Old Mutuals bud på Skandia - Ny acceptansnivå

Old Mutual plc (‘Old Mutual’) har glädjen att meddela att acceptanser avseende erbjudandet, mottagna per den 26 januari 2006, nu bekräftats för 743.555.248 aktier i Försäkringsaktiebolaget Skandia (publ) (‘Skandia’) motsvarande cirka 72,1 procent av det totala antalet aktier och röster (efter full utspädning). Såsom meddelades den 26 januari har erbjudandet avseende Skandia nu förklarats ovillkorat och slutligen förlängts till kontorstidens slut den 9 februari 2006. Redovisning av vederlag avseende giltiga acceptanser som mottagits kl. 15.00 svensk tid den 26 januari 2006 förväntas ske den 1 februari 2006 för de aktier som hanteras via CREST och 2 februari 2006 för de aktier som hanteras via VPC. Som en följd av att acceptanser återtagits efter det att Matchningsmöjligheten inte längre blev tillgänglig efter den 16 december 2005, bör aktieägare som valt fler aktier enligt Matchningsmöjligheten notera att en mindre justering gjorts i andelen aktier enligt detta alternativ. Närmare uppgifter om detta framgår av bilagan till detta meddelande 27 januari 2006 FRÅGOR: Old Mutual plc Malcolm Bell – investerare +44 20 7002 7166 Miranda Bellord – media +44 20 7002 7133 Deward Serfontein – investerare, Sydafrika +27 11 523 9616 Nad Pillay – media, Sydafrika +27 11 523 9612 Brunswick Anders Fogel – media, Sverige 0709-62 78 42 För ytterligare information om Old Mutual se www.oldmutual.se eller www.oldmutual.com Bilaga Matchningsmöjligheten Som meddelats den 21 december 2005 hade acceptanser motsvarande 612.586.435 Skandiaaktier lämnats enligt Matchningsmöjligheten. Detta alternativ har inte varit tillgängligt efter den 16 december 2005. Som tidigare meddelats var den exakta fördelningen av kontanter och aktier som kunde erhållas enligt Matchningsmöjligheten (annat än under kontantgarantin) beroende av antalet giltiga acceptanser, som inte dragits tillbaka innan erbjudandet blir eller förklaras ovillkorat. En slutlig uppgift skulle meddelas vid sådan tidpunkt. Som följd av detta kan Old Mutual idag meddela att de aktieägare som valde att lämna in mer än 39,3 procent av sina Skandiaaktier mot kontant vederlag enligt Matchningsmöjligheten kommer att få sina val tillgodosedda fullt ut. För de aktieägare som emellertid valde att lämna in mer än 60,7 procent av sina Skandiaaktier mot vederlag i form av aktier enligt Matchningsmöjligheten beräknas cirka 0,3 procent av de Skandiaaktier som lämnats in med sådant val att bytas gentemot ytterligare Old Mutual-aktier, utöver baserbjudandets proportioner. Ett exempel som illustrerar de slutgiltiga resultaten av Matchningsmöjligheten visas nedan. Exemplet gäller tre aktieägare som var och en innehar 100.000 Skandiaaktier. Val 1 Val 2 Val 3 - aktier - - aktier - - aktier - kontanter kontanter kontanter 100.000 0 80.000 20.000 0 100.000 Tilldelning Tilldelning Tilldelning - aktier - - aktier - - aktier - kontanter kontanter kontanter 60.818 39.182 60.758 39.242 0 100.000 Deutsche Bank, which is authorised by Bundesanstalt für Finanzdiensleistungsaufsicht (BaFin) and by the Financial Services Authority and is regulated by the Financial Services Authority for the conduct of UK business, is acting for Old Mutual plc and no one else in connection with the Transaction and will not regard any other person (whether or not a recipient of this announcement) as its client in relation to the Transaction and will not be responsible for providing the protections afforded to its clients nor for giving advice in relation to the Transaction or any transaction or arrangement referred to, or information contained in this announcement. Merrill Lynch International is acting for Old Mutual plc and no one else in connection with the Transaction and will not regard any other person (whether or not a recipient of this announcement) as its client in relation to the Transaction and will not be responsible for providing the protections afforded to its clients nor for giving advice in relation to the Transaction or any transaction or arrangement referred to, or information contained in this announcement. Lazard & Co., Limited is acting for Old Mutual plc and no one else in connection with the Transaction and will not regard any other person (whether or not a recipient of this announcement) as its client in relation to the Transaction and will not be responsible for providing the protections afforded to its clients nor for giving advice in relation to the Transaction or any transaction or arrangement referred to, or information contained in this announcement. The Offer, all acceptances and withdrawals thereof or pursuant thereto