Castellum — Earnings Release 2010

Jul 13, 2010

PRESS RELEASE 9/2010

Gothenburg, July 13, 2010

Continued improvements on the rental and property markets and stable earnings

• Rental income for the period January June 2010 amounted to SEKm 1,367 (SEKm 1,346 corresponding period previous year).
• Income from property management amounted to SEKm 537 (557), equivalent to SEK 3.27 (3.40) per share, a decrease of 4%.
• The changes in value on properties amounted to SEKm 366 (–814) and on interest rate derivatives to SEKm –89 (68).
• Net income after tax for the period amounted to SEKm 603 (–133), equivalent to SEK 3.68 (–0.81) per share.
• The investments amounted to SEKm 456 (566) of which SEKm 373 (566) were new constructions, extensions and reconstructions.

Income from property management for the period, i.e. net income excluding changes in value and tax, amounted to SEKm 537 (557), equivalent to SEK 3.27 (3.40) per share. The decrease amounted to 4% and is above all an effect of higher costs for snow removal and heating during the first quarter. The income from property management during the second quarter isolated improved by 3%. The improved demand and the increasing transaction volume resulted in slightly lower required yields. Castellum has therefore made an upward adjustment of the property values with approx. SEKm 360, corresponding to approx 1%.

The net leasing during the period amounted to SEKm 11 (–27). Investments during the period amounted to SEKm 456 (566), of which SEKm 83 (0), were acquisitions and SEKm 373 (566) new construction, extensions and reconstruction.

"Both the rental market and the property market follow the development in the Swedish economy. The demand for premises is still on good levels while notices of termination and bankruptcies gradually decrease. The property market shows signs of recover, with slightly increasing property prices as a result" comments CEO Håkan Hellström.

Enclosure: Half-year Report January – June 2010

Castellum is one of the major listed real estate companies in Sweden. The fair value of the real estate portfolio amounts to approx. SEK 30 billion, and comprises premises for office, retail, warehouse and industrial purposes. The real estate portfolio is owned and managed by six wholly owned subsidiaries with strong local roots in five growth regions: Greater Gothenburg, the Öresund Region, Greater Stockholm, Mälardalen and Eastern Götaland.

Castellum is listed on NASDAQ OMX Stockholm AB Large Cap.

For further information, please contact

Håkan Hellström, CEO, phone +46 31 60 74 00 / mobile +46 705-60 74 56 Ulrika Danielsson, Finance Director, phone +46 31 60 74 00 / mobile + 46 706-47 12 61

or visit www.castellum.se

Castellum AB (publ) discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.