Press release - 2009 results

Nordben has again maintained its market leading position as provider of international pension plans to Nordic industry.

Profit for 2009 was 35.6 million Swedish Kronor ( 3.2 million Pounds Sterling) and the shareholders’ capital position remained very satisfactory being sufficient to meet Guernsey’s minimum margin of solvency in excess of three times. The Company’s capital resource exceeded 590 million Swedish Kronor (53 million Pounds Sterling) or over three times notional EU solvency.

The outlook for the Company is very positive, as Guernsey is one of the most favoured locations for the provision of externally funded international pension plans. In addition there has been a continued increase in the number of globally mobile employees and the demand for international pension plans remains high.

Nordben also sees opportunities outside of its core Nordic market through the development of new products and strategic partnerships. Nordben’s General Manager, Nick Slinn, adds “ We are very pleased that the Board is supportive of our drive to develop business outside of the Nordic regions. We have recently appointed an experienced Business Development Manager who will provide the specialised resource to enable the development of these exciting opportunities”.