2009-11-04 08:30:00 CET

2009-11-04 08:30:07 CET


REGULATED INFORMATION

Sampo - Interim report (Q1 and Q3)

SAMPO GROUP´S RESULTS FOR JANUARY - SEPTEMBER 2009


SAMPO PLC               INTERIM REPORT            4 November 2009, at 9.30 am   


SAMPO GROUP´S RESULTS FOR JANUARY - SEPTEMBER 2009                              

MARKED TO MARKET RESULT EXCEEDED EUR 3.5 BILLION                                

Total comprehensive income for the period, taking changes in the market value of
assets into account, rose to EUR 3,524 million (-743). Sampo Group reported a   
profit before taxes for January - September 2009 of EUR 625 million (664).      
Earnings per share amounted to EUR 0.88 (0.91). Earnings per share, including   
the change in the fair value reserve, shot up to EUR 6.05 (-1.19).              

- Sampo Group's net asset value per share increased to EUR 13.76 (8.28). The    
fair value reserve on the Group level rose by more than EUR 2.9 billion from the
end of 2008 and was EUR 538 million (-2,364).                                   

- Profit before taxes in P&C insurance increased to EUR 476 million (395) and   
the combined ratio remained stable at 92.0 per cent (91.8). The third quarter   
profit at fair value was higher than ever before in If P&C's history.           

- Profit before taxes in life insurance was EUR 85 million (114). Marked to     
market profit rose to EUR 535 million (-327). Premium income grew 35 percent to 
EUR 513 million (381). Market share in unit-linked insurance in Finland grew to 
26.6 per cent (20.9).                                                           

- The segment ‘Holding' reported a profit before taxes of EUR 41 million (155). 
The profit contains EUR 80 million of dividends (130) received from Nordea in   
April 2009.                                                                     

- Sampo's Board applied on 27 August 2009 from the Swedish Financial Supervisory
Authority for permission to increase the holding in Nordea Bank AB (publ) above 
20 per cent. The permission was granted on 20 October 2009. On 2 November 2009  
Sampo plc held 802,759,000 Nordea shares and owned 19.88 per cent of company's  
total capital. Average price paid per share amounted to EUR 6.38. Nordea's      
closing price on 2 November 2009 was EUR 7.29.                                  

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| KEY FIGURES             |    1-9 |   1-9 | Change |    Q3 |     Q3 |  Change |
--------------------------------------------------------------------------------
| EURm                    |   2009 | 2008  |      % |  2009 |   2008 |       % |
--------------------------------------------------------------------------------
| Profit before taxes     |    625 |   664 |     -6 |   192 |    242 |     -20 |
--------------------------------------------------------------------------------
|  P&C insurance          |    476 |   395 |     21 |   167 |    213 |     -21 |
--------------------------------------------------------------------------------
|  Life insurance         |     85 |   114 |    -25 |    32 |     22 |      45 |
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|  Holding                |     41 |   155 |    -74 |   -12 |      6 |       - |
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| Profit for the period   |    493 |   521 |     -6 |   148 |    175 |     -15 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|                         |        |       | Change |       |        |  Change |
--------------------------------------------------------------------------------
| Earnings per share, EUR |   0.88 |  0.91 |  -0.03 |  0.27 |   0.31 |   -0.04 |
--------------------------------------------------------------------------------
| EPS (incl. change in    |   6.05 | -1.19 |   7.24 |  2.72 |  -0.29 |    3.01 |
| FVR) EUR                |        |       |        |       |        |         |
--------------------------------------------------------------------------------
| NAV per share, EUR *)   |  13.76 |  8.28 |   5.48 |     - |      - |       - |
--------------------------------------------------------------------------------
| Average number of staff |  7,376 | 7,029 |    347 |     - |      - |       - |
| (FTE)                   |        |       |        |       |        |         |
--------------------------------------------------------------------------------
| Group solvency ratio, % |  810.8 | 433.6 |  377.2 |     - |      - |       - |
| *)                      |        |       |        |       |        |         |
--------------------------------------------------------------------------------
| RoE, %                  |   73.1 | -12.9 |   86.0 |     - |      - |       - |
--------------------------------------------------------------------------------

*) comparison figure from 31.12.2008                                            

The figures in this report are not audited. Income statement items are compared 
on a year-on-year basis whereas comparison figures for balance sheet items are  
from 31 December 2008 unless otherwise stated.                                  


TREATMENT OF NORDEA AS AN ASSOCIATED COMPANY                                    

Sampo's holding in Nordea is expected to exceed 20 percent by the end of 2009   
and then Nordea will be accounted by equity method in Sampo Group's accounts.   

In connection with this the carrying value of the Nordea shares held by Sampo,  
and valued at fair value, will be reinstated at acquisition cost. The ensuing   
reduction of the fair value reserve will decrease Sampo Group's equity. The     
equity accounting of Nordea will, however, have no effect on Sampo Group's net  
asset value reported at fair value.                                             

Sampo Group's solvency capital will include the proportion of Nordea's solvency 
capital corresponding to Sampo's shareholding reduced by the acquisition price  
for the shares. Sampo Group's minimum solvency requirement will similarly       
increase with the same proportion of Nordea's minimum solvency requirement.     

Accounting by equity method is expected to commence on 31 December 2009.        


THIRD QUARTER 2009 IN BRIEF                                                     

For the third quarter of 2009 Sampo Group reported a profit before taxes of EUR 
192 million (242). Earnings per share were EUR 0.27 (0.31). Taking the change in
the fair value reserve into account earnings per share rose to EUR 2.72 (-0.29).

Net asset value per share increased in the third quarter of 2009 by EUR 2.89.   
The change in the fair value reserve on the Group level amounted to EUR 1,375   
million.                                                                        

P&C insurance reported a profit before taxes of EUR 167 million (213) for the   
third quarter. The combined ratio amounted to 90.9 per cent (90.6). Premium     
income in euros decreased four percent to EUR 715 million (744) due to weakness 
of Swedish and Norwegian currencies.                                            

Profit before taxes for Sampo Group's life insurance operations amounted to EUR 
32 million (22). Solvency capital continued to strengthen and the solvency ratio
rose to 16.8 per cent from 11.6 per cent at the end of June 2009. Premiums      
written increased to EUR 181 million (148).                                     

Segment ‘Holding' reported a loss before taxes of EUR 12 million (6) in the     
third quarter of 2009 due to finance cost of EUR 16 million.                    


BUSINESS AREAS                                                                  

P&C insurance            

If P&C is the leading property and casualty insurance company in the Nordic     
region, with insurance operations that also encompass the Baltic countries and  
Russia. The P&C insurance group's parent company, If P&C Insurance Holding Ltd, 
is located in Sweden, and the If subsidiaries provide insurance solutions and   
services in Finland, Sweden, Norway, Denmark, the Baltic countries and Russia.  
If's operations are divided into four business areas: Private, Commercial,      
Industrial and Baltic & Russia.                                                 


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| KEY FIGURES          |    1-9 |    1-9 |  Change |     Q3 |     Q3 |  Change |
--------------------------------------------------------------------------------
| EURm                 |   2009 |   2008 |       % |   2009 |   2008 |       % |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Premiums, net        |  2,889 |  3,096 |      -7 |    715 |    744 |      -4 |
--------------------------------------------------------------------------------
| Net income from      |    284 |    180 |      58 |     93 |    130 |     -29 |
| investments          |        |        |         |        |        |         |
--------------------------------------------------------------------------------
| Other operating      |     17 |     20 |     -14 |      6 |      6 |       4 |
| income               |        |        |         |        |        |         |
--------------------------------------------------------------------------------
| Claims incurred      | -1,847 | -1,971 |      -6 |   -613 |   -654 |      -6 |
--------------------------------------------------------------------------------
| Change in insurance  |   -177 |   -212 |     -16 |    201 |    228 |     -12 |
| liabilities          |        |        |         |        |        |         |
--------------------------------------------------------------------------------
| Staff costs          |   -347 |   -346 |       0 |   -127 |   -120 |       6 |
--------------------------------------------------------------------------------
| Other expenses       |   -321 |   -352 |      -9 |   -100 |   -114 |     -12 |
--------------------------------------------------------------------------------
| Finance costs        |    -22 |    -22 |       4 |     -7 |     -8 |      -5 |
--------------------------------------------------------------------------------
| Profit before taxes  |    476 |    395 |      21 |    167 |    213 |     -21 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|                      |        |        |  Change |        |        |  Change |
--------------------------------------------------------------------------------
| Combined ratio, %    |   92.0 |   91.8 |     0.2 |   90.9 |   90.6 |     0.3 |
--------------------------------------------------------------------------------
| Risk ratio, %        |   68.1 |   68.3 |    -0.2 |   66.9 |   67.3 |    -0.3 |
--------------------------------------------------------------------------------
| Cost ratio, %        |   23.8 |   23.5 |     0.3 |   24.0 |   23.3 |     0.7 |
--------------------------------------------------------------------------------
| Expense ratio, %     |   17.3 |   17.1 |     0.2 |   17.3 |   17.1 |     0.2 |
--------------------------------------------------------------------------------
| Return on equity, %  |   54.0 |    0.2 |    53.8 |      - |      - |       - |
--------------------------------------------------------------------------------
| Average number of    |  6,863 |  6,562 |     301 |      - |      - |       - |
| staff                |        |        |         |        |        |         |
| (FTE)                |        |        |         |        |        |         |
--------------------------------------------------------------------------------


Profit before taxes for P&C insurance for the first three quarters of 2009 grew 
more than 20 percent to EUR 476 million (395). Technical result was EUR 374     
million (419). Of the technical result, business area Private accounted for 50  
per cent, Commercial for 28 per cent, Industrial for 15 per cent and Baltic and 
Russia for 5 per cent. Insurance margin (technical result in relation to net    
premiums earned) was 13.8 per cent (14.4).                                      

Return on equity (RoE) at market values improved to 54.0 per cent (0.2). Fair   
value reserve at the end of September 2009 was EUR 28 million (-414).           

Combined ratio for January - September 2009 was 92.0 per cent (91.8). Risk ratio
improved to 68.1 percent (68.3) but cost ratio weakened to 23.8 per cent (23.5).
Cost ratio deteriorated in all business areas due to the volume decline         
following the recession. The consolidation of Russian business contributed 0.2  
percentage points to the weakening.                                             

Due to decreasing risk ratio the combined ratio improved in business area       
Industrial and was 90.9 per cent (94.9). In other business areas combined ratios
weakened slightly with Private at 92.3 per cent (91.5) and Commercial at 93.1   
per cent (92.6). Combined ratio for Baltic and Russia weakened by 5 percentage  
points but was still very strong at 89.4 per cent (84.4).                       

Combined ratio in Finland improved to 85.2 per cent (88.1) due to favourable    
development of both risk and cost ratios. In other countries the combined ratios
weakened with Sweden at 94.6 per cent (92.7), Norway at 95.0 per cent (94.4) and
Denmark at 92.7 per cent (91.6). During 2009 If has implemented a number of     
profitability actions, e.g. significant premium increases in Norway and Denmark.

Gross written premiums decreased seven percent to EUR 3,083 million (3,317).    
With fixed currency rates the premiums grew 0.3 percent, compared to the same   
period in 2008, with significant effects from the economic downturn. Premiums   
grew in business area Private with 1.6 percent and in business area Industrial  
with 1.1 percent, whereas they decreased in business area Commercial with 0.5   
percent and in business area Baltic&Russia with 12.0 percent. The notable       
weakening in the average exchange rate of the Swedish and Norwegian currencies  
against euro in 2009 is reflected also in the growth figures of e.g. claims and 
technical result in euros.                                                      

Claims incurred decreased by 6 per cent to EUR 1,847 million (1,971). Risk ratio
improved to 68.1 per cent (68.3). EUR 79 million (80) was released from the     
technical reserves relating to prior year claims. Reserve ratio was 172 percent 
(177) of net premiums written and 240 per cent (250) of claims paid.            

Reported net income from investments grew more than 50 percent to EUR 284       
million (180) in the first three quarters of 2009. Realized gains and losses    
also contain impairment losses of EUR 22 million.  During the same period the   
fair value reserve in the P&C insurance segment grew by EUR 442 million to EUR  
28 million.                                                                     

On 30 September 2009 total investment assets amounted to EUR 10.8 billion (9.0),
of which 90 per cent (95) was invested in fixed income instruments, 9 per cent  
(5) in equity and 1 per cent (1) in other assets. Investment return at market   
values for January-September 2009 was 10.1 per cent (-1.7). At the end of       
September 2009 the duration for interest bearing assets was 2.5 years (3.1) and 
running yield on fixed income instruments was 4 per cent.                       

On 30 September 2009 solvency capital amounted to EUR 3,133 million (2,221) and 
the solvency ratio (solvency capital in relation to net premiums written)       
strengthened further to 83 per cent (66).                                       


Life insurance                                                                  

Mandatum Life Group consists of Mandatum Life, a wholly-owned subsidiary of     
Sampo plc, operating in Finland, and its subsidiary Sampo Life Insurance Baltic 
SE, which has the form of a European company and is headquartered in Estonia. It
operates in the other Baltic countries through branches.                        

