STOCKHOLM, Sweden, Nov. 25, 2003 (PRIMEZONE) -- Following the Annual General Meeting, Skandia's Board decided on May 6, 2003 to commission Attorney Otto Rydbeck and Authorized Public Accountant Goran Tidstrom to investigate certain areas of Skandia's operations. The assignment was to include transactions between Skandia and Skandia Liv, the principles of the embedded value method and the processes related to compensation and incentive programs.
Skandia's Board thereafter assigned an additional task to the investigative panel. The investigation was to examine whether legal or other action should be taken in regard to the costs for renovations of residential apartments.
The special investigative panel's report has now been released to Skandia. The report will be taken up for consideration by Skandia's Board, which will also take a position on any conclusions or measures with respect to the report.
Skandia's Board previously announced the report would be made public. This will take place at a special press symposium, with both of the investigators' present, on Monday, 1 december at 13:00, at Skandia, Sveavagen 44.
The full report in Swedish, as well as summary in Swedish and English, will be available online at www.skandia.com and www.setterwalls.com beginning on 1 December at 11:00 o'clock.
Any decisions or conclusions reached by Skandia's Board with respect to the report will be made public after Skandia's Board has taken the matter into consideration on 2 December.
Neither the investigators nor the Skandia Board will be able to make any comments with respect to the report before these dates.
For questions, contact:
Gunilla Svensson, Press Manager + 46-8-788 42 97
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The following files are available for download:
http://www.waymaker.net/bitonline/2003/11/25/20031125BIT00800/wkr0001.doc
http://www.waymaker.net/bitonline/2003/11/25/20031125BIT00800/wkr0002.pdf