Press Release 5 November 2007

A brochure regarding the redemption of shares of Kungsleden AB (publ) (”Kungsleden”) and the Board of Directors’ complete proposal to the Extraordinary General Meeting (EGM) on 19 November 2007 will be available from Kungsleden, Medborgarplatsen 25, 107 25 Stockholm, Sweden (tel. +46 (0)8 503 05200) and on Kungsleden’s Website, www.kungsleden.se, from 5 November 2007 onwards.

Distribution of the brochure will begin on or around 5 November 2007 to all shareholders whose address is known, subject to the limitations stated in this press release. The Board of Directors’ complete proposal will be sent to those shareholders that so request and state their postal address.

Proposed redemption process in brief

 Subject to a resolution by the EGM on 19 November 2007, each Kungsleden share will be split into two (share split), of which one will be termed a redemption share in the Swedish Central Securities Depository & Clearing Organisation (VPC) system.
 The redemption share will then be redeemed automatically against a cash redemption payment of SEK 11.50.
 The redemption process is automatic; no action is required by shareholders.
 The record day for the share split and right to redemption shares is scheduled for 28 November 2007, provided that the Swedish Companies Registration Office has registered the EGM resolution on the share split prior to this.
 The final day of trading in Kungsleden shares cum rights to redemption shares will be 23 November 2007.
 Trading in redemption shares will be conducted between 29 November and 12 December 2007.
 Disbursement of the redemption proceeds is scheduled for 20 December 2007 at the earliest.

Regulatory