Skandia Liv's action plan

    Skandia Liv's action plan

Following a review of the investigative reports commissioned by Skandia
Liv and Skandia Insurance Company Ltd, Skandia Liv has adopted an action
plan with the support of a legal study performed by former Supreme Court
Justice Hans Danelius and Professor Emeritus Jan Ramberg.

A list has been prepared with concrete measures that are warranted by
these investigations of various transactions. On some points, measures
have already been carried out.
An initiative is being taken on negotiations with Den norske Bank (DnB).

The purpose of this work is to create a framework which will prevent
events of the past from happening again.

This work is based on two fundamental conditions:
*    The assets managed by Skandia Liv are managed on behalf of Skandia
     Liv's policyholders.
*    Skandia Liv's board and management shall act independently and
     safeguard the policyholders' interests vis-a-vis the parent company.

Through various means, independent stance, integrity and openness will
be ensured. In the future Skandia Liv will have
*    a greater focus on asset management;
*    a greater focus on the occupational pensions segment;
*    broader transfer rights (transfer rights already exist for private
     pension insurance plans, while transfer rights for occupational pensions
     are being investigated with the aim of introducing them in 2005);
*    a better dialogue with our insurance savers.

Skandia Liv's management will have no bonuses in the future (however,
bonus programmes with a cap can be established for specially defined
initiatives further down in the organization).

For further information, please contact:
Urban Backstrom, CEO Skandia Liv, tel. [phone]
Gunilla Svensson, Press Manager, tel [phone], or + 46-70-575 75 78