Skandia´s Mike Gordon retires

SKANDIA'S MIKE GORDON RETIRES · New roles for Simon Burgess and Steve Powell · New members to the board Skandia Group today announces that Mike Gordon, Group Sales Director, is taking early retirement in the New Year, after more than 10 years of service. Mike Gordon, 54, has been a director of various life companies since the age of 29. He is best known for pioneering offshore life business in the Isle of Man and was instrumental in developing Royal Skandia's business for several years. In 1993, he also assumed responsibility for Skandia Group's sales operation in the UK. Alan Wilson, Skandia's Managing Director, said: "We will all miss Mike's huge contribution to the Group. Growth for Skandia, both in the UK and abroad, has been impressive under Mike's leadership, with new premium income exceeding £3billion in 2000. The UK sales force has increased to almost 100 consultants and Royal Skandia is recognised as the leading offshore provider." Mike Gordon said: "I have enjoyed many happy and rewarding years with Skandia, helping drive the business forward and sharing in the success of one of the world's leading financial services companies." Simon Burgess and Steve Powell both become Director of Sales for their respective areas of responsibility from October 2001 and will report directly to Managing Director Alan Wilson. From October 2001, Simon Burgess, 40, will assume responsibility for international and offshore sales, as well as for the UK regions. He joined Skandia in 1991 and was promoted last year to Director of Sales for the nine UK regional offices. Simon will join the Board of Royal Skandia at the end of the year. Also from October 2001, Steve Powell, 52, will assume responsibility for business development opportunities, complementing his current role as Director of Sales for Networks and Nationals. Steve will join the Board of Skandia Life at the end of the year. He joined Skandia in 1993 to head up the National Accounts area. Wilson continued: "We are delighted that Simon Burgess and Steve Powell will take on key additional responsibilities in their new roles and we welcome them to the Board. Together with Mike, they have worked hard to drive UK and international business further forward still - and I have no doubts that they will continue to maintain Skandia's position as the leading UK and offshore financial services company." - ends - For further information, please contact: Jo Gilbey, PR and advertising Manager, Skandia - 02380 726 404 or jo.gilbey@skandia.co.uk Or Lansons Communications - Beverley Aujla - 020 7 294 3683 or beverleya@lansons.com; Arabella Bakker - 020 7 294 3629 or arabellab@lansons.com; Tamsin Martle - 020 7 294 3620 or tamsinm@lansons.com Background information UK Skandia Life Group · Parent company, Skandia Insurance Company Limited (Skandia), is Sweden's largest insurance group. Skandia is in the top 30 insurers in Europe and is the largest unit linked provider in the world*. · The UK Skandia Group provides life, pensions and investment products through Independent Financial Advisers in the UK and intermediaries in the EU and overseas market. · The Skandia Group is distinguished by its approach to investment, the key factor in delivering value for money to investors. The Group has recognised the advantages of outsourcing to fund managers who bring the rewards of an institutional approach to benefit investors. Through an extensive choice of fund managers and funds, the Group gives investors the freedom to create and manage portfolios, individually tailored to their changing needs. · Companies within the Skandia Group are: Skandia Life; Royal Skandia (based in the Isle of Man); Skandia MultiFUNDS Limited. · Sponsors of Skandia Life Cowes Week, the longest running and largest sailing regatta in the world. · Skandia Life is a member of the ABI. · Skandia Life, Royal Skandia and Skandia MultiFUNDS Limited are all regulated by the Personal Investment Authority. * Source Tillinghast Regulatory information Companies in the Skandia Group are: Skandia Life Assurance Company Ltd, Royal Skandia Life Assurance Ltd (based in the Isle of Man); and Skandia MultiFUNDS Limited. Skandia Life, Royal Skandia and Skandia MultiFUNDS Limited are all regulated by the Personal Investment Authority. Investors should be aware that the value of unit-linked contracts is not guaranteed as the price of units may fall as well as rise. Skandia Life is a member of the ABI. Skandia MultiFUNDS is a member of AUTIF. Royal Skandia is a member of the Association of International Life Offices. Issued by Skandia Life Assurance Company Limited and Skandia MultiFUNDS Limited - members of the Skandia Group of Companies Registered Numbers: 1363932 & 1680071 England. Registered Office: Skandia House, Portland Terrace, Southampton SO14 7EJ Skandia Group Web Site: http://www.skandia.co.uk Regulated by the Personal Investment Authority Royal Skandia Life Assurance Limited Registered Number: 24916 Isle of Man (incorporated company limited by shares) Registered and Head Office: Skandia House, Finch Road, Douglas, Isle of Man, IM99 1NU, British Isles Member of the Association of International Life Offices All companies regulated by the Personal Investment Authority The rules and regulations made by the Personal Investment Authority under the Financial Services Act 1986 for the protection of investors may not apply to persons outside the UK ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/24/20010924BIT01130/bit0001.doc http://www.waymaker.net/bitonline/2001/09/24/20010924BIT01130/bit0002.pdf