American Skandia Sponsors Three-Time Olympian Bonny Warner; Continues Support of U.S. Bobsled Team.

Business Editors

SHELTON, Conn.--(BUSINESS WIRE)--Aug. 21, 2001

Company Played Key Role in Gaining Status of Sport for Women in

Olympic Games

American Skandia, Incorporated has announced that the company will sponsor three-time Olympic athlete Bonny Warner in her 2002 quest for a medal in the Winter Games in Salt Lake City, Utah.

Warner is a former luger who is training for the women's bobsled event, which will debut as an official Olympic sport at the 2002 Winter Games.

American Skandia, a leading financial services company, is the founding sponsor of the U.S. Women's Bobsled team and was instrumental in achieving Olympic sport status for women's bobsledding. Originally, in 1996, American Skandia signed on for a six-year commitment which pledged its support of the U.S. women's bobsled team and directly assisted in lobbying the International Olympic Committee through a letter-writing campaign to seek Olympic status for the sport. After the team was in operation for five years as a national team, the IOC voted in October 1999 to include the sport.

With the sponsorship agreement, American Skandia provides funding, equipment and promotion of Warner and other members of the U.S. Women's team. American Skandia also purchased one of the three fiberglass and steel bobsleds to be used by the U.S. Women's team.

"In 1988, when American Skandia was starting out, we joined an industry filled with veteran companies. We know what it means to hunger for success. We have overcome meager beginnings to become a leading provider of financial products. The U.S. Women's Bobsled Team has had a similar journey," said American Skandia Executive Vice President Hayward Sawyer. "All that's left now is for Bonny Warner to drive the sled to victory in Salt Lake City. American Skandia will continue to be behind her all the way."

Patricia J. Abram, Chief Marketing Officer for American Skandia, noted that while Warner is a determined athlete, she projects an image that is familiar to the investment industry. "American Skandia has built its business on the concept that discipline leads to excellence, and Bonny Warner exemplifies this every day. We are thrilled to have the opportunity to help her achieve her highest level of success."

Warner, 39, a five-time National Champion in the luge, had heard of the struggle of another women's sliding sport to gain Olympic status in early 1998. As a former USOC athlete representative, Warner began participating in the lobbying process and carried significant weight in the Olympic status effort. The two-woman event will make its debut at the 2002 Winter Games. For Warner, who is a 737 captain with United Airlines, a wife and mother of a three-year-old daughter, the Olympic return is her chance to grab a medal that has eluded her in her previous athletic events.

"American Skandia was there at the dawn of women's bobsledding as an Olympic sport. That's why I truly am excited to be the bobsled spokesperson for American Skandia. They've been around and backing women's bobsledding for so long, I really feel they're a part of it," Warner said.

ABOUT AMERICAN SKANDIA

Founded with a fundamental philosophy that embraces innovation, objectivity and quality, American Skandia, Incorporated, and its subsidiaries have forged a distinct identity in the financial services marketplace since inception in 1988.

American Skandia Life Assurance Corporation (ASLAC) serves individual investors and their investment professionals by providing variable insurance products for long-term needs.

Variable annuities and variable life insurance are issued by American Skandia Life Assurance Corporation and distributed by American Skandia Marketing, Incorporated. Both companies are located at One Corporate Drive, Shelton, Connecticut 06484.

Call 1-800-SKANDIA for a prospectus containing more complete information on charges, expenses and tax consequences. It should be read carefully before you invest or send money. Information about the company and its products can also be found on the company Web site at www.americanskandia.com.

ABOUT U.S. BOBSLED & SKELETON FEDERATION

The U.S. Bobsled & Skeleton Federation is the national governing body for the sports of bobsled and skeleton in the U.S. With its home office in Lake Placid, N.Y., the USBSF also has a satellite office in Park City, Utah. For more information on USBSF athletes, please visit www.USBSF.com.