Board of Skandia comments on Old Mutual's statement

In relation to the statement made by Old Mutual today concerning a possible offer for Skandia, the Board of Skandia makes the following comments. Discussions with Old Mutual are continuing. If and when a formal offer is presented, the Board will evaluate this offer. A further announcement will be made when necessary. For further information, please contact: Bernt Magnusson, Chairman of the Board, tel. +46-8-788 25 00 Gunilla Svensson, Press Manager, tel. +46-8-788 42 97