Resignation of auditor for Skandia Insurance Company Ltd

    Resignation of auditor for Skandia Insurance Company Ltd

As previously announced in the press release on 1 December 2003
Skandia's Board has decided to summon an extraordinary general meeting
on 28 January 2004. This will give Skandia's owners an opportunity to
appoint the board they feel is best-suited for the continued work moving
forward.

Skandia has been informed by one of the company's regular auditors,
Authorized Public Accountant Jan Birgerson, Ernst & Young, that he
wishes to leave his assignment in connection with the extraordinary
general meeting. As his reason for leaving, Jan Birgerson explains that
if he remains as auditor until the annual general meeting in April 2004,
there is a risk that his objectivity may be questioned against the
background of the criticism presented in the special investigation
report about Skandia. Ernst & Young has recommended that Bertel Enlund
assume the duties as head auditor of the remaining, intact auditing
team.

In light of this announcement, Skandia's Nominating Committee has
decided to recommend that Authorized Public Account Bertel Enlund be
elected as regular auditor until the annual general meeting 2004.

For information, please contact:
Gunilla Svensson, Press Manager, Tel [phone]