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| KEY FIGURES           |    1-9 |   1-9 |  Change |     Q3 |     Q3 |  Change |
--------------------------------------------------------------------------------
| EURm                  |   2009 |  2008 |       % |   2009 |   2008 |       % |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Premiums              |    513 |   381 |      35 |    181 |    148 |      22 |
--------------------------------------------------------------------------------
| Net income from       |    495 |   -94 |       - |    244 |   -111 |       - |
| investments           |        |       |         |        |        |         |
--------------------------------------------------------------------------------
| Claims incurred       |   -466 |  -623 |     -25 |   -154 |   -211 |     -27 |
--------------------------------------------------------------------------------
| Change in liabilities |   -395 |   512 |       - |   -217 |    215 |       - |
| for                   |        |       |         |        |        |         |
| inv. and ins.         |        |       |         |        |        |         |
| contracts             |        |       |         |        |        |         |
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| Staff costs           |    -20 |   -17 |      15 |     -7 |     -5 |      32 |
--------------------------------------------------------------------------------
| Other expenses        |    -37 |   -36 |       2 |    -13 |    -11 |      12 |
--------------------------------------------------------------------------------
| Finance costs         |     -6 |    -9 |     -30 |     -2 |     -3 |     -37 |
--------------------------------------------------------------------------------
| Profit before taxes   |     85 |   114 |     -25 |     32 |     22 |      45 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|                       |        |       |  Change |        |        |         |
--------------------------------------------------------------------------------
| Expense ratio, %      |  116.5 | 112.1 |     4.4 |        |        |         |
--------------------------------------------------------------------------------
| Return on equity, %   |  116.5 | -51.6 |   168.1 |        |        |         |
--------------------------------------------------------------------------------
| Average number of     |    459 |   414 |      45 |        |        |         |
| staff (FTE)           |        |       |         |        |        |         |
--------------------------------------------------------------------------------

Profit before taxes in life insurance for January - September 2009 was EUR 85   
million (114). Net investment income, excluding income on unit-linked contracts,
amounted to EUR 205 million (235). Realized gains and losses also contain       
impairment losses of EUR 96 million. Net income from unit-linked investments was
EUR 290 million (-330).                                                         

Fair value reserve strengthened by EUR 337 million from the end of 2008 and was 
EUR 146 million (-192) on 30 September 2009. The annualized return on equity    
(RoE) in life insurance was 116.5 per cent (-51.6).                             

Excluding the assets of EUR 2.2 billion (1.6) covering unit-linked liabilities, 
Mandatum Life Group's investment assets amounted to EUR 5.2 billion (4.7) at    
market values on 30 September 2009. Fixed income covered 73 per cent (78),      
equity 19 per cent (12), private equity 4 per cent (5), real estate 3 per cent  
(3) and other instruments 2 per cent (2) of the total assets.                   

Return on investments at market values for January - September 2009 was 14.0 per
cent (-4.1). At the end of September 2009 the duration of fixed income assets   
was 2.6 years (2.4) and running yield on fixed income instruments was 5.3 per   
cent.                                                                           

Mandatum Life Group's expense ratio was 116 per cent (112). Taking into account 
all fee income intended to cover expenses, expense ratio was 98 % (89). The     
slight increase in costs is related to start-up costs of the new wealth         
management services and the fact that Mandatum Life does not defer acquisition  
costs.                                                                          

Mandatum Life Group's solvency capital amounted to EUR 832 million (384) on 30  
September 2009 clearly exceeding the regulatory requirements. Solvency ratio was
16.8 per cent (7.9). Total technical reserves were EUR 6.6 billion (6.1), from  
which unit-linked reserves accounted for EUR 2.1 billion (1.6). The share of    
unit-linked reserves of total technical reserves was 32 per cent (25).          

Mandatum Life Group's premium income on own account for the first three quarters
of 2009 was EUR 513 million (381). Unit-linked premiums increased to EUR 355    
million (212) and the share of unit-linked premiums was 69 per cent of total    
premiums (55). Growth is mainly driven by Mandatum Life's own wealth management 
services and its successful co-operation with existing corporate channels.      

Mandatum Life's market share measured by premium income in unit-linked insurance
in Finland rose to 26.6 per cent (20.9). The overall market share was 23.6 per  
cent (19.2). Premium income from the Baltic operations increased to EUR 29      
million (25). Market share in the Baltic countries at the end of August 2009    
increased to 15 per cent (12) and unit-linked market share to 25 per cent (18). 


Holding                                                                         

Sampo plc controls its subsidiaries engaged in P&C and life insurance. In       
addition Sampo plc held on 30 September 2009 approximately 19.8 per cent of the 
share capital of Nordea, the largest bank in the Nordic countries.              

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| KEY FIGURES         |    1-9 |    1-9 | Change |      Q3 |      Q3 |  Change |
--------------------------------------------------------------------------------
| EURm                |   2009 |   2008 |      % |    2009 |    2008 |       % |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net investment      |     93 |    198 |    -53 |       6 |      18 |     -66 |
| income              |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Other operating     |      9 |      4 |    152 |       3 |       2 |      57 |
| income              |        |        |        |         |         |         |
--------------------------------------------------------------------------------
| Staff costs         |     -8 |     -9 |    -13 |      -2 |      -3 |     -12 |
--------------------------------------------------------------------------------
| Other expenses      |    -14 |    -10 |     32 |      -3 |      -2 |      41 |
--------------------------------------------------------------------------------
| Finance costs       |    -39 |    -27 |     43 |     -16 |      -9 |      77 |
--------------------------------------------------------------------------------
| Profit before taxes |     41 |    155 |    -74 |     -12 |       6 |       - |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|                     |        |        | Change |         |         |         |
--------------------------------------------------------------------------------
| Average number of   |     54 |     53 |      1 |         |         |         |
| staff (FTE)         |        |        |        |         |         |         |
--------------------------------------------------------------------------------

Holding segment reported a profit before taxes of EUR 41 million (155) for the  
first three quarters of 2009. The profit contains EUR 80 million (130) in       
dividends received from Nordea in April 2009 and a loss of EUR 19 million due to
Sampo plc selling its holding in Topdanmark to its fully-owned subsidiary If P&C
Insurance Holding Ltd in the first quarter of the year. The loss is eliminated  
in the consolidated Group accounts.                                             

The fair value reserve strengthened by EUR 902 million to EUR 381 million (-521)
in the third quarter and by EUR 2,140 million from the end of 2008.             
On 30 September 2009 Sampo plc held shares in Nordea Bank to a market value of  
EUR 5.5 billion. All in all Sampo plc has invested EUR 5.1 billion in Nordea and
on 30 September 2009 held 800,000,000 Nordea shares corresponding to a holding  
of 19.8 per cent. Average price paid per share amounted to EUR 6.38 and the     
closing price of Nordea on 30 September 2009 was EUR 6.86. Other Sampo Group    
companies held no shares in Nordea.                                             In addition Sampo plc had approximately EUR 120 million in cash and short-term  
fixed income instruments as liquidity reserve. Sampo plc's assets also include  
holdings in subsidiaries for EUR 2.4 billion (2.4).                             

On 30 September 2009 Sampo plc's balance sheet liabilities include issued senior
bonds and notes of EUR 949 million and EUR 460 million of outstanding CPs issued
under its domestic CP programme. After the exchange offer EUR 37 million of the 
subordinated note remains on the balance sheet. Net debt on 30 September        
amounted to EUR 1,353 million (500).                                            

Sampo plc signed a EUR 200 million revolving credit facility in April 2009. The 
facility is undrawn.                                                            


DEVELOPMENTS IN THE THIRD QUARTER OF 2009                                       

Administration                                                                  

On 27 August 2009 Sampo's Board of Directors nominated Timo Vuorinen as a member
of Group Executive Committee starting from 1 September 2009. Vuorinen is        
responsible for BA Baltic and Russia in If P&C Insurance, Sampo plc's           
subsidiary, and Managing Director of If P&C Insurance Company Ltd (Finland).    


Changes in group structure                                                      

If P&C Insurance Holding Ltd finalized the project of combining its Baltic      
subsidiaries into one company on 1 July 2009. The new company, If P&C Insurance 
AS, operates in all the Baltic countries and has its domicile in Estonia and    
branches in Latvia and Lithuania.                                               

On 17 July 2009 Mandatum Life sold its Topdanmark shares to If P&C. All         
Topdanmark shares owned by Sampo Group are now held by If P&C. The holding      
amounts to 1,889,076 shares corresponding to 11.2 per cent of Topdanmark's share
capital.                                                              


Shares and share capital                                                        

On 30 September 2009 Sampo plc had 561,372,390 shares, divided into 560,172,390 
A shares and 1,200,000 B shares. Sampo plc's share capital amounted to EUR 98   
million (98) on 30 September 2009.                                              

The Annual General Meeting held on 7 April 2009 authorized the Board to acquire 
in one or several lots a maximum of 50,000,000 Sampo A shares. Shares can be    
repurchased in other proportion than the shareholders' proportional             
shareholdings (private repurchase). The authorization will be valid until the   
close of the next Annual General Meeting, nevertheless not more than 18 months  
after AGM's decision.                                                           

During the first nine months of 2009 Sampo plc did not repurchase its own       
shares. On 30 September 2009 none of the companies in Sampo Group held any      
shares in Sampo plc.                                                            


Staff                                                                           

The number of full-time equivalent staff decreased in January - September 2009  
to 7,219 employees on 30 September 2009 from 7,458 employees on 31.12.2008.     

Approximately 93 per cent of the staff worked in P&C insurance, 6 per cent in   
life insurance and 1 per cent in the holding company. Geographically, 30 per    
cent worked in Finland, 26 per cent in Sweden, 22 per cent in Norway and 21 per 
cent in the Baltic countries and Russia, Denmark and other countries. The       
average number of employees during the first three quarters of 2009 was 7,376   
compared with 7,029 in the same period previous year.                           


Management incentive schemes                                                    

The management incentive schemes in Sampo Group are of two types; long-term     
management incentive schemes and a share-based incentive scheme. No payments 
based on these schemes have been made during 2009.                              

Continuity is emphasized in committing and remunerating Sampo Group's management
and other key employees. Sampo plc's Board of Directors decided on 27 August    
2009 to adopt a new long-term incentive scheme 2009:1. The scheme complements   
earlier schemes and is targeted at Sampo Group's management and other key       
employees. Currently 117 key employees are participating in the scheme.         
The                                                                             
terms of the incentive scheme 2009:1 and other schemes are available on Sampo's 
internet site at www.sampo.com/compensation.                                    

Ratings                                                                         

All the main ratings for Sampo Group companies remained unchanged in the third  
quarter of 2009.                                                                

--------------------------------------------------------------------------------
| Rated company            |        Moody's         |   Standard and Poor's    |
--------------------------------------------------------------------------------
|                          | Rating    | Outlook    |  Rating    | Outlook     |
--------------------------------------------------------------------------------
| Sampo plc                |      Baa2 |     Stable |  Not rated |           - |
--------------------------------------------------------------------------------
| If P&C Insurance Ltd     |        A2 |     Stable |          A |      Stable |
| (Sweden)                 |           |            |            |             |
--------------------------------------------------------------------------------
| If P&C Insurance Company |        A2 |     Stable |          A |      Stable |
| Ltd                      |           |            |            |             |
| (Finland)                |           |            |            |             |
--------------------------------------------------------------------------------


Group solvency                                                                  

The Group solvency is based on adjusted solvency calculation method for         
insurance groups according to the Decree of the Ministry of Social Affairs and  
Health (1106/2000), Chapter 7.1 §. The adjusted solvency is determined on the   
basis of the Group financial statements as permitted by the Insurance           
Supervisory Authority.                                                          

The Group's solvency ratio (own funds in relation to minimum requirements for   
own funds) on 30 September 2009 was 810.8 per cent (433.6).                     

--------------------------------------------------------------------------------
| SAMPO GROUP SOLVENCY              |  30 September 2009 |    31 December 2008 |
--------------------------------------------------------------------------------
| EURm                              |                    |                     |
--------------------------------------------------------------------------------
| Group capital                     |              7,715 |               4,631 |
--------------------------------------------------------------------------------
| Sectoral items                    |                633 |                 391 |
--------------------------------------------------------------------------------
| Intangibles and other deductibles |             -1,389 |              -1,571 |
--------------------------------------------------------------------------------
| Group's own funds, total          |              6,960 |               3,452 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Minimum requirements for own      |                858 |                 796 |
| funds, total                      |                    |                     |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group solvency                    |              6,101 |               2,656 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group solvency ratio              |                    |                     |
--------------------------------------------------------------------------------
| (Own funds % of minimum           |              810.8 |               433.6 |
| requirements)                     |                    |                     |
--------------------------------------------------------------------------------

In Sampo Group risks are assessed and aggregated internally using an economic   
capital framework, which quantifies the amount of capital required to protect   
the economic solvency over a one year time horizon.                             

