The return on Ilmarinen's investments was -9.4 percent year to date as of September 30th 2008

Ilmarinen's return on investments between January 1st and September 30th, calculated on the basis of fair values, was -9.4 percent. Returns by asset classes were as follows: interest rate investments were up 0.4 percent, investments in shares were down 23.7 percent, property investments were up 3.6 percent, and other investments were up 3.8 percent. At the end of September, the total market value of the company's investments was EUR 23.4 billion.

At the end of September, Ilmarinen's solvency capital was 15.5 percent of technical provisions and 1.3 times the solvency border.

“Equity investments still remain the most profitable way of investing employment pension funds. We are able to handle the pressure at a satisfactory level to say the least, particularly when taking into account the difficult market situation. We believe that long-term investing will carry us through economic fluctuations,” says Timo Ritakallio, Deputy CEO, President, Investments.

On 17 October 2008, the Finnish Council of State supplied the Finnish Parliament with a proposal for reform to the solvency regulations governing employment pension companies, taking them in a more flexible direction for a fixed period.

“Also in October, when the financial market crisis worsened to unprecedented dimensions, the solvency capital of Ilmarinen has remained every day above the solvency border. However, more flexible solvency regulations are suitable in this situation. Although the crisis will deepen further, the regulations mean that employment pension companies do not have to change the structure of their investments in a way that could endanger future returns or decrease the share prices of Finnish listed companies. According to the new regulations, Ilmarinen’s solvency capital is more than two times the solvency border,” says Jaakko Tuomikoski, Deputy CEO, President, Finance and Controlling of Risks.

 These figures are unaudited. The press release on Ilmarinen’s official financial statements for 2008 will be released in week 9.

Ilmarinen Mutual Pension Insurance Company

Harri Sailas

President and CEO

For more information, please contact:

Harri Sailas, tel. 010 284 3000

Jaakko Tuomikoski, tel. +358 10 284 3447 or +358 50 66398

Timo Ritakallio, tel. +358 10 284 3838 or +358 500 536 346

Attachments:

Results release material (pdf)