Comment from Skandia

Old Mutual today announced that acceptances have been received for 62.5% of Skandia's shares through its offer. The acceptance period has been extended until 12 January 2006. Skandia's board intends to issue a statement tomorrow in view of this announcement. For questions: Gunilla Svensson, Press Manager, Skandia, tel. +46-8-788 25 00 Corporate Communications S-103 50 Stockholm, Sweden Telephone +46-8-788 10 00 Telefax +46-8-788 23 80 Www.skandia.com Office: Sveavägen 44