The economic capital tied up in Group's operations on 30 September 2009 was EUR 
3,279 million (1,959) at 99.5 per cent's confidence level. The upcoming Solvency
II regulations will use a confidence level of 99.5 per cent. The change in the  
economic capital required was based on the increase of the Nordea holding. As   
Nordea is not yet consolidated in the Group accounts, it is treated in the      
calculation as an equity investment.                                            


OUTLOOK FOR THE REST OF 2009                                                    

Financial conditions have improved significantly during the last quarter and    
many economies are on the verge of starting to expand again. Market sentiment   
has rebounded with banks raising capital and wholesale funding markets          
reopening. The pace of recovery will, however, not be explosive and consumers   
cannot be expected to boost the growth with current employment outlook.         
Volatility remains high and injects a measure of uncertainty into any forecast  
for the immediate future.                                                       

Sampo Group is expected to report a good result for 2009 largely based on the   
earnings of the P&C insurance operation. Improving asset values are reflected in
valuations of Sampo Group's investment assets and the returns achieved. Marked  
to market result is expected to be very good.                                   
The insurance technical result of If P&C is not expected to suffer in 2009 from 
the macro economic development. If P&C is expected to reach a combined ratio of 
92 - 93 per cent, well below its long-term target of 95 per cent. A dividend of 
EUR 400 million is planned to be paid to Sampo plc in December 2009, in addition
to an earlier dividend of approximately EUR 100 million in May 2009.            

Mandatum Life's reported pre-tax profit is expected to remain stable at the same
level as in earlier quarters of 2009. The marked to market result for 2009 will 
be significantly higher barring any dramatic adverse changes in the investment  
markets during the rest of the year.                                            

Sampo plc is expected to increase its holding in Nordea to exceed 20 per cent   
before the end of 2009 and to start accounting the holding with equity method as
of 31 December 2009.                                                            

SAMPO PLC                                                                       
Board of Directors                                                              

For more information, please contact:                                           

Peter Johansson, Group CFO, tel. +358 10 516 0010                               
Jarmo Salonen, Head of Investor Relations and Group Communications, tel. +358 10
516 0030                                                                        
Maria Silander, Press Officer, tel. +358 10 516 0031                            

A telephone conference in English for investors and analysts on the third       
quarter results will be held at 4 pm Finnish time (2 pm UK time). Please call   
+44 207 162 0025 (UK/European) or +1 334 323 6201 (North American). Password:   
SAMPO.                                                                          

The telephone conference can also be followed from a direct transmission on the 
Internet at www.sampo.com/ir. A recorded version will later be available at the 
same address.                                                                   

In addition, a webcast of Group CEO and President Kari Stadigh's review of      
developments in the third quarter of 2009 and supplementary information are     
available at www.sampo.com/ir.                                                  

Sampo will publish the full-year 2009 Financial Statement Release on 11 February
2010.                                                                           

DISTRIBUTION:                                                                   
NASDAQ OMX Helsinki                                                             
The principal media                                                             
Financial Supervisory Authority                                                 
www.sampo.com                                                                   



























--------------------------------------------------------------------------------
| GROUP FINANCIAL REVIEW                 |          |            |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| FINANCIAL HIGHLIGHTS                   |          |   1-9/2009 |    1-9/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| GROUP                                  |          |            |             |
--------------------------------------------------------------------------------
| Profit before taxes                    |     EURm |        625 |         664 |
--------------------------------------------------------------------------------
| Return on equity (at fair value)       |        % |       73.1 |       -12.9 |
--------------------------------------------------------------------------------
| Return on assets (at fair value)       |        % |       22.4 |        -2.0 |
--------------------------------------------------------------------------------
| Equity/assets ratio                    |        % |       28.8 |        25.2 |
--------------------------------------------------------------------------------
| Group solvency ¹)                      |     EURm |      6,101 |       4,796 |
--------------------------------------------------------------------------------
| Group solvency ratio                   |        % |      810.8 |       655.9 |
--------------------------------------------------------------------------------
| Average number of staff                |          |      7,376 |       7,029 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| PROPERTY & CASUALTY INSURANCE          |          |            |             |
--------------------------------------------------------------------------------
| Premiums written before reinsurers'    |     EURm |      3,083 |       3,317 |
| share                                  |          |            |             |
--------------------------------------------------------------------------------
| Premiums earned                        |     EURm |      2,712 |       2,884 |
--------------------------------------------------------------------------------
| Profit before taxes                    |     EURm |        476 |         395 |
--------------------------------------------------------------------------------
| Return on equity (at current value)    |        % |       54.0 |         0.2 |
--------------------------------------------------------------------------------
| Risk ratio ²)                          |        % |       68.1 |        68.3 |
--------------------------------------------------------------------------------
| Cost ratio ²)                          |        % |       23.8 |        23.5 |
--------------------------------------------------------------------------------
| Loss ratio ²)                          |        % |       75.8 |        76.2 |
--------------------------------------------------------------------------------
| Loss ratio excl. unwinding of discount |        % |       74.7 |        74.7 |
| ³)                                     |          |            |             |
--------------------------------------------------------------------------------
| Expense ratio ²)                       |        % |       17.3 |        17.1 |
--------------------------------------------------------------------------------
| Combined ratio                         |        % |       93.1 |        93.4 |
--------------------------------------------------------------------------------
| Combined ratio excl. unwinding of      |        % |       92.0 |        91.8 |
| discount                               |          |            |             |
--------------------------------------------------------------------------------
| Average number of staff                |          |      6,863 |       6,562 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| LIFE INSURANCE                         |          |            |             |
--------------------------------------------------------------------------------
| Premiums written before reinsurers'    |     EURm |        519 |         388 |
| share                                  |          |            |             |
--------------------------------------------------------------------------------
| Profit before taxes                    |     EURm |         85 |         114 |
--------------------------------------------------------------------------------
| Return on equity (at current value)    |        % |      116.5 |       -51.6 |
--------------------------------------------------------------------------------
| Expense ratio                          |        % |      116.5 |       112.1 |
--------------------------------------------------------------------------------
| Average number of staff                |          |        459 |         414 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| HOLDING                                |          |            |             |
--------------------------------------------------------------------------------
| Profit before taxes                    |     EURm |         41 |         155 |
--------------------------------------------------------------------------------
| Average number of staff                |          |         54 |          53 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| PER SHARE KEY FIGURES                  |          |            |             |
--------------------------------------------------------------------------------
| Earnings per share                     |     EUR  |       0.88 |        0.91 |
--------------------------------------------------------------------------------
| Earnings per share, incl. change in    |          |            |             |
| fair value                             |          |            |             |
--------------------------------------------------------------------------------
| reserve                                |     EUR  |       6.05 |       -1.19 |
--------------------------------------------------------------------------------
| Capital and reserves per share         |     EUR  |      13.74 |       10.95 |
--------------------------------------------------------------------------------
| Net asset value per share              |     EUR  |      13.76 |       10.98 |
--------------------------------------------------------------------------------
| Adjusted share price, high             |     EUR  |      17.60 |       19.30 |
--------------------------------------------------------------------------------
| Adjusted share price, low              |     EUR  |       8.63 |       14.74 |
--------------------------------------------------------------------------------
| Market capitalisation                  |     EURm |      9,661 |       9,039 |
--------------------------------------------------------------------------------



¹)  The Group solvency is based on adjusted solvency calculations for insurance 
groups according to the Decree of the Ministry of Social Affairs and Health     
(1106/2000), Chapter 7.1 §. The adjusted solvency is determined on the basis of 
the Group financial statements as permitted by the Financial Supervisory        
Authority (former Insurance Supervisory Authority ). 						                     
²) The key figures for P&C Insurance are based on activity based costs and      
cannot, therefore, be calculated directly from the consolidated income          
statement. The result analysis of P&C insurance is presented in note 13.						  
In calculating the per share key figures, the number of shares used at the      
balance sheet date and as the average number of shares during the period was    
561,372,390. 					                                                              
In calculating the key figures, the tax corresponding to the result for the     
accounting period has been taken into account. The valuation differences of     
investment property and held-to-maturity debt securities have been taken into   
account in return on assets, return on equity, equity/assets ratio and net asset
value per share. Additionally, the change in fair value reserve has been taken  
into account in return on assets and return on equity. A deferred tax liability 
has been deducted from the valuation differences.						                         
The key figures for the insurance business have been calculated in accordance   
with the decree issued by the Ministry of Finance and the specifying regulations
and instructions of the Finance Supervisory Authority (former Insurance         
Supervisory Authority).                                                         

--------------------------------------------------------------------------------
| CALCULATION OF KEY FIGURES                              |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Return on equity (fair values), %                       |                    |
--------------------------------------------------------------------------------
| + profit before taxes                                   |                    |
--------------------------------------------------------------------------------
| + change in fair value reserve                          |                    |
--------------------------------------------------------------------------------
| + change in valuation differences on investments        |                    |
--------------------------------------------------------------------------------
| - tax (incl. change in deferred tax relating to         | x 100 %            |
| valuation differences on investments)                   |                    |
--------------------------------------------------------------------------------
| + total equity                                          |                    |
--------------------------------------------------------------------------------
| + valuation differences on investments after deduction  |                    |
| of deferred tax                                         |                    |
--------------------------------------------------------------------------------
| (average of values 1 Jan. and the end of reporting      |                    |
| period)                                                 |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Return on assets (at fair values), %                    |                    |
--------------------------------------------------------------------------------
| + operating profit                                      |                    |
--------------------------------------------------------------------------------
| + interest and other financial charges                  |                    |
--------------------------------------------------------------------------------
| + calculated interest on technical provisions           |                    |
--------------------------------------------------------------------------------
| + change in fair value reserve                          |                    |
--------------------------------------------------------------------------------
| + change in valuation differences on investments        | x 100 %            |
--------------------------------------------------------------------------------
| + balance sheet total                                   |                    |
--------------------------------------------------------------------------------
| -  technical provisions relating to unit-linked         |                    |
| insurance                                               |                    |
--------------------------------------------------------------------------------
| + valuation differences on investments                  |                    |
--------------------------------------------------------------------------------
| (average of values on 1 Jan. and the end of the         |                    |
| reporting period)                                       |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity/assets ratio (at fair values), %                 |                    |
--------------------------------------------------------------------------------
| + total equity                                          |                    |
--------------------------------------------------------------------------------
| + valuation differences on investments after deduction  | x 100 %            |
| of deferred tax                                         |                    |
--------------------------------------------------------------------------------
| + balance sheet total                                   |                    |
--------------------------------------------------------------------------------
| + valuation differences on investments                  |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Risk ratio for P&C Insurance, %                         |                    |
--------------------------------------------------------------------------------
| + claims incurred                                       |                    |
--------------------------------------------------------------------------------
| - claims settlement expenses                            | x 100 %            |
--------------------------------------------------------------------------------
| insurance premiums earned                               |                    |
--------------------------------------------------------------------------------
|                                                         |                    |
--------------------------------------------------------------------------------
| Cost ratio for P&C Insurance, %                         |                    |
--------------------------------------------------------------------------------
| + operating expenses                                    |                    |
--------------------------------------------------------------------------------
| + claims settlement expenses                            | x 100 %            |
--------------------------------------------------------------------------------
| insurance premiums earned                               |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Loss ratio for P&C Insurance, %                         |                    |
--------------------------------------------------------------------------------
| claims incurred                                         | x 100 %            |
--------------------------------------------------------------------------------
| insurance premiums earned                               |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Expense ratio for P&C Insurance, %                      |                    |
--------------------------------------------------------------------------------
| operating expenses                                      | x 100 %            |
--------------------------------------------------------------------------------
| insurance premiums earned                               |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Combined ratio for P&C Insurance, %                     |                    |
--------------------------------------------------------------------------------
| Loss ratio + expense ratio                              |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Expense ratio for life insurance, %                     |                    |
--------------------------------------------------------------------------------
| + operating expenses before change in deferred          |                    |
| acquisition costs                                       |                    |
--------------------------------------------------------------------------------
| + claims settlement expenses                            | x 100 %            |
--------------------------------------------------------------------------------
| expense charges                                         |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Per share key figures                                   |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Earnings per share                                      |                    |
--------------------------------------------------------------------------------
| profit for the financial period attributable to the     |                    |
| parent                                                  |                    |
--------------------------------------------------------------------------------
| company's equity holders                                |                    |
--------------------------------------------------------------------------------
| adjusted average number of shares                       |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity per share                                        |                    |
--------------------------------------------------------------------------------
| equity attributable to the parent company's equity      |                    |
| holders                                                 |                    |
--------------------------------------------------------------------------------
| adjusted number of shares at the balance sheet date     |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Net asset value per share                               |                    |
--------------------------------------------------------------------------------
| + equity attributable to the parent company's equity    |                    |
| holders                                                 |                    |
--------------------------------------------------------------------------------
| + valuation differences after the deduction of deferred |                    |
| taxes                                                   |                    |
--------------------------------------------------------------------------------
| adjusted number of shares at balance sheet date         |                    |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Market capitalisation                                   |                    |
--------------------------------------------------------------------------------
| number of shares at the balance sheet date              |                    |
--------------------------------------------------------------------------------
| x closing share price at the balance sheet date         |                    |
--------------------------------------------------------------------------------



