Lease agreement entered with the City of Copenhagen (DK)

Københavns Voksenuddannelsescenter (VUC) and Social- og Sundhedsskolen in Copenhagen (SOSU) centralize their teaching facilities in one centre situated in the characteristic property located between Gothersgade and Vognmagergade just opposite Kongens Have.

The lease, with effect as from March 1, 2005, relates to premises for teaching and administration purposes covering approximately 15,500 m2 as well as a basement area covering 3,500 m2.

It is expected that the lease will be transferred to the Danish Ministry of Education as per January 1, 2007 in connection with the structural reform.

During the coming 6 months or so the property will be converted and adapted to the new purpose.

This lease does not induce Sjælsø Gruppen to revise its economic expectations. Thus, the expected result before tax for 2005 remains approximately DKK 250 million.

Source: Sjælsø Gruppen

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