At the meeting on 2 April 2009 the Board of Directors made the following decisions in respect of the open policy years:

2006/2007
To close this year.

2007/2008
To close this year in the spring of 2010 as the result is stable and anticipated to produce a small technical surplus, and to maintain the release call at 25%.

2008/2009
To not levy a supplementary call, and to maintain the release call for this year at 25%. This is a consequence
of a change in the claims pattern following the global financial crisis and the downturn in the shipping industry, which is anticipated to affect the result accordingly.

2009/2010
To maintain the goal set at the renewal for 2009/2010, which was to achieve a 0% supplementary call. To set the release call for this policy year at 25%.

Yours sincerely,
The Swedish Club
Lars Rhodin