Board of Skandia Comments on Old Mutual's Statement

Stockholm, SWEDEN

STOCKHOLM, Sweden, Aug. 29, 2005 (PRIMEZONE) -- In relation to the statement made by Old Mutual today concerning a possible offer for Skandia, the Board of Skandia makes the following comments.

Discussions with Old Mutual are continuing. If and when a formal offer is presented, the Board will evaluate this offer. A further announcement will be made when necessary.

For further information, please contact:

 Bernt Magnusson, Chairman of the Board, tel. +46-8-788 25 00 
 Gunilla Svensson, Press Manager, tel. +46-8-788 42 97

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