STOCKHOLM, Sweden -- Skanska (STO:SKAB):

--Skanska will be the construction manager for a school project in Royal Oak, Michigan.

--The total value of the order is USD 69.5m, about SEK 540m, which is included in order bookings

--The customer is the School District in Southfield, a community in the Detroit area.

The project involves the renovation and expansion of a number of schools. In addition, a new 6,000-square-meter school will be constructed in Royal Oak.

Many of the district's schools will be expanded and renovated to create functional and modern school environments. This will involve replacing installations to improve air conditioning and communications and to reduce energy consumption.

Work begins this summer and is scheduled to be completed in autumn 2008. The schools will remain open during the project. However, disturbance will be minimized by intensifying the construction pace during vacation periods and after school hours.

Skanska USA Building Inc. is a leading provider of construction, pre-construction consulting, general contracting and design-build services in the US. The company also provides pharmaceutical validation services to clients. Customers represent a broad range of US industries including life sciences, healthcare, education, high-tech, aviation, transportation and sports and entertainment. The company is headquartered in Parsippany, New Jersey, and has approximately 4,000 employees. Annual sales in 2005 amounted to about SEK 30 billion.

This and previous releases can also be found at www.skanska.com

Skanska is one of the world's leading construction groups with expertise in construction, development of commercial and residential projects and public-private partnerships. The Group currently has 54,000 employees in selected home markets in Europe, in the US and Latin America. Sales in 2005 totaled USD 17 billion.

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