Press release from the Board of Directors of Skandia

Press release from the Board of Directors of Skandia At a meeting on Monday, Skandia's board of directors received preliminary information from the special investigative panel that is being headed by Attorney Otto Rydbeck and Authorized Public Accountant Göran Tidström. The information, which pertains to costs for residential apartments, gives the Board reason to consider legal action by Skandia against a limited number of former senior executives. None of these persons are working for Skandia any longer. The Board also decided to take action to secure payment. The Board has decided to commission Otto Rydbeck with the task of looking into which legal and other action should be taken. Bengt Braun, Chairman of the Board, comments: - The information we have received is serious. However, it should be stressed that the information at hand does not have any financial impact on Skandia's position or on Skandia's or Skandia Liv's customers. As previously announced, the special investigative panel's report will be made public once it has been completed. A press conference with Skandia's chairman, Bengt Braun, and Attorney Otto Rydbeck will be held at 9 a.m. at Skandia, Sveavägen 44, Stockholm. For further information, please contact: Gunilla Svensson, Press Secretary, tel.+46-8-788 42 97 Bengt Braun, Chairman of the Board, tel. +46-788 25 00 Odd Eiken, Executive Vice President, Communication and Strategy, tel. +46-8-788 25 00 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/10/07/20031007BIT00030/wkr0001.doc http://www.waymaker.net/bitonline/2003/10/07/20031007BIT00030/wkr0002.pdf