--------------------------------------------------------------------------------
| GROUP QUARTERLY INCOME |         |          |          |          |          |
| STATEMENT              |         |          |          |          |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EURm                   |    7-9/ |     4-6/ |     1-3/ |   10-12/ |     7-9/ |
|                        |    2009 |     2009 |     2009 |     2008 |     2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Insurance premiums     |     896 |    1,036 |    1,470 |      872 |      892 |
| written                |         |          |          |          |          |
--------------------------------------------------------------------------------
| Net income from        |     348 |      384 |      165 |       -6 |       37 |
| investments            |         |          |          |          |          |
--------------------------------------------------------------------------------
| Other operating income |       6 |        5 |        3 |       11 |        5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Claims incurred        |    -767 |     -729 |     -818 |     -761 |     -865 |
--------------------------------------------------------------------------------
| Change in liabilities  |     -17 |     -165 |     -390 |      367 |      443 |
| for insurance and      |         |          |          |          |          |
| investment contracts   |         |          |          |          |          |
--------------------------------------------------------------------------------
| Staff costs            |    -136 |     -125 |     -115 |     -120 |     -127 |
--------------------------------------------------------------------------------
| Other operating        |    -115 |     -122 |     -129 |     -140 |     -127 |
| expenses               |         |          |          |          |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Finance costs          |     -23 |      -21 |      -17 |      -16 |      -17 |
--------------------------------------------------------------------------------
| Share of associates'   |       0 |        0 |        0 |        0 |        0 |
| profit/loss            |         |          |          |          |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit for the period  |     192 |      264 |      169 |      206 |      242 |
| before taxes           |         |          |          |          |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Taxes                  |     -44 |      -46 |      -42 |      -53 |      -67 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit for the period  |     148 |      217 |      127 |      153 |      175 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other comprehensive    |         |          |          |          |          |
| income for the period  |         |          |          |          |          |
--------------------------------------------------------------------------------
| Exchange differences   |     102 |       17 |       10 |     -186 |      -54 |
| on translating foreign |         |          |          |          |          |
| operations             |         |          |          |          |          |
--------------------------------------------------------------------------------
| Available-for-sale     |   1,549 |    1,875 |     -247 |   -1,396 |      -36 |
| financial assets       |         |          |          |          |          |
--------------------------------------------------------------------------------
| Cash flow hedges       |       1 |       -8 |        8 |       15 |        - |
--------------------------------------------------------------------------------
| Income tax relating to |    -175 |     -143 |       42 |      -99 |       13 |
| components of other    |         |          |          |          |          |
| comprehensive income   |         |          |          |          |          |
--------------------------------------------------------------------------------
| Other comprehensive    |   1,477 |    1,741 |     -186 |   -1,665 |      -77 |
| income for the period, |         |          |          |          |          |
| net of tax             |         |          |          |          |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL COMPREHENSIVE    |   1,624 |    1,959 |      -59 |   -1,512 |       98 |
| INCOME FOR THE PERIOD, |         |          |          |          |          |
| NET OF TAX             |         |          |          |          |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit attributable to |         |          |          |          |          |
--------------------------------------------------------------------------------
|   Owners of the parent |     148 |      217 |      127 |      153 |      175 |
--------------------------------------------------------------------------------
| Non-controlling        |       0 |        0 |        0 |        0 |        0 |
| interests              |         |          |          |          |          |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total comprehensive    |         |          |          |          |          |
| income attributable to |         |          |          |          |          |
--------------------------------------------------------------------------------
|   Owners of the parent |   1,625 |    1,958 |      -59 |   -1,512 |       98 |
--------------------------------------------------------------------------------
| Non-controlling        |       0 |        0 |        0 |        0 |        0 |
| interests              |         |          |          |          |          |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| CONSOLIDATED COMPREHENSIVE INCOME       |          |            |            |
| STATEMENT                               |          |            |            |
--------------------------------------------------------------------------------
| EURm                                    |   Note   |   1-9/2009 |   1-9/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Insurance premiums written              |    1     |      3,403 |      3,478 |
--------------------------------------------------------------------------------
| Net income from investments             |    2     |        897 |        281 |
--------------------------------------------------------------------------------
| Other operating income                  |          |         14 |         12 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Claims incurred                         |    3     |     -2,314 |     -2,594 |
--------------------------------------------------------------------------------
| Change in liabilities for insurance and |          |       -572 |        300 |
| investment contracts                    |          |            |            |
--------------------------------------------------------------------------------
| Staff costs                             |    4     |       -375 |       -373 |
--------------------------------------------------------------------------------
| Other operating expenses                |          |       -365 |       -392 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Finance costs                           |          |        -62 |        -50 |
--------------------------------------------------------------------------------
| Share of associates' profit/loss        |          |          0 |          2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit before taxes                     |          |        625 |        664 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Taxes                                   |          |       -133 |       -143 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit for the period                   |          |        493 |        521 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other comprehensive income for the      |          |            |            |
| period                                  |          |            |            |
--------------------------------------------------------------------------------
| Exchange differences                    |          |        130 |        -62 |
--------------------------------------------------------------------------------
| Available-for-sale financial assets     |          |      3,178 |     -1,636 |
--------------------------------------------------------------------------------
| Cash flow hedges                        |          |          0 |          2 |
--------------------------------------------------------------------------------
| Income tax relating to components of    |          |       -276 |        432 |
| other comprehensive income              |          |            |            |
--------------------------------------------------------------------------------
| Other comprehensive income for the      |          |      3,032 |     -1,264 |
| period, net of tax                      |          |            |            |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL COMPREHENSIVE INCOME FOR THE      |          |      3,524 |       -743 |
| PERIOD                                  |          |            |            |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit attributable to                  |          |            |            |
--------------------------------------------------------------------------------
|   Owners of the parent                  |          |        493 |        521 |
--------------------------------------------------------------------------------
|   Non-controlling interests             |          |          0 |          0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total comprehensive income attributable |          |            |            |
| to                                      |          |            |            |
--------------------------------------------------------------------------------
|   Owners of the parent                  |          |      3,524 |       -743 |
--------------------------------------------------------------------------------
|   Non-controlling interests             |          |          0 |          0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Basic earnings per share (eur)          |          |       0.88 |       0.91 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| CONSOLIDATED BALANCE SHEET              |          |            |            |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EURm                                    |   Note   |     9/2009 |    12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets                                  |          |            |            |
--------------------------------------------------------------------------------
| Property, plant and equipment           |          |         35 |         38 |
--------------------------------------------------------------------------------
| Investment property                     |          |        126 |        138 |
--------------------------------------------------------------------------------
| Intangible assets                       |    5     |        688 |        663 |
--------------------------------------------------------------------------------
| Investments in associates               |          |          5 |          5 |
--------------------------------------------------------------------------------
| Financial assets                        |   6, 7   |     21,050 |     16,139 |
--------------------------------------------------------------------------------
| Investments related to unit-linked      |    8     |      2,151 |      1,637 |
| insurance contracts                     |          |            |            |
--------------------------------------------------------------------------------
| Tax assets                              |          |         67 |        156 |
--------------------------------------------------------------------------------
| Reinsurers' share of insurance          |          |        472 |        436 |
| liabilities                             |          |            |            |
--------------------------------------------------------------------------------
| Other assets                            |          |      1,605 |      1,473 |
--------------------------------------------------------------------------------
| Cash and cash equivalents               |          |        608 |        465 |
--------------------------------------------------------------------------------
| Total assets                            |          |     26,805 |     21,149 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Liabilities                             |          |            |            |
--------------------------------------------------------------------------------
| Liabilities for insurance and           |    9     |     13,130 |     12,375 |
| investment contracts                    |          |            |            |
--------------------------------------------------------------------------------
| Liabilities for unit-linked insurance   |    10    |      2,145 |      1,637 |
| and investment contracts                |          |            |            |
--------------------------------------------------------------------------------
| Financial liabilities                   |    11    |      2,072 |      1,269 |
--------------------------------------------------------------------------------
| Tax liabilities                         |          |        496 |        379 |
--------------------------------------------------------------------------------
| Provisions                              |          |         32 |         26 |
--------------------------------------------------------------------------------
| Employee benefits                       |          |        102 |         92 |
--------------------------------------------------------------------------------
| Other liabilities                       |          |      1,112 |        739 |
--------------------------------------------------------------------------------
| Total liabilities                       |          |     19,090 |     16,517 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity                                  |          |            |            |
--------------------------------------------------------------------------------
| Share capital                           |          |         98 |         98 |
--------------------------------------------------------------------------------
| Reserves                                |          |      1,530 |      1,531 |
--------------------------------------------------------------------------------
| Retained earnings                       |          |      5,667 |      5,614 |
--------------------------------------------------------------------------------
| Other components of equity              |          |        419 |     -2,612 |
--------------------------------------------------------------------------------
| Equity attributable to owners of the    |          |      7,715 |      4,631 |
| parent                                  |          |            |            |
--------------------------------------------------------------------------------
| Non-controlling interests               |          |          0 |          0 |
--------------------------------------------------------------------------------
| Total equity                            |          |      7,715 |      4,631 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total equity and liabilities            |          |     26,805 |     21,149 |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| STATEM |      |      |     |       |        |        |       |      |        |
| ENTS   |      |      |     |       |        |        |       |      |        |
| OF     |      |      |     |       |        |        |       |      |        |
| CHANGE |      |      |     |       |        |        |       |      |        |
| S IN   |      |      |     |       |        |        |       |      |        |
| EQUITY |      |      |     |       |        |        |       |      |        |
| , IFRS |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EURm   | Shar | Shar | Leg | Inves | Retain | Transl | Avail | Cash |  Total |
|        |    e |    e |  al |   ted |     ed |  ation | able- | flow |        |
|        | capi | prem | res | unres | earnin |     of | for-s | hedg |        |
|        |  tal |  ium | erv | trict |     gs | foreig |   ale | es** |        |
|        |      | acco |   e |    ed |        |      n | finan |    ) |        |
|        |      |  unt |     | equit |        | operat |  cial |      |        |
|        |      |      |     |     y |        |   ions | asset |      |        |
|        |      |      |     |       |        |        |   s*) |      |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity |   98 | 1,16 | 370 |     - |  5,862 |    -74 |   317 |    - |  7,733 |
| at 1   |      |    0 |     |       |        |        |       |      |        |
| Jan.   |      |      |     |       |        |        |       |      |        |
| 2008   |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Change |      |      |     |       |        |        |       |      |        |
| s in   |      |      |     |       |        |        |       |      |        |
| equity |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
| Share- |      |      |     |       |      2 |        |       |      |      2 |
| based  |      |      |     |       |        |        |       |      |        |
| paymen |      |      |     |       |        |        |       |      |        |
| ts     |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
| Acquis |      |      |     |       |    -52 |        |       |      |    -52 |
| ition  |      |      |     |       |        |        |       |      |        |
| of     |      |      |     |       |        |        |       |      |        |
| treasu |      |      |     |       |        |        |       |      |        |
| ry     |      |      |     |       |        |        |       |      |        |
| shares |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
| Recogn |      |      |     |       |      3 |        |       |      |        |
| ition  |      |      |     |       |        |        |       |      |        |
| of     |      |      |     |       |        |        |       |      |        |
| undraw |      |      |     |       |        |        |       |      |        |
| n      |      |      |     |       |        |        |       |      |        |
| divide |      |      |     |       |        |        |       |      |        |
| nds    |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
| Divide |      |      |     |       |   -686 |        |       |      |        |
| nds    |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
| Total         |      |     |       |    521 |    -62 | -1,20 |    1 |   -743 |
| comprehensive |      |     |       |        |        |     3 |      |        |
| income for    |      |     |       |        |        |       |      |        |
| the period    |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity |   98 | 1,16 | 370 |     - |  5,649 |   -137 |  -886 |    1 |  6,256 |
| at 30  |      |    0 |     |       |        |        |       |      |        |
| Septem |      |      |     |       |        |        |       |      |        |
| ber    |      |      |     |       |        |        |       |      |        |
| 2008   |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity |   98 | 1,16 | 370 |     - |  5,614 |   -249 | -2,37 |   11 |  4,631 |
| at     |      |    1 |     |       |        |        |     5 |      |        |
| Jan.   |      |      |     |       |        |        |       |      |        |
| 2009   |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Change |      |      |     |       |        |        |       |      |        |
| s in   |      |      |     |       |        |        |       |      |        |
| equity |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
| Transf |      | -1,1 | -36 | 1,527 |        |        |       |      |     -1 |
| ers    |      |   61 |   6 |       |        |        |       |      |        |
| betwee |      |      |     |       |        |        |       |      |        |
| n      |      |      |     |       |        |        |       |      |        |
| equity |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
| Share- |      |      |     |       |     -2 |        |       |      |     -2 |
| based  |      |      |     |       |        |        |       |      |        |
| paymen |      |      |     |       |        |        |       |      |        |
| ts     |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
| Recogn |      |      |     |       |     11 |        |       |      |     11 |
| ition  |      |      |     |       |        |        |       |      |        |
| of     |      |      |     |       |        |        |       |      |        |
| undraw |      |      |     |       |        |        |       |      |        |
| n      |      |      |     |       |        |        |       |      |        |
| divide |      |      |     |       |        |        |       |      |        |
| nds    |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
| Divide |      |      |     |       |   -449 |        |       |      |   -449 |
| nds    |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
| Total         |      |     |       |    493 |    130 | 2,902 |    0 |  3,524 |
| comprehensive |      |     |       |        |        |       |      |        |
| income for    |      |     |       |        |        |       |      |        |
| the period    |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity |   98 |    0 |   4 | 1,527 |  5,667 |   -119 |   527 |   11 |  7,715 |
| at 30  |      |      |     |       |        |        |       |      |        |
| Septem |      |      |     |       |        |        |       |      |        |
| ber    |      |      |     |       |        |        |       |      |        |
| 2009   |      |      |     |       |        |        |       |      |        |
--------------------------------------------------------------------------------




*) The amount recognised in equity from available-for-sale financial assets for 
the period totalled EURm 2,851 (-1,219).  The amount transferred to p/l amounted
to EURm 50 (16).  									                                                     
**) The amount recognised in equity from cash flow hedges for the period        
totalled EURm 0 (1). 									                                                  
The amount included in the translation, available-for-sale and cash flow hedge  
reserves represent other comprehensive income for each component, net of tax. 	 

