November sales SEK 7.4 billion (6.0) 1)

In view of the flood of information during the preceding week and
speculation in connection with this on the business trend, Skandia is
releasing information on sales for the month of November. Skandia does
not intend to continue reporting monthly sales figures in the future.

Sales in November
Sales increased to SEK 7.4 billion (6.0), which is the highest level of
monthly sales during the year. This corresponds to an increase of 24% in
Swedish kronor and 30% in local currency. Sales in October 2003 were SEK
6.9 billion, while the corresponding figure for September was SEK 6.9
billion. Sales were favourable in the UK. Sales in Sweden were slightly
lower compared with a year ago, but have successively increased month by
month since August of this year.

Unit linked assurance
Sales of unit linked assurance in local currency rose 26% to SEK 5.2
billion (4.4). New sales of unit linked assurance rose 7%.

Sales through November
Sales amounted to SEK 70.3 billion (69.0), rising 9% in local currency.
Of total sales, unit linked assurance accounted for SEK 50.1 billion
(49.5), mutual fund savings products for SEK 16.3 billion (15.5), and
direct sales of funds for SEK 2.5 billion (2.2).

Sales in the UK amounted to SEK 34.0 billion (36.7). In Sweden sales
amounted to SEK 11.1 billion (11.4). Sales in other markets increased to
SEK 25.2 billion (20.9).

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

Definitions of sales

Sales
Sales pertain to paid-in premiums and deposits in funds from Skandia's
customers.

New sales
New sales pertain to single and regular premiums from unit linked
contracts entered into in 2003, recalculated to full-year figures.
According to industry practice, new sales are defined as regular
premiums recalculated to full-year figures plus 1/10 of single premiums
during the period.

1) All comparison figures pertain to the corresponding period a year
earlier, unless otherwise indicated.