To eliminate uncertainty in the market, Newco wants to make it clear that Newco is not participating in acquisition talk

Skandia and Storebrand's joint Nordic property & casualty insurance operation, currently under formation ("Newco"), announces the following: To eliminate uncertainty in the market, Newco wants to make it clear that Newco is not participating in acquisition talks concerning Trygg Hansa Försäkring AB. Newco has been working since 22 February on forming the leading Nordic property & casualty insurance company with operations in Denmark, Finland, Norway and Sweden. The intensive work on establishing Newco is proceeding according to plan. This will generate substantial synergies. For further information, please contact: Birgitta Hammarström, Press Officer, Skandia, tel. +46-8-788 2755 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/05/20/19990520BIT00060/bit0001.doc http://www.bit.se/bitonline/1999/05/20/19990520BIT00060/bit0002.pdf