Changed composition of Skandia's Nominating Committee

As a result of Old Mutual's offer for Skandia now being declared unconditional, the composition of Skandia's Nominating Committee has changed. Paolo Pellegrini (Paulson & Co.), Lars Förberg (Cevian Capital) and Per Granström (Fidelity Investments International) have resigned from the Committee. The new members are Hasan Askari (Old Mutual) and Ossian Ekdahl (First Swedish National Insurance Pension Fund). Hasan Askari has been appointed Chairman of the Committee. Carl Rosén (Second and Fourth Swedish National Pension Funds) and Sten Trolle (Swedish Shareholders' Association), who are existing members of the Committee, will continue to serve as members. One seat on the Committee is vacant for the time being. Skandia's chairman, Lennart Jeansson, is a co-opted member of the Committee. The Nominating Committee's recommendation for directors on Skandia's board ahead of the Extraordinary General Meeting on 21 February 2006 will be announced by a press release as soon as the recommendation is finalised.