Skandia Named One of Europe's Best Employers

Stockholm, SWEDEN

STOCKHOLM, Sweden, Jan. 24, 2002 (PRIMEZONE) -- Skandia has been named as one of the ten "greatest workplaces in Europe" by America's Fortune magazine. Fortune has been publishing yearly lists of America's 100 top employers for the last twenty years, but this year is the first time the magazine has ranked employers in Europe.

The initial field of candidates was nominated from a survey of journalists, securities analysts, business school professors, consultants and university students. After narrowing down this field to 75 finalists, Fortune's panel visited several of the candidate companies. Employees were interviewed in connection with the visits, and finally, the Top Ten list was decided on, giving Fortune "the Best Companies to Work for - 10 Great Companies in Europe." Skandia was the only Swedish company to win this distinction.

The criteria for nomination included using technology and coming up with creative ways of keeping employees satisfied and promoting career development. Skandia was named particularly for its ability to create a corporate culture that encourages employees to innovate and take individual responsibility, and for its tool for developing employees' intellectual capital and aligning their personal goals with the company's goals.

"We are very happy to have received this distinction and acknowledgement," says Lars-Eric Petersson, President and CEO of Skandia. "A corporate culture in which individuals are given the opportunity to develop, be stimulated by their work, and take initiative is a solid foundation for good long-term growth. This distinction is proof that we at Skandia are on the right course."

Fortune magazine's "Best Companies to Work For - 10 Great Companies in Europe" are: ING Group, L'Oreal, Morgan Stanley, Nokia, Novo Nordiska, Porsche, Pret A Manger, San Raffaele, Skandia and ST Microelectronics.

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