--------------------------------------------------------------------------------
| STATEMENT OF CASH FLOWS                         |             |              |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|                                                 |    1-9/2009 |     1-9/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Cash and cash equivalent at the beginning of    |         499 |          971 |
| the period                                      |             |              |
--------------------------------------------------------------------------------
| Cash flow from/used in operating activities     |       1,257 |          503 |
--------------------------------------------------------------------------------
| Cash flow from/used in investing activities     |      -1,700 |         -300 |
--------------------------------------------------------------------------------
| Cash flow from/used in financing activities     |         531 |         -730 |
--------------------------------------------------------------------------------
|    Dividends paid                               |        -443 |         -678 |
--------------------------------------------------------------------------------
|    Acquisition of own shares                    |           - |          -52 |
--------------------------------------------------------------------------------
|    Increase of liabilities                      |       1,497 |            - |
--------------------------------------------------------------------------------
|    Decrease of liabilities                      |        -522 |            - |
--------------------------------------------------------------------------------
| Cash and cash equivalent at the end of the      |         588 |          445 |
| period                                          |             |              |
--------------------------------------------------------------------------------


The cash flow statement reports cash flows during the period classified by      
operating, investing and financing activities. Cash flows are reported by using 
the indirect method. Cash flows from operating activities derive primarily from 
the principal revenue-producing activities. Cash flows from investments in      
subsidiaries and associated undertakings and those from investments in          
intangible assets and property, 	plant and equipment are presented in investing 
activities. Financing activities include cash flows resulting from changes in   
equity and borrowings in order to conduct the business. Cash and cash           
equivalents consist of cash at bank and in hand and short-term deposits (under 3
months).	                                                                       


NOTES						                                                                     
ACCOUNTING POLICIES						                                                       
Sampo Group's consolidated financial statements are prepared in accordance with 
the International Financial Reporting Standards (IFRS) adopted by the EU. The   
interim financial statements are presented in accordance with IAS 34 Interim    
Financial Reporting. In preparing the interim financial statements, the same    
accounting policies and methods of computation are applied as in the financial  
statements for 2008. 						                                                     
Sampo adopted various new or revised standards and interpretations at the       
beginning of the year 2009. These standards and interpretations are explained in
Sampos accounting policies for the financial year 2008. The financial statements
are available on Sampo's website at www.sampo.com/ir.						                     
The revised IAS 1 Presentation of Financial Statements changed the presentation 
of the income statement and the statement of changes in equity, and the used    
terminology. Only the transactions with the owners and potential 	changes in    
accounting policies as well as error corrections are presented in the statement 
of changes in equity.						                                                     
Non-owner transactions are presented in the statement of comprehensive income.  
These transactions show only as a total sum in the statement of changes in      
equity.						                                                                   
IFRS 8 Operating Segments changed the segment reporting by requiring the        
reported segment information to be based on the information reported to the     
management, and to comply with those accounting policies. The adoption of the   
standard did not have a material effect on Sampo's segment reporting, as the    
segment information published previously has already been based on the Group's  
internal reporting structure.	

