Financial effects through March 2003

Financial effects through March 2003 Skandia's result is affected by external factors such as changes in the stock market and interest rates. Future revenues, which are based on fund values, increase or decrease as a result of these factors. When the value of funds decrease, the company's tax situation is also affected in certain cases. Altogether this entails a one-time effect on the operating result. During the first quarter of 2003 the aggregate negative financial effect on the operating result is estimated to be in the range of SEK 250 - 350 million. Comparison figures pertaining to American Skandia On 1 May 2003 it was announced that the agreement with Prudential Financial, Inc. (USA), under which Prudential Financial is acquiring American Skandia, has been completed. Since the transaction was completed in accordance with the agreed-upon terms, there is no result effect for the first quarter of 2003. To facilitate comparisons, the group overview for the first quarter (as in the 2002 Annual Report) will be presented excluding the USA, unless indicated otherwise. This format is shown in the appended table. Skandia's interim report for the first quarter of 2003 will be released on 21 May 2003. For further information, please contact: Harry Vos, Head of Investor Relations, tel +46 8 788 3643 Format for group overview in future interim reports GROUP OVERVIEW - QUARTERLY ANALYSIS 2002 2002 2002 2002 2002 SEK million 12 mos. Q 4 Q 3 Q 2 Q 1 Sales 1) Unit linked assurance 53,967 13,391 13,185 13,638 13,753 Mutual funds 16,963 3,750 4,147 5,220 3,846 Direct sales of funds 2,344 425 591 264 1,064 Life assurance 1,638 710 408 273 247 Other businesses 453 114 95 118 126 Total sales 75,365 18,390 18,426 19,513 19,036 Result summary Unit linked assurance (according to 3,027 795 724 733 775 the embedded value method) Mutual funds -291 -90 -56 -87 -58 Life assurance 119 5 35 20 59 Other businesses -182 -41 -85 -69 13 Group expenses -569 -179 -122 -159 -109 Result of operations 2,104 490 496 438 680 Financial effects, unit linked -2,267 -457 -898 -792 -120 assurance (according to the embedded value method) Items affecting comparability 1,566 -450 - 2,016 - Operating result 1,403 -417 -402 1,662 560 Other comparison figures Total annualized new sales, unit 9,176 2,318 2,064 2,361 2,433 linked assurance 2), SEK million Profit margin new sales, unit linked 13.5 13.4 14.9 12.9 13.1 assurance, % Profit and loss account (according to the Annual Accounts Act) Result after tax, including USA, SEK -4,298 -4,505 -1,451 1,498 160 million Result after tax, excluding USA, SEK 2,555 -101 615 1,745 296 million Earnings per share, including USA, -4.20 -4.40 -1.42 1.46 0.15 SEK Earnings per share, excluding USA, 2.50 -0.10 0.60 1.70 0.29 SEK 1) Sales pertain to paid-in premiums and deposits in funds. 2) Periodic premiums recalculated to full-year figures plus 1/10 of single premiums during the period. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/05/14/20030514BIT00630/wkr0001.doc http://www.waymaker.net/bitonline/2003/05/14/20030514BIT00630/wkr0002.pdf

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