of the country. Three-quarters of rental revenues are from the Stockholm region, and the rest from the Oresund and Gothenburg regions. Appraised property values as of Dec. 31, 2001: SEK 39.3 billion. More than 50,000 shareholders. Market capitalization of slightly over SEK 10 billion (excl. repurchased shares

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The following files are available for download:


www.waymaker.net/bitonline/2002/05/06/20020506BIT00410/wkr0001.doc
The Full Report

www.waymaker.net/bitonline/2002/05/06/20020506BIT00410/wkr0002.pdf
The Full Report