Press Release                                              

                                                                                       Stockholm, 23 April 2009

Första AP-fonden to review ownership policy

In light of the Swedish Government’s new guidelines for executive officers in companies where the AP funds have equity holdings (20 April 2009), the Board of Första AP-fonden decided at its meeting today to take immediate action to interpret the guidelines and how they can be incorporated into the Fund’s ownership policy. In this process, Första AP-fonden will seek dialogue with the other AP funds before deciding on changes in the ownership policy.

Until a final decision has been made regarding a revision of the ownership policy, Första AP-fonden will refrain from voting on resolutions related to remuneration principles and incentive systems for senior executives in the companies where the Fund has holdings.

For additional information contact:

Anna Hedborg
Chairman, Första AP-fonden
Tel: +46 8-405 41 74

Nadine Viel Lamare
Head of Corporate Communications, Första AP-Fonden
Tel: +46 709-681 270

Första AP-fonden, the First National Pension Fund, is one of five buffer funds whose role is to ensure future retirement pensions in the reformed pension system. Första AP-fonden’s mission is to achieve the highest possible returns on the Fund’s assets, with well-balanced financial risks, and thereby contribute to high and predictable long-term retirement pensions for current and future pensioners. At 31 December 2008, Första AP-fonden had net assets under management of SEK 171.6 billion.