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Proposals of Sampo Board of Directors to The Extraordinary General Meeting of Shareholders


The Board of Directors proposes to the Extraordinary General Meeting of Shareholders that it be authorised to decide on the increase of the share capital by no more than EUR 9,670,805.77 by issuing no more than 57,500,000 Sampo A shares with a countervalue of EUR 0.17 (not an exact figure), which corresponds to 10.3% of the share capital and all votes attached to the shares at the time of the proposal. Deviating from the shareholder's pre-emptive subscription rights, the shares are offered to be subscribed by Storebrand shareholders.

The Board of Directors decides the subscription price and the grounds for its definition as well as other terms pertaining to the increase in share capital. The subscription of shares will be carried out against a contribution in kind in such a manner that the subscription price shall be paid by giving Storebrand shares to Sampo.

The authorisation is proposed to be in force for one year as from the Extraordinary General Meeting, i.e. until 26 June 2002.

A proposal shall also be made to the Extraordinary General Meeting pursuant to the Combination Agreement between Sampo and Storebrand that, instead of the current number of seven, the Board of Directors shall comprise of nine members by electing two new members to the Board. The term of office of the new members of the Board of Directors will begin when the combination of Sampo and Storebrand is implemented.

SAMPO PLC

Pertti Nurvala
Head of group Communications



APPENDIX: Proposal of Sampo plc Board of Directors to the Extraordinary General Meeting of Shareholders of 27 June 2001.

FOR FURTHER INFORMATION, PLEASE CONTACT:
Taru Narvanmaa, Head of Investor Relations, tel. +358 10 514 0030, mobile +358 50 590 9398

FOR DISTRIBUTION TO:
Helsinki Exchanges
The principal media