Financial effects through March 2004

Financial effects through March 2004 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. According to information presented in conjunction with the year-end report for 2003, a 1% increase in the stock market would have a one- time effect on the operating result of SEK +82 million and a 1% decrease would have a one-time effect on the operating result of SEK -87 million. Financial effects for the first quarter 2004 are expected to be positive and are estimated to be in the range of SEK 400 million to SEK 500 million. Discontinued operations To facilitate comparisons, figures in the group overview will be reported excluding discontinued operations. This means that the capital gain from the sale of the Japanese operation is not included in the operating result. Comparison figures In connection with the reporting for the first quarter of 2004, all tables with a geographic breakdown will be adapted to the new organizational structure that was presented in a press release on 16 April 2004. The appended tables on pages 2 and 3 of this release show the comparison figures according to the new breakdown. Skandia's interim report for the first quarter of 2004 will be released on 26 May 2004. For further information, please contact: Harry Vos, Head of Investor Relations, tel. +46-8-788 3643 [REMOVED GRAPHIC] ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/05/18/20040518BIT00210/wkr0001.doc The full pressrelease http://www.waymaker.net/bitonline/2004/05/18/20040518BIT00210/wkr0002.pdf The full pressrelease