Old Mutuals bud på Skandia: Acceptanser bekräftade för 62,5 procent av aktierna i Skandia

Detta meddelande och dess innehåll är begränsat och inte avsett för offentliggörande, publicering eller spridning, i sin helhet eller i delar, i USA, Kanada, Australien eller Japan. Old Mutual plc (‘Old Mutual’) har glädjen att meddela att acceptanser har bekräftats för 62,5 procent av det totala antalet aktier och röster (efter full utspädning) i Försäkringsaktiebolaget Skandia (publ) (‘Skandia’). Bekräftelse pågår för ytterligare acceptanser. Offentliggörande om detta sker onsdagen den 21 december 2005. De val som gjorts i enlighet med matchningsmöjligheten kommer att offentliggöras samtidigt. Vidare har erbjudandet till aktieägarna i Skandia förlängts och är öppet för acceptanser till och med den 12 januari 2006. Matchningsmöjligheten, inklusive kontantgarantin för innehav av högst 1000 aktier i Skandia, är inte tillgänglig under den förlängda erbjudandetiden. Jim Sutcliffe, Old Mutuals koncernchef, säger i en kommentar: "Det gläder mig att ägarna till majoriteten av aktierna i Skandia har sett den stora potentialen i att de båda företagen går samman. Jag ser också fram mot att hälsa alla anställda i Skandia runt om i världen välkomna i Old Mutual-familjen. Tillsammans kan vi erbjuda alla våra kunder den bästa kapitalförvaltningen och de bästa pensionslösningarna i världen. Och våra agenter erbjuds ett ännu större utbud att välja ur. Vi kommer från vår sida att göra allt som står i vår makt för att säkerställa att det här spännande samgåendet ger utmärkta resultat för både kunder och aktieägare.” Tillståndsprocesserna hos myndigheter fortgår enligt plan. Erbjudandet kommer att förklaras ovillkorat så snart som möjligt efter att alla tillstånd har erhållits, och redovisning av vederlag beräknas ske i januari 2006. Villkoren för erbjudandet fortsätter att gälla under den förlängda erbjudandetiden i den mån de inte redan uppfyllts eller frånfallits. Om samtliga villkor uppfylles eller vid utgången av erbjudandetiden frånfalles, förbehåller sig Old Mutual rätten att vid sådan tidpunkt förklara att erbjudandet är ovillkorat, att stänga rätten att återkalla accepter och/eller att inte förlänga erbjudandetiden ytterligare. När erbjudandetiden vid någon tidpunkt avslutas, kommer aktieägarna inte längre kunna anmäla sina Skandiaaktier. Old Mutual förbehåller sig rätten att kunna förlänga erbjudandet efter den 12 januari 2006. 20 december 2005 FRÅGOR: Old Mutual plc Malcolm Bell – investerare +44 (0) 20 7002 7166 Miranda Bellord – brittiska media +44 (0) 20 7002 7133 Brunswick Anders Fogel – svenska media 0709-62 78 42 För ytterligare information om Old Mutual se www.oldmutual.se eller www.oldmutual.com Deutsche Bank AG London 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.