Interim Report January-March 2009

Interim Report January-March 2009

• Net operating income increased to SEK 348m (344), despite a fall in rental
income to SEK 548m (561) due to net sales of properties
• The surplus ratio increased to 64 per cent (61)
• Earnings from property management activities grew by 10 per cent to SEK 148m
(135)
• The loss after changes in value and tax was SEK -81m (388) and earnings per
share after dilution were SEK -0.49 (2.28)
• Equity per share was SEK 57 (60)

“By squeezing costs and streamlining our organisation, we improved the surplus
ratio by 3 percentage points in the first quarter. The profit from property
management activities increased by 10 per cent despite a smaller portfolio and
one-off charges to financial items of about SEK 40m. The result from property
management activities is thereby the strongest since operations were
concentrated to Stockholm,” Christian Hermelin, Fabege's CEO, says.

“Low vacancies, stable revenues and a strong cost focus have boosted earnings
from property management activities. The economic downturn is becoming more
apparent but with interest rates moving in a direction that is favourable for
Fabege, good access to capital and a portfolio of well located and attractive
properties, I feel confident about the rest of 2009,” Christian Hermelin adds.

Fabege AB (publ)

Enclosed: Interim Report January-March 2009

For further information, please contact:
Christian Hermelin, CEO, phone +46 (0)8-555 148 25, +46 (0)733-87 18 25
Åsa Bergström, CFO, phone +46 (0)8-555 148 29, +46 (0)70-666 13 80
Mats Berg, Director of Communications and Investor Relations, phone +46 (0)8-555
148 20, +46 (0)733-87 18 20

Fabege AB (publ) discloses the information in this press release according to
the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. The
information was submitted for publication at 08:30 on 28 April 2009.