Skandia completes the sale of its Italian non-life operations

Skandia completes the sale of its Italian non-life operations The sale of Skandia's two Italian non-life insurance companies Multiass Assicurazioni S.p.A. and Uniass Assicurazioni S.p.A to Istituto Nazionale delle Assicurazioni S.p.A. (INA) has been completed today following approvals from the relevant authorities. Completion of the sale has no effect on the result and is covered by previously established reserves. The sale includes no warranties in respect of the technical reserves in the two companies. The sale finalises Skandia's reconstructionprogramme launched in 1996. For further information, please contact: Ulf Spång, Executive Vice President and Chief Financial Officer, tel. +46-8-788 29 05 or Katarina Mohlin, Head of Corporate Communications, tel. +46-8-788 48 86