Ulf Asp, IFBWW General Secretary stated that employers such as Skanska have a significant influence in shaping labour policy and practices; this influence has increased dramatically as a result of globalisation. Against this background, the IFBWW welcomes the agreement with Skanska because it will contribute definitely to improve working and living conditions of thousands of building workers. IFBWW signed similar workers rights agreements with IKEA (furniture), Faber-Castell (pencils) and Hochtief (construction). "The IFBWW places a high priority on developing constructive social dialogue and the basis for sound industrial relations and the sustainable development of our industries", said the IFBWW General Secretary.

Claes Bjork, CEO Skanska, said, "This agreement concerns important issues that Skanska obviously shall live up to. This agreement has an impact on 80,000 employees worldwide and of course that will also raise the standards of thousands of subcontractors. It feels good, that we reached this agreement with the IFBWW. It forms a very important part of the ongoing work within the company on Corporate Social Responsibility."

Skanska is one of the world's leading companies in building-related services and project development. Skanska's activity is intended to provide for people's needs for homes, working environment and communications possibilities. Since starting in 1887, Skanska has built up a global network with operations in some 60 countries.

IFBWW is an International Trade Secretariat that organises workers in the building, woodworking, forestry, and allied industries. IFBWW's primary task is to promote and protect workers' rights in the aforementioned industries. IFBWW currently groups 284 trade unions with over 11 million members in 124 countries.

AGREEMENT BETWEEN SKANSKA AND THE INTERNATIONAL FEDERATION OF BUILDING AND WOODWORKERS (IFBWW)

The International Federation of Building and Wood Workers (IFBWW) is an International Trade Secretariat that supports the organization of workers in the construction, building, wood and forestry sectors and other closely allied industries. IFBWW's primary goal is to promote and defend workers' rights in the aforementioned industrial sectors.

Skanska is one of the world's leading companies in construction-related services and project development. Skanska's business activities are designed to meet the needs of people in terms of housing, work environment and communications. Since it was founded in 1887, Skanska has developed a global network comprising business activities in more than 60 countries worldwide.

Employment conditions offered to the employees of Skanska shall meet the minimum requirements of national legislation. Relevant ILO (International Labor Organization) conventions and recommendations concerning the company's business activities shall be respected.

The regulations enclosed herewith as Enclosure I apply to all units and subsidiaries of the Skanska Group. Skanska and IFBWW consider it important that the contents of this agreement be announced at the company's work sites in the respective languages of the different work sites. Suppliers should also be informed of the agreement.

Reports on compliance with this agreement and eventual infractions, which could not be resolved through discussions in the workplace, will be addressed by an application group comprising Skanska's Human Resources Director (Senior Vice¬President Human Resources), EWC Skanska's executive committee and IFBWW. The Senior Vice President Human Resources and executive committee will each appoint one representative to visit and inspect selected work sites at least once a year. IFBWW participates at its own expense in meetings of the application group and the aforementioned visits to work sites.

If a unit of Skanska does not comply with the regulations contained in Enclosure I, the application group will report such violations to the responsible member of the Group Management staff, who will ensure that relevant corrective measures are implemented.

If agreement regarding interpretations and applications of this agreement cannot be reached in the application group, the issue will be referred to an arbitration board comprising two members and an independent chairman. Skanska AB and the IFBWW will each appoint one member, and the chairman will be appointed through mutual agreement. Arbitration board rulings are binding for both parties. The original Swedish version of this agreement will apply in all parts to all interpretations of the agreement.

This agreement is effective from today's date, with a mutual three-month notice of termination.

Stockholm, 8 February 2001

SKANSKA AB (publ)

Claes Bjork

INTERNATIONAL FEDERATION OF BUILDING AND WOOD WORKERS, IFBWW

Ulf Asp

Enclosure I to agreement dated February 8, 2001 between Skanska and IFBWW

A.Employment is freely chosen (ILO conventions 29 and 105).

Forced labour, slave labour or other forms of involuntary labour may not be used at Skanska's work sites. Nor shall the employer or its representatives force workers to surrender their passports, money, identification papers or valuables with the intention of imposing employment under inhumane conditions controlled solely by the employer.

C.Child labour is not allowed (ILO conventions 138 and 182)

D.Right to organize (ILO conventions 87, 98 and 135, and recommendation 143)

Employee rights to form or join trade unions shall be recognized in accordance with each respective country's laws and principles. Trade union representatives of the employees may not be discriminated against and shall be provided access to work sites as required to fulfill duly and legally assigned obligations to their members. The employer and its representatives shall respect the trade union's activities.