Urban Backstrom to leave post as CEO of Skandia Liv for position as Director General of the Confederation of Swedish Enterprise

Stockholm, SWEDEN

STOCKHOLM, Sweden, April 27, 2005 (PRIMEZONE) -- Skandia Liv's Chairman, Bo Eklof, comments: "I warmly congratulate Urban Backstrom on this new, exciting assignment that will entail a great deal of responsibility. On behalf of Skandia Liv, naturally I regret that he is leaving. However, it is with much satisfaction to note that, under Urban Backstrom's leadership, Skandia Liv has regained both confidence and stability and is now well equipped to take on future challenges in the life assurance market. Similarly, considerable quality improvements have been made in several areas, not least in asset management.

"All in all, this will enable Urban Backstrom's successor to dedicate all of his or her energy on developing Skandia Liv's business."

The Board will immediately begin the process to recruit a new CEO.

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