Interim Report January - June 2007

Interim Report highlights:

• Fund capital was SEK 214.2 billion at 30 June, an increase by SEK 13.7 billion since 31 December.
• Net profi t totalled SEK 12.8 billion for the period, corresponding to total return on assets of 6.4% before expenses. Total return after operating expenses including commission expenses was 6.3%.
• Return on the listed equity portfolio was 6.1% before expenses, outperforming benchmark indices. Active return was 0.1% of listed assets and 0.2% on the total portfolio.
• AP4 has delivered average annual return of 5.4% since Fund inception, corresponding to real annual return of 3.8%.
• Currency exposure was 15.3% at 30 June.