SAS Group Completes Sale of Offices

29th Sep 2003

The SAS Group has in connection with the latest quarterly result
informed about a program of release of capital including office
The SAS Group has signed an agreement with the Danish company Keops to
sell five office properties in Copenhagen. The transaction will release
capital of approximately MSEK 1 000 and will reduce net debt by a
similar amount. The transaction will provide a gain on sales in excess
of MSEK 500. The SAS Group has also signed a lease agreement of between
10 an 15 years and will also in the future use the properties involved.
The costs for the leaseback are neutral compared with depreciations and
interest cost of today.
The transaction is also part of the SAS Group`s focus on core business
and enhances flexibility for the SAS Group`s future need for office
properties. The transaction is pending full completion of all conditions
in the agreement and relevant government approvals.



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