--------------------------------------------------------------------------------
| CONSOLIDATED INCOME   |           |           |         |          |         |
| STATEMENT BY SEGMENT  |           |           |         |          |         |
| FOR NINE MONTHS ENDED |           |           |         |          |         |
| 30 SEPTEMBER 2009     |           |           |         |          |         |
--------------------------------------------------------------------------------
| EURm                  |       P&C |      Life | Holding | Elimina- |   Group |
|                       | insurance | insurance |         |     tion |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Insurance premius     |     2,889 |       513 |       - |        - |   3,403 |
| written               |           |           |         |          |         |
--------------------------------------------------------------------------------
| Net income from       |       284 |       495 |      93 |       25 |     897 |
| investments           |           |           |         |          |         |
--------------------------------------------------------------------------------
| Other operating       |        17 |         0 |       9 |      -12 |      14 |
| income                |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Claims incurred       |    -1,847 |      -466 |       - |        - |  -2,314 |
--------------------------------------------------------------------------------
| Change in liabilities |      -177 |      -395 |       - |        - |    -572 |
| for insurance and     |           |           |         |          |         |
| investment contracts  |           |           |         |          |         |
--------------------------------------------------------------------------------
| Staff costs           |      -347 |       -20 |      -8 |        - |    -375 |
--------------------------------------------------------------------------------
| Other operating       |      -321 |       -37 |     -14 |        6 |    -365 |
| expenses              |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Finance costs         |       -22 |        -6 |     -39 |        6 |     -62 |
--------------------------------------------------------------------------------
| Share of associates'  |         0 |         0 |       - |        - |       0 |
| profit/loss           |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit before taxes   |       476 |        85 |      41 |       24 |     625 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Taxes                 |           |           |         |          |    -133 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit for the period |           |           |         |          |     493 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other comprehensive   |           |           |         |          |         |
| income for the period |           |           |         |          |         |
--------------------------------------------------------------------------------
| Exchange differences  |           |           |         |          |     130 |
--------------------------------------------------------------------------------
| Available-for-sale    |           |           |         |          |   3,178 |
| financial assets      |           |           |         |          |         |
--------------------------------------------------------------------------------
| Cash flow hedges      |           |           |         |          |       0 |
--------------------------------------------------------------------------------
| Income tax relating   |           |           |         |          |    -276 |
| to components of      |           |           |         |          |         |
| other comprehensive   |           |           |         |          |         |
| income                |           |           |         |          |         |
--------------------------------------------------------------------------------
| Other comprehensive   |           |           |         |          |   3,032 |
| income for the        |           |           |         |          |         |
| period, net of tax    |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL COMPREHENSIVE   |           |           |         |          |   3,524 |
| INCOME FOR THE PERIOD |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit attributable   |           |           |         |          |         |
| to                    |           |           |         |          |         |
--------------------------------------------------------------------------------
|  Owners of the parent |           |           |         |          |     493 |
--------------------------------------------------------------------------------
| Non-controlling       |           |           |         |          |       0 |
| interests             |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total comprehensive   |           |           |         |          |         |
| income attributable   |           |           |         |          |         |
| to                    |           |           |         |          |         |
--------------------------------------------------------------------------------
|  Owners of the parent |           |           |         |          |   3,524 |
--------------------------------------------------------------------------------
| Non-controlling       |           |           |         |          |       0 |
| interests             |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| CONSOLIDATED INCOME   |           |           |         |          |         |
| STATEMENT BY SEGMENT  |           |           |         |          |         |
| FOR NINE MONTHS ENDED |           |           |         |          |         |
| 30 SEPTEMBER 2008     |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EURm                  |       P&C |      Life | Holding | Elimina- |   Group |
|                       | insurance | insurance |         |     tion |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Insurance premius     |     3,096 |       381 |       - |        - |   3,478 |
| written               |           |           |         |          |         |
--------------------------------------------------------------------------------
| Net income from       |       180 |       -94 |     198 |       -2 |     281 |
| investments           |           |           |         |          |         |
--------------------------------------------------------------------------------
| Other operating       |        20 |         0 |       4 |      -11 |      12 |
| income                |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Claims incurred       |    -1,971 |      -623 |       - |        - |  -2,594 |
--------------------------------------------------------------------------------
| Change in liabilities |      -212 |       512 |       - |        - |     300 |
| for insurance and     |           |           |         |          |         |
| investment contracts  |           |           |         |          |         |
--------------------------------------------------------------------------------
| Staff costs           |      -346 |       -17 |      -9 |        - |    -373 |
--------------------------------------------------------------------------------
| Other operating       |      -352 |       -36 |     -10 |        6 |    -392 |
| expenses              |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Finance costs         |       -22 |        -9 |     -27 |        7 |     -50 |
--------------------------------------------------------------------------------
| Share of associates'  |         2 |         0 |       0 |        - |       2 |
| profit/loss           |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit before taxes   |       395 |       114 |     155 |        1 |     664 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Taxes                 |           |           |         |          |    -143 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit for the period |           |           |         |          |     521 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other comprehensive   |           |           |         |          |         |
| income for the period |           |           |         |          |         |
--------------------------------------------------------------------------------
| Exchange differences  |           |           |         |          |     -62 |
--------------------------------------------------------------------------------
| Available-for-sale    |           |           |         |          |  -1,636 |
| financial assets      |           |           |         |          |         |
--------------------------------------------------------------------------------
| Cash flow hedges      |           |           |         |          |       2 |
--------------------------------------------------------------------------------
| Income tax relating   |           |           |         |          |     432 |
| to components of      |           |           |         |          |         |
| other comprehensive   |           |           |         |          |         |
| income                |           |           |         |          |         |
--------------------------------------------------------------------------------
| Other comprehensive   |           |           |         |          |  -1,264 |
| income for the        |           |           |         |          |         |
| period, net of tax    |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL COMPREHENSIVE   |           |           |         |          |    -743 |
| INCOME FOR THE PERIOD |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Profit attributable   |           |           |         |          |         |
| to                    |           |           |         |          |         |
--------------------------------------------------------------------------------
|  Owners of the parent |           |           |         |          |     521 |
--------------------------------------------------------------------------------
| Non-controlling       |           |           |         |          |       0 |
| interests             |           |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total comprehensive   |           |           |         |          |         |
| income attributable   |           |           |         |          |         |
| to                    |           |           |         |          |         |
--------------------------------------------------------------------------------
|  Owners of the parent |           |           |         |          |    -743 |
--------------------------------------------------------------------------------
| Non-controlling       |           |           |         |          |       0 |
| interests             |           |           |         |          |         |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| CONSOLIDATED BALANCE   |          |           |         |          |         |
| SHEET BY SEGMENT AT 30 |          |           |         |          |         |
| SEPTEMBER 2009         |          |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EURm                   |      P&C |      Life | Holding | Elimina- |   Group |
|                        | insuranc | insurance |         |     tion |         |
|                        |        e |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets                 |          |           |         |          |         |
--------------------------------------------------------------------------------
| Property, plant and    |       24 |         5 |       5 |        - |      35 |
| equipment              |          |           |         |          |         |
--------------------------------------------------------------------------------
| Investment property    |       28 |        88 |      10 |        - |     126 |
--------------------------------------------------------------------------------
| Intangible assets      |      520 |       167 |       0 |        - |     688 |
--------------------------------------------------------------------------------
| Investments in         |        3 |         2 |       - |        - |       5 |
| associates             |          |           |         |          |         |
--------------------------------------------------------------------------------
| Financial assets       |   10,450 |     5,109 |   8,001 |   -2,511 |  21,050 |
--------------------------------------------------------------------------------
| Investments related to |        - |     2,151 |       - |        - |   2,151 |
| unit-linked insurance  |          |           |         |          |         |
| contracts              |          |           |         |          |         |
--------------------------------------------------------------------------------
| Tax assets             |       58 |         - |       9 |        0 |      67 |
--------------------------------------------------------------------------------
| Reinsurers' share of   |      467 |         4 |       - |        - |     472 |
| insurance liabilities  |          |           |         |          |         |
--------------------------------------------------------------------------------
| Other assets           |    1,378 |       202 |      60 |      -35 |   1,605 |
--------------------------------------------------------------------------------
| Cash and cash          |      442 |        43 |     123 |        - |     608 |
| equivalents            |          |           |         |          |         |
--------------------------------------------------------------------------------
| Total assets           |   13,371 |     7,771 |   8,208 |   -2,546 |  26,805 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Liabilities            |          |           |         |          |         |
--------------------------------------------------------------------------------
| Liabilities for        |    8,701 |     4,429 |       - |        - |  13,130 |
| insurance and          |          |           |         |          |         |
| investment contracts   |          |           |         |          |         |
--------------------------------------------------------------------------------
| Liabilities for        |        - |     2,145 |       - |        - |   2,145 |
| unit-linked insurance  |          |           |         |          |         |
| and investment         |          |           |         |          |         |
| contracts              |          |           |         |          |         |
--------------------------------------------------------------------------------
| Financial liabilities  |      516 |       107 |   1,588 |     -139 |   2,072 |
--------------------------------------------------------------------------------
| Tax liabilities        |      395 |       101 |       - |        - |     496 |
--------------------------------------------------------------------------------
| Provisions             |       32 |         - |       - |        - |      32 |
--------------------------------------------------------------------------------
| Employee benefits      |      102 |         - |       - |        - |     102 |
--------------------------------------------------------------------------------
| Other liabilities      |      878 |       186 |      82 |      -35 |   1,112 |
--------------------------------------------------------------------------------
| Total liabilities      |   10,624 |     6,969 |   1,670 |     -173 |  19,090 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity                 |          |           |         |          |         |
--------------------------------------------------------------------------------
| Share capital          |          |           |         |          |      98 |
--------------------------------------------------------------------------------
| Reserves               |          |           |         |          |   1,530 |
--------------------------------------------------------------------------------
| Retained earnings      |          |           |         |          |   5,667 |
--------------------------------------------------------------------------------
| Other components of    |          |           |         |          |     419 |
| equity                 |          |           |         |          |         |
--------------------------------------------------------------------------------
| Equity attributable to |          |           |         |          |   7,715 |
| owners of the parent   |          |           |         |          |         |
--------------------------------------------------------------------------------
| Non-controlling        |          |           |         |          |       0 |
| interests              |          |           |         |          |         |
--------------------------------------------------------------------------------
| Total equity           |          |           |         |          |   7,715 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total equity and       |          |           |         |          |  26,805 |
| liabilities            |          |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| CONSOLIDATED BALANCE   |          |           |         |          |         |
| SHEET BY SEGMENT AT 31 |          |           |         |          |         |
| DECEMBER 2008          |          |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| EURm                   |      P&C |      Life | Holding | Elimina- |   Group |
|                        | insuranc | insurance |         |     tion |         |
|                        |        e |           |         |          |         |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets                 |          |           |         |          |         |
--------------------------------------------------------------------------------
| Property, plant and    |       27 |         5 |       5 |        - |      38 |
| equipment              |          |           |         |          |         |
--------------------------------------------------------------------------------
| Investment property    |       28 |       100 |      10 |        - |     138 |
--------------------------------------------------------------------------------
| Intangible assets      |      495 |       167 |       0 |        - |     663 |
--------------------------------------------------------------------------------
| Investments in         |        3 |         2 |       0 |        - |       5 |
| associates             |          |           |         |          |         |
--------------------------------------------------------------------------------
| Financial assets       |    8,874 |     4,503 |   5,260 |   -2,498 |  16,139 |
--------------------------------------------------------------------------------
| Investments related to |        - |     1,637 |       - |        - |   1,637 |
| unit-linked insurance  |          |           |         |          |         |
| contracts              |          |           |         |          |         |
--------------------------------------------------------------------------------
| Tax assets             |      144 |         8 |       4 |        0 |     156 |
--------------------------------------------------------------------------------
| Reinsurers' share of   |      431 |         4 |       - |        - |     436 |
| insurance liabilities  |          |           |         |          |         |
--------------------------------------------------------------------------------
| Other assets           |    1,176 |       270 |      54 |      -27 |   1,473 |
--------------------------------------------------------------------------------
| Cash and cash          |      259 |       171 |      35 |        - |     465 |
| equivalents            |          |           |         |          |         |
--------------------------------------------------------------------------------
| Total assets           |   11,437 |     6,868 |   5,370 |   -2,525 |  21,149 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Liabilities            |          |           |         |          |         |
--------------------------------------------------------------------------------
| Liabilities for        |    7,889 |     4,487 |       - |        - |  12,375 |
| insurance and          |          |           |         |          |         |
| investment contracts   |          |           |         |          |         |
--------------------------------------------------------------------------------
| Liabilities for        |        - |     1,637 |       - |        - |   1,637 |
| unit-linked insurance  |          |           |         |          |         |
| and investment         |          |           |         |          |         |
| contracts              |          |           |         |          |         |
--------------------------------------------------------------------------------
| Financial liabilities  |      686 |       104 |     604 |     -125 |   1,269 |
--------------------------------------------------------------------------------
| Tax liabilities        |      379 |         - |       - |        - |     379 |
--------------------------------------------------------------------------------
| Provisions             |       26 |         - |       - |        - |      26 |
--------------------------------------------------------------------------------
| Employee benefits      |       92 |         - |       - |        - |      92 |
--------------------------------------------------------------------------------
| Other liabilities      |      444 |       242 |      80 |      -27 |     739 |
--------------------------------------------------------------------------------
| Total liabilities      |    9,516 |     6,469 |     686 |     -152 |  16,517 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Equity                 |          |           |         |          |         |
--------------------------------------------------------------------------------
| Share capital          |          |           |         |          |      98 |
--------------------------------------------------------------------------------
| Reserves               |          |           |         |          |   1,531 |
--------------------------------------------------------------------------------
| Retained earnings      |          |           |         |          |   5,614 |
--------------------------------------------------------------------------------
| Other components of    |          |           |         |          |  -2,512 |
| equity                 |          |           |         |          |         |
--------------------------------------------------------------------------------
| Equity attributable to |          |           |         |          |   4,631 |
| owners of the parent   |          |           |         |          |         |
--------------------------------------------------------------------------------
| Non-controlling        |          |           |         |          |       0 |
| interests              |          |           |         |          |         |
--------------------------------------------------------------------------------
| Total equity           |          |           |         |          |   4,631 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total equity and       |          |           |         |          |  21,149 |
| liabilities            |          |           |         |          |         |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| OTHER NOTES                                   |              |               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 1 INSURANCE PREMIUMS                          |              |               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C insurance                                 |              |               |
--------------------------------------------------------------------------------
|                                               |     1-9/2009 |      1-9/2008 |
--------------------------------------------------------------------------------
| Premiums from insurance contracts             |              |               |
--------------------------------------------------------------------------------
| Premiums written, direct insurance            |        3,002 |         3,241 |
--------------------------------------------------------------------------------
| Premiums written, assumed reinsurance         |           81 |            76 |
--------------------------------------------------------------------------------
| Premiums written, gross                       |        3,083 |         3,317 |
--------------------------------------------------------------------------------
| Ceded reinsurance premiums written            |         -194 |          -220 |
--------------------------------------------------------------------------------
| P&C Insurance, total                          |        2,889 |         3,096 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Change in unearned premium provision          |         -211 |          -250 |
--------------------------------------------------------------------------------
| Reinsurers' share                             |           34 |            38 |
--------------------------------------------------------------------------------
| Premiums earned for P&C Insurance, total      |        2,712 |         2,884 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance                                |              |               |
--------------------------------------------------------------------------------
|                                               |     1-9/2009 |      1-9/2008 |
--------------------------------------------------------------------------------
| Premiums from insurance contracts             |              |               |
--------------------------------------------------------------------------------
| Premiums from contracts with discretionary    |          157 |           135 |
| participation feature                         |              |               |
--------------------------------------------------------------------------------
| Premiums from unit-linked contracts           |          173 |           181 |
--------------------------------------------------------------------------------
| Premiums from other contracts                 |            3 |             3 |
--------------------------------------------------------------------------------
| Insurance contracts, total                    |          333 |           319 |
--------------------------------------------------------------------------------
| Assumed reinsurance                           |            2 |             0 |
--------------------------------------------------------------------------------
| Premiums from investment contracts            |              |               |
--------------------------------------------------------------------------------
| Premiums from contracts with discretionary    |            3 |            38 |
| participation feature                         |              |               |
--------------------------------------------------------------------------------
| Premiums from unit-linked contracts           |          182 |            31 |
--------------------------------------------------------------------------------
| Investment contracts, total                   |          185 |            69 |
--------------------------------------------------------------------------------
| Reinsurers' shares                            |           -6 |            -7 |
--------------------------------------------------------------------------------
| Life insurance, total                         |          513 |           381 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Single and regular premiums from direct       |              |               |
| insurance                                     |              |               |
--------------------------------------------------------------------------------
| Regular premiums, insurance contracts         |          256 |           268 |
--------------------------------------------------------------------------------
| Single premiums, insurance contracts          |           77 |            51 |
--------------------------------------------------------------------------------
| Single premiums, investment contracts         |          185 |            69 |
--------------------------------------------------------------------------------
| Total                                         |          518 |           388 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total                                  |        3,403 |         3,478 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 2 NET INCOME FROM INVESTMENTS                 |              |               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C Insurance                                 |              |               |
--------------------------------------------------------------------------------
|                                               |     1-9/2009 |      1-9/2008 |
--------------------------------------------------------------------------------
| Financial assets                              |              |               |
--------------------------------------------------------------------------------
| Derivative financial instruments              |           34 |            55 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financial assets designated as at fair value  |              |               |
| through p/l                                   |              |               |
--------------------------------------------------------------------------------
|     Debt securities                           |           25 |            56 |
--------------------------------------------------------------------------------
|     Equity securities                         |           10 |          -129 |
--------------------------------------------------------------------------------
| Total                                         |           34 |           -73 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Loans and receivables                         |           11 |            22 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financial asset available-for-sale            |              |               |
--------------------------------------------------------------------------------
|     Debt securities                           |          275 |           226 |
--------------------------------------------------------------------------------
|     Equity securities                         |          -20 |            11 |
--------------------------------------------------------------------------------
| Total                                         |          255 |           237 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total financial assets                        |          335 |           242 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Income from other assets                      |            0 |             1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Fee and commission expense                    |           -4 |            -7 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Interest expense on repurchase agreements     |            - |            -9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Expense on other than financial liabilities   |           -2 |            -1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Effect of discounting annuities               |          -45 |           -45 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C insurance, total                          |          284 |           180 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance                                |              |               |
--------------------------------------------------------------------------------
|                                               |     1-9/2009 |      1-9/2008 |
--------------------------------------------------------------------------------
| Financial assets                              |              |               |
--------------------------------------------------------------------------------
| Derivative financial instruments              |           52 |            20 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financial assets designated as at fair value  |              |               |
| through p/l                                   |              |               |
--------------------------------------------------------------------------------
|     Debt securities                           |            4 |            -3 |
--------------------------------------------------------------------------------
|     Equity securities                         |            0 |            -1 |
--------------------------------------------------------------------------------
| Total                                         |            4 |            -4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Investments related to unit-linked contracts  |              |               |
--------------------------------------------------------------------------------
|     Debt securities                           |           33 |            -1 |
--------------------------------------------------------------------------------
|     Equity securities                         |          254 |          -329 |
--------------------------------------------------------------------------------
|     Other                                     |            2 |             - |
--------------------------------------------------------------------------------
| Total                                         |          290 |          -330 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Investment securities held-to-maturity        |              |               |
