Sales in February
Skandia's sales in February Sales in February 2000 reached a record SEK 18.7 billion. Combined sales during the first two months of the year were thus SEK 35.5 billion, compared with sales of SEK 27.3 billion for the first quarter of 1999 and SEK 133.9 billion for the full-year 1999. SALOMON SMITH BARNEY AND SKANDIA SIGN A SALES AGREEMENT American Skandia has signed a sales agreement with Salomon Smith Barney, on distribution of American Skandia mutual funds. Although not initially a preferred status partner American Skandia Advisor Funds are now available to the world's second largest retail brokerage house. Salomon Smith Barney has a global sales force of 10,900 financial advisors at 500 offices around the world, and a client base of 6.2 billion accounts with total assets of USD 816 billion. Introduced in 1997, American Skandia's Advisor Funds are the fastest- growing funds in the history of the US mutual funds industry, according to data provided by Financial Research Corporation. American Skandia attributes the funds' appeal to its innovative multi-manager strategy. The 18 retail mutual funds now have total assets of more than USD 5 billion. Lars-Eric Petersson, President and CEO of Skandia, comments: "The accelerating sales growth for variable annuities and other savings products can be credited to the design and packaging of our broadened product offering, combined with increased distribution capacity. The cooperation agreement with Salomon Smith Barney ensures that we will now gain additional distribution and should be seen as a sign of strength for Skandia." For further information, please contact: Harry Vos, Head of Investor Relations, tel. +46-70-605 6773 Birgitta Hammarström, +46-70-378 27 55 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/08/20000308BIT00380/bit0001.doc http://www.bit.se/bitonline/2000/03/08/20000308BIT00380/bit0002.pdf