Carl-Olof By leave Skandias Nominating Committé

Carl-Olof By today informed the chairman of Skandia's Nominating Committee, Björn Wahlroos, that he is no longer at the service as a member of Skandia's Nominating Committee. "In connection with the fact that the proposal to Skandia's board has now been submitted to the Extraordinary General Meeting, I feel my assignment has been completed," says Carl-Olof By in a comment. "In view of the special situation that arose in connection with the sale by Industrivärden in December 2003 of its entire holding in Skandia, I also feel it is important in conclusion to summarize the grounds for my assignment." *At Skandia's Annual General Meeting in April 2003 it was resolved that Skandia's Nominating Committee would be composed of representatives of the four largest shareholders as at the end of the third quarter. Industrivärden, which at this point in time was one of the largest owners, appointed Carl-Olof By as its representative. *In connection with the sale by Industrivärden in December 2003 of its shareholding in Skandia, Industrivärden's CEO, Anders Nyrén, informed the representatives of Skandia's largest owners that Industrivärden felt it was natural for Carl-Olof By to leave Skandia's Nominating Committee since Industrivärden had sold its shareholding. *As a consequence of the above, Carl-Olof By then made his seat on the Nominating Committee available and deferred to the other members to decide whether he should stay on or not. The Committee was unanimous in its preference that he remain on the Committee, which was also recorded in the minutes of the Nominating Committee. Stockholm, January 27, 2004 AB INDUSTRIVÄRDEN (publ) For further information, please contact: Anders Nyrén, President and CEO, Industrivärden, phone +46-8-666 64 00 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/01/27/20040127BIT00730/wkr0001.doc http://www.waymaker.net/bitonline/2004/01/27/20040127BIT00730/wkr0002.pdf