Skandia Financial Effects 2004

Stockholm, SWEDEN


STOCKHOLM, Sweden, Feb. 16, 2005 (PRIMEZONE) -- Skandia's result is affected by external factors such as changes in the stock market and interest rates. Future revenues, which are based on fund values, increase or decrease as a result of these factors.

According to information presented in conjunction with the interim report for the third quarter of 2004, a 1% increase in the stock market would have a one-time effect on the operating result of SEK +84 million and a 1% decrease would have a one-time effect on the operating result of SEK -96 million.

Through the third quarter of 2004, financial effects were positive in the amount of SEK 185 million. Financial effects for the fourth quarter are expected to be positive and are estimated to be in the range of SEK 450 million to SEK 550 million.

Discontinued operations

To facilitate comparisons, figures in the group overview, as earlier in the year, will be reported excluding discontinued operations. This means that the capital gain from the sale of the Japanese operation is not included in the operating result.

Comparison figures

Starting with the reporting for the first quarter of 2004, all tables with a geographic breakdown have been adapted to the new organisational structure that was presented in a press release on 16 April 2004. The appended tables on pages 2 and 3 of this release show the comparison figures according to the new breakdown.

Skandia's year-end report for 2004 will be released on 28 February 2005.

For further information, please contact: Harry Vos, Head of Investor Relations, tel. +46-8-788 3643

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