Changes in Skandia's Management Team

-- Julian Roberts, Chief Executive and interim head of the Europe & Latin America division

-- Jan Erik Back, Executive Vice President and Chief Financial Officer

-- Gavin Cookman, Director for Operational Change

-- Ian Cutler, Director of Human Resources

-- Gert Engman, Executive Vice President and head of the Nordic division

-- Helena Nelson, General Counsel and Secretary to the Board of Directors

-- Nick Poyntz-Wright, Executive Vice President and head of the UK & Offshore division

Tim Sheppard, director of the CEO Office, is co-opted to theExecutive Management Board.

Michael Wolf, Executive Vice President and head of the Europe &Latin America division and Jennifer Rhule, currently Director of HumanResources & Organisational Development, are both leaving theorganisation, Michael to further his career outside the group andJennifer to set up a charitable foundation dedicated to leadership andorganisational development. After 20 years of committed service to theSkandia group, Jan-Mikael Bexhed, Executive Vice President and GeneralCounsel, is stepping down from the Executive Management Board, butwill continue working with legal issues within the group on apart-time basis.

"I am pleased to welcome Gavin, Ian and Helena into the ExecutiveCommittee. All three have huge experience in their respective areasand I am convinced they will play a strong part in the development ofSkandia as part of the Old Mutual group. At the same time, it is sadto see both Michael and Jennifer leaving the group. Michael has builtup the Europe & Latin America division in a very commendable manner,while Jennifer and Jan-Mikael have also made substantial contributionsto Skandia in their respective areas. They all deserve our utmostthanks, and we wish them the best of success," comments JulianRoberts.

Notes to the editor

Gavin Cookman

Born 1962, BA Hons History. Director for Operational Change, OldMutual employee since 2003, Skandia employee since February 2006.

Ian Cutler

Born 1960, B Comm MM. Director of Human Resources, Old Mutualemployee since 2003, Skandia employee since 2006

Helena Nelson

Born 1965, LL.M. General Counsel, Skandia employee since 1994.

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