and all contracts made pursuant thereto and action taken or made or deemed to be taken or made under any of the foregoing shall be governed by and construed in accordance with Swedish law. The Offer is, subject to certain exceptions, not being made, directly or indirectly, in or into the United States, Canada, Australia, Japan or any other jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of the United States, Canada, Australia or Japan. Accordingly, copies of this announcement or any accompanying documents are not being, directly or indirectly, mailed or otherwise distributed, forwarded or transmitted in, into or from the United States. Any persons receiving such documents (including, without limitation, custodians, nominees and trustees) should observe these restrictions and should not, subject to certain exceptions, mail or otherwise distribute, forward or transmit them in, into or from the United States or any other jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or use such means, instrumentality or facility in connection with the Offer, and so doing may render invalid any related purported acceptance of the Offer. Any persons (including, without limitation, custodians, nominees and trustees) who would or otherwise intend to, or may have a contractual or other legal obligation to, forward this announcement or any accompanying documents to the United States should seek appropriate advice before taking any action. These materials are not for distribution, directly or indirectly, in or into the United States. They are not an offer of securities for sale into the United States. There will be no public offer of the Old Mutual Shares in the United States. The New Old Mutual Shares have not been, and will not be, registered under the US Securities Act of 1933 (the “Securities Act”) or with any securities regulatory authority of any state or other jurisdiction of the United States or under the applicable securities laws of Canada, Australia and Japan. Accordingly, subject to certain exceptions, the New Old Mutual Shares may not be offered or sold within the United States or Canada, Australia and Japan or any other jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or to or for the account or benefit of any person in the United States, Canada, Australia or Japan. This announcement includes forward-looking statements about Old Mutual, Skandia and the Enlarged Group. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Old Mutual cautions you that forward-looking statements are not guarantees of future performance and the Old Mutual Group's actual results of operations, financial condition and liquidity, and the development of the industry in which the Old Mutual Group operates may differ materially from those made in or suggested by the forward-looking statements contained in this document. Events that may cause actual results to differ from such forward-looking statements include, but are not limited to: fluctuations in the capital markets; fluctuations in interest rate and exchange rates; increased regulation or regulatory scrutiny; the occurrence of unforeseen disasters or catastrophes; political or economic instability in their principal markets; adverse outcomes in litigation; and failure to achieve the benefits of the proposed Transaction. These forward-looking statements speak only as at the date of this announcement. Except as required by the UK Listing Authority, the London Stock Exchange or applicable law, Old Mutual does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise. Except as required by the UK Listing Authority, the London Stock Exchange or applicable law, Old Mutual expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Old Mutual’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. In addition, even if the Old Mutual Group's results of operations, financial condition and liquidity, and the development of the industry in which the Old Mutual Group operates are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods. To the extent permissible under applicable law or regulation, and in accordance with normal Swedish market practice, Old Mutual or its brokers (acting as agents) may from time to time make certain purchases of, or arrangements to purchase, directly or indirectly, Skandia Shares or any securities that are immediately convertible into, exchangeable for, or exercisable for, Skandia Shares, other than pursuant to the Offer, before, during or after the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. Any information about such purchases will be disclosed as required by law or regulation in Sweden or other relevant jurisdictions.