Press release from Skandia’s nominating committee

Nominating Committee’s proposal for election of directors by Skandia’s Annual General Meeting on 14 April 2005

Skandia’s nominating committee proposes that Lennart Jeansson, Birgitta Johansson-Hedberg, Kajsa Lindståhl and Anders Ullberg be re-elected and that Christer Gardell be newly elected to Skandia’s board. Pursuant to a resolution by the 2004 Annual General Meeting, the mandate period is one year. At the 2004 Annual General Meeting, Björn Björnsson, Karl-Olof Hammarkvist and Bernt Magnusson were elected for a two-year period, i.e., until the 2006 Annual General Meeting. The Nominating Committee proposes no change in this respect. This means that, provided the Annual General Meeting votes in favour of the committee’s proposal, Skandia’s board will have the following composition until the 2006 Annual General Meeting: Björn Björnsson, Christer Gardell, Karl-Olof Hammarkvist, Lennart Jeansson, Birgitta Johansson-Hedberg, Kajsa Lindståhl, Bernt Magnusson and Anders Ullberg. Consequently this entails that the Board will be increased by one member. In addition, as usual the Board will also include three employee representatives. The Nominating Committee proposes that Bernt Magnusson remain as Chairman of the Board and that Björn Björnsson remain as Vice Chairman. The committee’s proposal has the support of shareholders representing approximately 25% of the shares and votes in Skandia. The Nominating Committee’s other proposals – for election of a chairman to preside over the Annual General Meeting, directors’ fees, election of auditors and auditors’ fees – will be announced in connection with the notice of the Annual General Meeting. Ahead of the 2005 Annual General Meeting the Nominating Committee has consisted of Björn Lind, chairman, (SEB Fonder), Lars Idermark (Second National Swedish Pension Fund), KG Lindvall (Robur Fonder), Olof Neiglick (Nordea Fonder) and Per Löfqvist (Skandia Shareholders’ Association). Christer Gardell (Cevian Capital), Bernt Magnusson and Björn Björnsson have been co-opted members of the committee. Contact person: Björn Lind, tel. +46-8-763 50 00 or +46-70-557 28 66