--------------------------------------------------------------------------------
|     Debt securities                           |            0 |             0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Loans and receivables                         |            4 |            -1 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financial asset available-for-sale            |              |               |
--------------------------------------------------------------------------------
|     Debt securities                           |          141 |           105 |
--------------------------------------------------------------------------------
|     Equity securities                         |          -19 |           100 |
--------------------------------------------------------------------------------
| Total                                         |          122 |           206 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Total income from financial assets            |          473 |          -108 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other assets                                  |           20 |             5 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Fee and commission income, net                |            3 |             9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance, total                         |          495 |           -94 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Holding                                       |              |               |
--------------------------------------------------------------------------------
|                                               |     1-9/2009 |      1-9/2008 |
--------------------------------------------------------------------------------
| Financial assets                              |              |               |
--------------------------------------------------------------------------------
| Derivative financial instruments              |            9 |            -3 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Loans and other receivables                   |            1 |            11 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Financial assets available-for-sale           |              |               |
--------------------------------------------------------------------------------
|     Debt securities                           |           13 |            64 |
--------------------------------------------------------------------------------
|     Equity securities                         |           61 |           133 |
--------------------------------------------------------------------------------
| Total                                         |           74 |           197 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other assets                                  |            9 |            -8 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Fee expense                                   |            0 |             - |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Holding, total                                |           93 |           198 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Elimination items between segments            |           25 |            -2 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total                                  |          897 |           281 |
--------------------------------------------------------------------------------
|                                               |              |               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 3  CLAIMS INCURRED                            |              |               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C insurance                                 |     1-9/2009 |      1-9/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Claims paid                                   |       -1,773 |        -1,866 |
--------------------------------------------------------------------------------
| Reinsurers' share                             |           87 |            92 |
--------------------------------------------------------------------------------
| Claims paid, net                              |       -1,687 |        -1,774 |
--------------------------------------------------------------------------------
| Change in provision for claims outstanding    |         -133 |          -208 |
--------------------------------------------------------------------------------
| Reinsurers' share                             |          -28 |            12 |
--------------------------------------------------------------------------------
| P&C Insurance total                           |       -1,847 |        -1,971 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance                                |     1-9/2009 |      1-9/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Claims paid                                   |         -413 |          -480 |
--------------------------------------------------------------------------------
| Reinsurers' share                             |            4 |             5 |
--------------------------------------------------------------------------------
| Claims paid, net                              |         -409 |          -476 |
--------------------------------------------------------------------------------
| Change in provision for claims outstanding    |          -57 |          -148 |
--------------------------------------------------------------------------------
| Reinsurers' share                             |            0 |             1 |
--------------------------------------------------------------------------------
| Life insurance, total                         |         -466 |          -623 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total                                  |       -2,314 |        -2,594 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 4 STAFF COSTS                                 |              |               |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C insurance                                 |     1-9/2009 |      1-9/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Wages and salaries                            |         -245 |          -246 |
--------------------------------------------------------------------------------
| Granted equity-settled share options          |            0 |            -1 |
--------------------------------------------------------------------------------
| Granted cash-settled share options            |            0 |            -2 |
--------------------------------------------------------------------------------
| Pension costs                                 |          -56 |           -49 |
--------------------------------------------------------------------------------
| Other social security costs                   |          -46 |           -49 |
--------------------------------------------------------------------------------
| P&C insurance, total                          |         -347 |          -346 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance                                |     1-9/2009 |      1-9/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Wages and salaries                            |          -16 |           -14 |
--------------------------------------------------------------------------------
| Granted equity-settled share options          |            0 |             0 |
--------------------------------------------------------------------------------
| Granted cash-settled share options            |           -1 |             0 |
--------------------------------------------------------------------------------
| Pension costs                                 |           -3 |            -2 |
--------------------------------------------------------------------------------
| Other social security costs                   |           -1 |            -1 |
--------------------------------------------------------------------------------
| Life insurance, total                         |          -20 |           -17 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Holding                                       |     1-9/2009 |      1-9/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Wages and salaries                            |           -6 |            -5 |
--------------------------------------------------------------------------------
| Granted equity-settled share options          |            1 |            -1 |
--------------------------------------------------------------------------------
| Granted cash-settled share options            |           -1 |            -1 |
--------------------------------------------------------------------------------
| Pension costs                                 |           -2 |            -2 |
--------------------------------------------------------------------------------
| Other social security costs                   |            0 |            -1 |
--------------------------------------------------------------------------------
| Holding, total                                |           -8 |            -9 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total                                  |         -375 |          -373 |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| 5 INTANGIBLE ASSETS                               |            |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C insurance                                     |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Goodwill                                          |        507 |         479 |
--------------------------------------------------------------------------------
| Customer relations                                |          8 |          13 |
--------------------------------------------------------------------------------
| Other intangible assets                           |          5 |           4 |
--------------------------------------------------------------------------------
| P&C Insurance, total                              |        520 |         495 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance                                    |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Goodwill                                          |        153 |         153 |
--------------------------------------------------------------------------------
| Other intangible assets                           |         14 |          14 |
--------------------------------------------------------------------------------
| Life insurance, total                             |        167 |         167 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Holding                                           |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other intangible assets                           |          0 |           0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total                                      |        688 |         663 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 6 FINANCIAL ASSETS                                |            |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C insurance                                     |            |             |
--------------------------------------------------------------------------------
|                                                   |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Derivative financial instruments (Note 7)         |        176 |         362 |
--------------------------------------------------------------------------------
| Financial assets designated as at fair value      |            |             |
| through p/l                                       |            |             |
--------------------------------------------------------------------------------
|    Debt securities                                |        173 |         333 |
--------------------------------------------------------------------------------
|    Equity securities                              |         27 |          22 |
--------------------------------------------------------------------------------
| Total                                             |        200 |         355 |
--------------------------------------------------------------------------------
| Loans and receivables                             |            |             |
--------------------------------------------------------------------------------
|    Loans                                          |          2 |           0 |
--------------------------------------------------------------------------------
|    Deposits with ceding undertakings              |          1 |           1 |
--------------------------------------------------------------------------------
| Total                                             |          3 |           1 |
--------------------------------------------------------------------------------
| Financial assets available-for-sale               |            |             |
--------------------------------------------------------------------------------
|    Debt securities                                |      9,029 |       7,671 |
--------------------------------------------------------------------------------
|    Equity securities                              |      1,042 |         484 |
--------------------------------------------------------------------------------
| Total                                             |     10,072 |       8,155 |
--------------------------------------------------------------------------------| P&C insurance, total                              |     10,450 |       8,874 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance                                    |            |             |
--------------------------------------------------------------------------------
|                                                   |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Derivative financial instruments (Note 7)         |         77 |         108 |
--------------------------------------------------------------------------------
| Financial assets designated as at fair value      |            |             |
| through p/l                                       |            |             |
--------------------------------------------------------------------------------
|    Debt securities                                |         39 |          40 |
--------------------------------------------------------------------------------
|    Equity securities                              |          4 |           1 |
--------------------------------------------------------------------------------
| Total                                             |         44 |          41 |
--------------------------------------------------------------------------------
| Investments held-to-maturity                      |            |             |
--------------------------------------------------------------------------------
|    Debt securities                                |          - |           1 |
--------------------------------------------------------------------------------
| Loans and receivables                             |            |             |
--------------------------------------------------------------------------------
|    Loans                                          |         20 |           4 |
--------------------------------------------------------------------------------
|    Deposits with ceding undertakings              |          1 |           2 |
--------------------------------------------------------------------------------
| Total                                             |         22 |           5 |
--------------------------------------------------------------------------------
| Financial assets available-for-sale               |            |             |
--------------------------------------------------------------------------------
|    Debt securities                                |      3,495 |       3,173 |
--------------------------------------------------------------------------------
|    Equity securities *)                           |      1,472 |       1,175 |
--------------------------------------------------------------------------------
| Total                                             |      4,967 |       4,348 |
--------------------------------------------------------------------------------
| Life insurance, total                             |      5,109 |       4,503 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| *) of which investments in interest funds         |        149 |         213 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Holding                                           |            |             |
--------------------------------------------------------------------------------
|                                                   |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Derivative financial instruments (Note 7)         |          9 |           0 |
--------------------------------------------------------------------------------
| Loans and receivables                             |            |             |
--------------------------------------------------------------------------------
|    Deposits                                       |          1 |           1 |
--------------------------------------------------------------------------------
| Financial assets available-for-sale               |            |             |
--------------------------------------------------------------------------------
|    Debt securities                                |        102 |       1,184 |
--------------------------------------------------------------------------------
|    Equity securities                              |      5,520 |       1,705 |
--------------------------------------------------------------------------------
| Total                                             |      5,622 |       2,890 |
--------------------------------------------------------------------------------
| Investments in subsidiaries                       |      2,370 |       2,370 |
--------------------------------------------------------------------------------
| Holding, total                                    |      8,001 |       5,260 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Elimination items between segments                |     -2,511 |      -2,498 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total                                      |     21,050 |      16,139 |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| 7 DERIVATIVE |         |        |           |          |         |           |
| FINANCIAL    |         |        |           |          |         |           |
| INSTRUMENTS  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C          |         | 9/2009 |           |          | 12/2008 |           |
| insurance    |         |        |           |          |         |           |
--------------------------------------------------------------------------------
|              |         |   Fair |      Fair |          |    Fair |      Fair |
|              |         |  value |     value |          |   value |     value |
--------------------------------------------------------------------------------
|              | Contrac | Assets | Liabiliti | Contract |  Assets | Liabiliti |
|              |      t/ |        |        es |        / |         |        es |
|              | notiona |        |           | notional |         |           |
|              |       l |        |           |   amount |         |           |
|              |  amount |        |           |          |         |           |
--------------------------------------------------------------------------------
| Derivatives  |         |        |           |          |         |           |
| held for     |         |        |           |          |         |           |
| trading      |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Interest     |     369 |     18 |         4 |       78 |      19 |         4 |
| rate         |         |        |           |          |         |           |
| derivatives  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Foreign      |   3,592 |    158 |        76 |    4,977 |     343 |       247 || exchange     |         |        |           |          |         |           |
| derivatives  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Equity       |       1 |      - |         0 |        0 |       0 |         0 |
| derivatives  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Total        |   3,962 |    176 |        80 |    5,055 |     362 |       251 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Derivatives  |         |        |           |          |         |           |
| held for     |         |        |           |          |         |           |
| hedging      |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Fair value   |     192 |      - |         0 |        - |       - |         - |
| hedges       |         |        |           |          |         |           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C          |   4,153 |    176 |        80 |    5,055 |     362 |       251 |
| Insurance,   |         |        |           |          |         |           |
| total        |         |        |           |          |         |           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life         |         | 9/2009 |           |          | 12/2008 |           |
| insurance    |         |        |           |          |         |           |
--------------------------------------------------------------------------------
|              |         |   Fair |      Fair |          |    Fair |      Fair |
|              |         |  value |     value |          |   value |     value |
--------------------------------------------------------------------------------
|              | Contrac | Assets | Liabiliti | Contract |  Assets | Liabiliti |
|              |      t/ |        |        es |        / |         |        es |
|              | notiona |        |           | notional |         |           |
|              |       l |        |           |   amount |         |           |
|              |  amount |        |           |          |         |           |
--------------------------------------------------------------------------------
| Derivatives  |         |        |           |          |         |           |
| held for     |         |        |           |          |         |           |
| trading      |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Interest     |   1,146 |     48 |         5 |    1,062 |      58 |         0 |
| rate         |         |        |           |          |         |           |
| derivatives  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Foreign      |     699 |      9 |         2 |      704 |      17 |         4 |
| exchange     |         |        |           |          |         |           |
| derivatives  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Equity       |       9 |      0 |         0 |        - |       - |         - |
| derivatives  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Commodity    |      10 |      - |         0 |        - |       - |         - |
| derivatives  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Total        |   1,864 |     57 |         7 |    1,766 |      75 |         4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Derivatives  |         |        |           |          |         |           |
| held for     |         |        |           |          |         |           |
| hedging      |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Cash flow    |     365 |     15 |         - |      829 |      15 |         - |
| hedges       |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Fair value   |     164 |      5 |         - |      226 |      18 |         - |
| hedges       |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Total        |     528 |     20 |         - |    1,055 |      33 |         - |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life         |   2,392 |     77 |         7 |    2,821 |     108 |         4 |
| insurance,   |         |        |           |          |         |           |
| total        |         |        |           |          |         |           |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Holding      |         | 9/2009 |           |          | 12/2008 |           |
--------------------------------------------------------------------------------
|              |         |   Fair |      Fair |          |    Fair |      Fair |
|              |         |  value |     value |          |   value |     value |
--------------------------------------------------------------------------------
|              | Contrac | Assets | Liabiliti | Contract |  Assets | Liabiliti |
|              |      t/ |        |        es |        / |         |        es |
|              | notiona |        |           | notional |         |           |
|              |       l |        |           |   amount |         |           |
|              |  amount |        |           |          |         |           |
--------------------------------------------------------------------------------
| Derivatives  |         |        |           |          |         |           |
| held for     |         |        |           |          |         |           |
| trading      |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Interest     |     750 |      5 |         - |        - |       - |         - |
| rate         |         |        |           |          |         |           |
| derivatives  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Exchange     |       - |      - |         - |       70 |       0 |         0 |
| derivatives  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Equity       |      11 |      1 |         0 |        - |       - |         - |
| derivatives  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Other        |      23 |      3 |         6 |        - |       - |         - |
| derivatives  |         |        |           |          |         |           |
--------------------------------------------------------------------------------
| Total        |     784 |      9 |         6 |       70 |       0 |         0 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| 8 INVESTMENTS RELATED TO UNIT-LINKED INSURANCE    |            |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance                                    |            |             |
--------------------------------------------------------------------------------
|                                                   |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
| Financial assets as at fair value through p/l     |            |             |
--------------------------------------------------------------------------------
| Debt securities                                   |        299 |         121 |
--------------------------------------------------------------------------------
| Equity securities                                 |      1,791 |       1,477 |
--------------------------------------------------------------------------------
| Loans and receivables                             |         54 |          38 |
--------------------------------------------------------------------------------
| Derivatives                                       |          7 |           1 |
--------------------------------------------------------------------------------
| Life insurance, total                             |      2,151 |       1,637 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 9 LIABILITIES FOR INSURANCE AND INVESTMENT        |            |             |
| CONTRACTS                                         |            |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C insurance                                     |            |             |
--------------------------------------------------------------------------------
|                                                   |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
| Insurance contracts                               |            |             |
--------------------------------------------------------------------------------
| Provision for unearned premiums                   |      1,848 |       1,521 |
--------------------------------------------------------------------------------
| Provision for claims outstanding                  |      6,853 |       6,367 |
--------------------------------------------------------------------------------
| P&C Insurance, total                              |      8,701 |       7,889 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Reinsurers' share                                 |            |             |
--------------------------------------------------------------------------------
| Provision for unearned premiums                   |         90 |          54 |
--------------------------------------------------------------------------------
| Provision for claims outstanding                  |        378 |         377 |
--------------------------------------------------------------------------------
| P&C Insurance, total                              |        467 |         431 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance                                    |            |             |
--------------------------------------------------------------------------------
|                                                   |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
| Insurance contracts                               |            |             |
--------------------------------------------------------------------------------
| Liabilities for contracts with DPF                |            |             |
--------------------------------------------------------------------------------
|    Provision for unearned premiums                |      2,527 |       2,629 |
--------------------------------------------------------------------------------
|    Provision for claims outstanding               |      1,833 |       1,777 |
--------------------------------------------------------------------------------
| Total                                             |      4,360 |       4,406 |
--------------------------------------------------------------------------------
| Liabilities for contracts without DPF             |            |             |
--------------------------------------------------------------------------------
|    Provision for unearned premiums                |         13 |          13 |
--------------------------------------------------------------------------------
|    Provision for claims outstanding               |          0 |           0 |
--------------------------------------------------------------------------------
| Total                                             |         13 |          13 |
--------------------------------------------------------------------------------
| Total                                             |      4,373 |       4,419 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assumed reinsurance                               |            |             |
--------------------------------------------------------------------------------
|    Provision for unearned premiums                |          1 |           2 |
--------------------------------------------------------------------------------
|    Provision for claims outstanding               |          2 |           2 |
--------------------------------------------------------------------------------
| Total                                             |          3 |           4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Insurance contracts, total                        |            |             |
--------------------------------------------------------------------------------
| Provision for unearned premiums                   |      2,542 |       2,644 |
--------------------------------------------------------------------------------
| Provision for claims outstanding                  |      1,835 |       1,779 |
--------------------------------------------------------------------------------
| Total                                             |      4,376 |       4,423 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Investment contracts                              |            |             |
--------------------------------------------------------------------------------
| Liabilities for contracts with DPF                |            |             |
--------------------------------------------------------------------------------
|    Provision for unearned premiums                |         53 |          63 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Liabilities for insurance and investment          |            |             |
| contracts, total                                  |            |             |
--------------------------------------------------------------------------------
| Provision for unearned premiums                   |      2,594 |       2,707 |
--------------------------------------------------------------------------------
| Provision for claims outstanding                  |      1,835 |       1,779 |
--------------------------------------------------------------------------------
| Life insurance, total                             |      4,429 |       4,487 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Recoverable from reinsurers                       |            |             |
--------------------------------------------------------------------------------
| Provision for unearned premiums                   |          0 |           0 |
--------------------------------------------------------------------------------
| Provision for claims outstanding                  |          4 |           4 |
--------------------------------------------------------------------------------
| Life insurance, total                             |          4 |           4 |
--------------------------------------------------------------------------------

