Skandia's Nominating Committee

Recommendations of Skandia's Nominating Committee Skandia's Nominating Committee recommends that Bengt Braun and Lars-Eric Petersson be re-elected as directors for new two-year terms at the 1999 Annual General Meeting. In addition, the Committee recommends that the number of directors elected by the Annual General Meeting be reduced from seven to five. It is proposed that the Articles of Association be amended accordingly. As policyholders' representatives on Skandia's board, the Stockholm Chamber of Commerce and the Swedish Consumer Agency have appointed Melker Schörling (new election) and Boel Flodgren (re-election), respectively. At the 1999 Annual General Meeting, Sven Söderberg, Kurth Augustson and Lennart Hagelin will be resigning. If the Annual General Meeting votes in accordance with the recommendations of the Nominating Committee, Skandia's board of directors will be made up of the following members: Lars Ramqvist, Bengt Braun, Pirkko Alitalo, Boel Flodgren, Johan Fr. Odfjell, Lars-Eric Petersson, and Melker Schörling, plus the two employee representatives. Skandia's Nominating Committee has six members. The chairman is the chairman of the board of Skandia. Of the other members, three represent the major shareholders (AMF-Pension, Industrivärden and Pohjola), one the minor shareholders (the chairman of Skandia's Shareholders Association), and one the policyholders of Swedish Skandia Life (appointed by the Stockholm Chamber of Commerce). The Nominating Committee's recommendation has the support of shareholders representing slightly more than 20 per cent of the shares in Skandia. For further information, please call: Sven Söderberg, Consul General, Chairman of the Nominating Committee, tel. +46-8-700 17 42 Jan-Mikael Bexhed, General Counsel, Secretary of the Nominating Committee, tel. +46-8-788 37 22 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/26/19990226BIT00240/bit0001.doc http://www.bit.se/bitonline/1999/02/26/19990226BIT00240/bit0002.pdf