Foreign directors on Skandia's board

Foreign directors on Skandia's board Skandia's Nominating Committee recommends the election of three new directors to Skandia's board: Oonagh McDonald, Clas Reuterskiöld and Günter Rexrodt. The Committee also recommends that Skandia's CEO, Lars- Eric Petersson, be re-elected as a director. Oonagh McDonald, Ph.D., lives in London and is a former academic, has had extensive experience in the financial services sector and in financial regulation. She is also a former Member of Parliament and front bench spokesman of Treasury matters and a former director of the Financial Services Authority. Oonagh McDonald is currently a management consultant and board member of numerous professional organizations. Clas Reuterskiöld, is director of several major Swedish listed companies and currently retiring from his position as President and CEO of the Swedish Investment Company Industrivärden. Günter Rexrodt, D.Econ., lives in Berlin. He is a member of the German Bundestag and a former Minister of Economics in Germany. He has also worked for the German Chamber of Commerce, Citibank and Treuhandanstalt. Günter Rexrodt serves as a director on the boards of various German companies. In connection with the 2001 Annual General Meeting, Johan Fr. Odfjell is leaving the Board in view of the fact that he has been appointed Chairman of the Nordic property & casualty insurance company If. Bengt Braun is also resigning from the Board after having served several terms. As policyholder representatives on Skandia's board, the Swedish Consumer Agency and the Stockholm Chamber of Commerce have appointed Boel Flodgren (re-election) and Melker Schörling (re-election), respectively. If the Annual General Meeting votes in favour of the recommendations of the Nominating Committee, Skandia's board of directors will have the following composition: Lars Ramqvist, Boel Flodgren, Eero Heliövaara, Oonagh McDonald, Willem Mesdag, Lars-Eric Petersson, Clas Reuterskiöld, Günter Rexrodt, and Melker Schörling, plus two employee representatives. Skandia's Nominating Committee has six members: its chairman is the chairman of the board of Skandia. Of the other members, three represent the major shareholders (Pohjola, Industrivärden and AMF-Pension), one the minor shareholders (the chairman of Skandia's Shareholders' Association), and one the life assurance policyholders of Skandia Liv (appointed by the Stockholm Chamber of Commerce). The Nominating Committee's recommendation has the support of shareholders representing just under 20 per cent of the shares in Skandia. For further information, please contact: Jan-Mikael Bexhed, General Counsel of Skandia and secretary to the Nominating Committee, tel. +46-8-788 3722 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/02/26/20010226BIT00180/bit0001.doc http://www.bit.se/bitonline/2001/02/26/20010226BIT00180/bit0001.pdf