Investment contracts do not include a provision for claims outstanding.         
Liability adequacy test does not give rise to supplementary claims.			          
Exemption allowed in IFRS 4 Insurance contracts has been applied to investment  
contracts with DPF or contracts with a right to trade-off for an investment     
contract with DPF.			      
These investment contracts have been valued like insurance contracts.           

--------------------------------------------------------------------------------
| Group, total                                      |     13,130 |      12,375 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| 10 LIABILITIES FROM UNIT-LINKED INSURANCE AND     |            |             |
| INVESTMENT CONTRACTS                              |            |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance                                    |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Unit-linked insurance contracts                   |      1,844 |       1,538 |
--------------------------------------------------------------------------------
| Unit-linked investment contracts                  |        301 |          99 |
--------------------------------------------------------------------------------
| Life insurance, total                             |      2,145 |       1,637 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 11 FINANCIAL LIABILITIES                          |            |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C insurance                                     |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Derivative financial instruments (Note 7)         |         80 |         251 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Subordinated debt securities                      |            |             |
--------------------------------------------------------------------------------
| Subordinated loans                                |        435 |         435 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C insurance, total                              |        516 |         686 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance                                    |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Derivative financial instruments (Note 7)         |          7 |           4 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Subordinated debt securities                      |            |             |
--------------------------------------------------------------------------------
| Subordinated loans                                |        100 |         100 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance, total                             |        107 |         104 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Holding                                           |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Derivative financial instruments (Note 7)         |          6 |           0 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Debt securities in issue                          |            |             |
--------------------------------------------------------------------------------
| Commercial papers                                 |        460 |           - |
--------------------------------------------------------------------------------
| Bonds                                             |        949 |           - |
--------------------------------------------------------------------------------
| Total                                             |      1,409 |           - |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Subordinated debt securities                      |            |             |
--------------------------------------------------------------------------------
| Debentures                                        |         37 |         597 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other                                             |            |             |
--------------------------------------------------------------------------------
| Pension loan                                      |        130 |           - |
--------------------------------------------------------------------------------
| Other                                             |          6 |           6 |
--------------------------------------------------------------------------------
| Total                                             |        136 |           6 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Holding, total                                    |      1,588 |         604 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Elimination items between segments                |       -139 |        -125 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Group, total                                      |      2,072 |       1,269 |
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
| 12 CONTINGENT LIABILITIES  |         |              |          |             |
| AND COMMITMENTS            |         |              |          |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| P&C insurance              |         |              |          |             |
--------------------------------------------------------------------------------
|                            |  9/2009 |      12/2008 |          |             |
--------------------------------------------------------------------------------
| Off-balance sheet items    |         |              |          |             |
--------------------------------------------------------------------------------
| Guarantees                 |      19 |           39 |          |             |
--------------------------------------------------------------------------------
| Other irrevocable          |      80 |           75 |          |             |
| commitments                |         |              |          |             |
--------------------------------------------------------------------------------
| Total                      |     100 |          114 |          |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets pledged as          |         |              |          |             |
| collateral for liabilities |         |              |          |             |
| or contingent liabilities  |         |              |          |             |
--------------------------------------------------------------------------------
|                            |  9/2009 |       9/2009 |  12/2008 |     12/2008 |
--------------------------------------------------------------------------------
| Assets pledged as          |  Assets | Liabilities/ |   Assets | Liabilities |
| collateral                 | pledged |      commit- |  pledged |   / commit- |
|                            |         |        ments |          |       ments |
--------------------------------------------------------------------------------
| Cash at balances at        |       9 |            7 |        9 |           8 |
| central banks              |         |              |          |             |
--------------------------------------------------------------------------------
| Investments                |         |              |          |             |
--------------------------------------------------------------------------------
| - Investment securities    |     124 |          101 |      127 |         108 |
--------------------------------------------------------------------------------
| Total                      |     132 |          108 |      136 |         117 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-cancellable operating  |  9/2009 |      12/2008 |          |             |
| leases                     |         |              |          |             |
--------------------------------------------------------------------------------
| Minimum lease payments     |         |              |          |             |
--------------------------------------------------------------------------------
| not later than one year    |      32 |           32 |          |             |
--------------------------------------------------------------------------------
| later than one year and    |      85 |           89 |          |             |
| not later than five years  |         |              |          |             |
--------------------------------------------------------------------------------
| later than five years      |      84 |           90 |          |             |
--------------------------------------------------------------------------------
| Total                      |     201 |          212 |          |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Life insurance             |         |              |          |             |
--------------------------------------------------------------------------------
|                            |  9/2009 |      12/2008 |          |             |
--------------------------------------------------------------------------------
| Off-balance sheet items    |         |              |          |             |
--------------------------------------------------------------------------------
| Fund commitments           |     331 |          308 |          |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|                            |  9/2009 |      12/2008 |          |             |
--------------------------------------------------------------------------------
| Other commitments          |         |              |          |             |
--------------------------------------------------------------------------------
| Acquisition of IT-software |       0 |            3 |          |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-cancellable operating  |  9/2009 |      12/2008 |          |             |
| leases                     |         |              |          |             |
--------------------------------------------------------------------------------
| Minimum lease payments     |         |              |          |             |
--------------------------------------------------------------------------------
| not later than one year    |       2 |            2 |          |             |
--------------------------------------------------------------------------------
| later than one year and    |       7 |            7 |          |             |
| not later than five years  |         |              |          |             |
--------------------------------------------------------------------------------
| later than five years      |       1 |            3 |          |             |
--------------------------------------------------------------------------------
| Total                      |      10 |           11 |          |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Holding                    |         |              |          |             |
--------------------------------------------------------------------------------
|                            |  9/2009 |      12/2008 |          |             |
--------------------------------------------------------------------------------
| Off-balance sheet items    |         |              |          |             |
--------------------------------------------------------------------------------
| Fund commitments           |       4 |            4 |          |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Assets pledged as          |         |              |          |             |
| collateral for liabilities |         |              |          |             |
| or contingent liabilities  |         |              |          |             |
--------------------------------------------------------------------------------
|                            |  9/2009 |       9/2009 |  12/2008 |     12/2008 |
--------------------------------------------------------------------------------
| Assets pledged as          |  Assets | Liabilities/ |   Assets | Liabilities |
| collateral                 | pledged |      commit- |  pledged |   / commit- |
|                            |         |        ments |          |       ments |
--------------------------------------------------------------------------------
| Investments                |         |              |          |             |
--------------------------------------------------------------------------------
| - Mortgaged collateral     |      15 |            6 |       15 |           6 |
| notes                      |         |              |          |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-cancellable operating  |  9/2009 |      12/2008 |          |             |
| leases                     |         |              |          |             |
--------------------------------------------------------------------------------
| Minimum lease payments     |         |              |          |             |
--------------------------------------------------------------------------------
| not later than one year    |       2 |            3 |          |             |
--------------------------------------------------------------------------------
| later than one year and    |       3 |            4 |          |             |
| not later than five years  |         |              |          |             |
--------------------------------------------------------------------------------
| later than five years      |       2 |            3 |          |             |
--------------------------------------------------------------------------------
| Total                      |       7 |            9 |          |             |
--------------------------------------------------------------------------------


--------------------------------------------------------------------------------
| 13 RESULT ANALYSIS OF P&C INSURANCE BUSINESS      |            |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
|                                                   |   1-9/2009 |    1-9/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Premiums earned                                   |      2,712 |       2,884 |
--------------------------------------------------------------------------------
| Claims incurred                                   |     -2,025 |      -2,154 |
--------------------------------------------------------------------------------
| Operating expenses                                |       -468 |        -494 |
--------------------------------------------------------------------------------
| Other technical income and expenses               |          1 |           4 |
--------------------------------------------------------------------------------
| Allocated investment return transferred from the  |        156 |         178 |
| non-technical account                             |            |             |
--------------------------------------------------------------------------------
| Technical result                                  |        374 |         419 |
--------------------------------------------------------------------------------
| Investment result                                 |        306 |         204 |
--------------------------------------------------------------------------------
| Allocated investment return transferred to the    |       -200 |        -224 |
| technical account                                 |            |             |
--------------------------------------------------------------------------------
| Other income and expenses                         |         -5 |          -4 |
--------------------------------------------------------------------------------
| Operating result                                  |        476 |         395 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| 14 SAMPO PLC'S INCOME STATEMENT AND BALANCE SHEET |            |             |
| (FAS)                                             |            |             |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| INCOME STATEMENT                                  |            |             |
--------------------------------------------------------------------------------
|                                                   |   1-9/2009 |    1-9/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Other operating income                            |         10 |           5 |
--------------------------------------------------------------------------------
| Staff expenses                                    |         -9 |          -8 |
--------------------------------------------------------------------------------
| Depreciation and impairment                       |          0 |          -1 |
--------------------------------------------------------------------------------
| Other operating expenses                          |        -14 |         -10 |
--------------------------------------------------------------------------------
| Operating profit                                  |        -13 |         -14 |
--------------------------------------------------------------------------------
| Finance income and expenses                       |        157 |         371 |
--------------------------------------------------------------------------------
| Profit before appropriations and income taxes     |        144 |         357 |
--------------------------------------------------------------------------------
| Income taxes                                      |          8 |          -7 |
--------------------------------------------------------------------------------
| Profit for the financial period                   |        152 |         350 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| BALANCE SHEET                                     |     9/2009 |     12/2008 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| ASSETS                                            |            |             |
--------------------------------------------------------------------------------
| Non-current assets                                |            |             |
--------------------------------------------------------------------------------
| Intangible assets                                 |          1 |           1 |
--------------------------------------------------------------------------------
| Property, plant and equipment                     |          4 |           4 |
--------------------------------------------------------------------------------
| Investments                                       |            |             |
--------------------------------------------------------------------------------
|   Shares in Group companies                       |      2,370 |       2,370 |
--------------------------------------------------------------------------------
|   Receivables from Group companies                |        100 |         122 |
--------------------------------------------------------------------------------
|   Shares in participating undertakings            |          - |           0 |
--------------------------------------------------------------------------------
|   Other shares and participations                 |      5,526 |       1,710 |
--------------------------------------------------------------------------------
|   Other receivables                               |          2 |       1,062 |
--------------------------------------------------------------------------------
| Receivables                                       |         76 |          59 |
--------------------------------------------------------------------------------
| Cash and cash equivalents                         |        123 |          35 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL ASSETS                                      |      8,201 |       5,364 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| LIABILITIES                                       |            |             |
--------------------------------------------------------------------------------
| Equity                                            |            |             |
--------------------------------------------------------------------------------
| Share capital                                     |         98 |          98 |
--------------------------------------------------------------------------------
| Share premium account                             |          - |       1,160 |
--------------------------------------------------------------------------------
| Legal reserve                                     |          - |         366 |
--------------------------------------------------------------------------------
| Fair value reserve                                |        381 |      -1,759 |
--------------------------------------------------------------------------------
| Other reserves                                    |      1,799 |         273 |
--------------------------------------------------------------------------------
| Retained earnings                                 |      4,110 |       3,993 |
--------------------------------------------------------------------------------
| Profit for the year                               |        152 |         555 |
--------------------------------------------------------------------------------
| Total equity                                      |      6,540 |       4,686 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Liabilities                                       |            |             |
--------------------------------------------------------------------------------
| Long-term                                         |      1,116 |         597 |
--------------------------------------------------------------------------------
| Short-term                                        |        546 |          81 |
--------------------------------------------------------------------------------
| Total liabilities                                 |      1,662 |         678 |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| TOTAL LIABILITIES                                 |      8,201 |       5,364 |
--------------------------------------------------------------------------------

03q2009eng.pdf