The combined pension assets of the Second Swedish National Pension Fund/AP2 (hereafter named “the Second AP Fund”) totalled SEK 173.0 billion on June 30th 2005, an increase of SEK 14.9 billion, including inflows. The return on the Fund’s invested assets for the six months ending June 30th 2005 was 8.4 percent, excluding expenses. The result for the report period was SEK 13.2 billion.

• “We are proud of this result,” says CEO Lars Idermark, Second AP Fund. “The selection of benchmark portfolio and choice of index were key factors in achieving a satisfactory return on assets in 2005.”

• “We have also introduced a number of measures to further enhance the efficient management of invested assets. There has been a sharp reduction in the number of external managers and a greater proportion of the assets under management has been handled in-house,” states Lars Idermark.

For the first time, the Second AP Fund has published a separate Corporate Governance report.

Read the entire Half year report 2005 and the Corporate Governance report of June 2005.

For further details, please contact Lars Idermark or the Second AP Fund’s Head of Corporate Governance & Communications, Carl Rosén, on +46 (0)31 7042900