American Skandia Opens Denver Offices; Company's Steady Growth Expands to Denver, Colorado

Business Wire,  August 1, 2001  

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Business Editors

SHELTON, Conn.--(BUSINESS WIRE)--Aug. 1, 2001

American Skandia Life Assurance Corporation, a financial services company with over $32 billion in client assets, opened its second U.S. office site today, in the Denver suburb of Westminster.

The 120,000-square-foot facility will house a customer service and sales center with supporting Information Technology, Training, Human Resources and Facilities Management functions. Sixty-five employees began working at the facility in June. The facility is expected to employ more than 200 people by the second year of operation.

American Skandia President & CEO Wade Dokken said the new service center stands as a continuation of company progress that will allow American Skandia to better serve investment professionals who conduct business in the western half of the U.S.

Dokken said, "With this expansion, American Skandia is broadening its accessibility to investment professionals while continuing to grow as a company. It is a vital addition to the comprehensive services American Skandia already provides in the marketplace."

Maintaining a high standard of customer service has been a vital component of American Skandia's success.

"In keeping with its commitment to excellence in customer service, American Skandia is pursuing this expansion to ensure that our track record remains strong," added Ian Kennedy, Senior Vice President of Customer Service.

Construction on the building began in May 2000. Oz Architecture of Boulder, Colorado, built the core and shell while burkettdesign, a Denver-based architectural firm, designed the interior of the building to reflect the American Skandia culture with a "western flair." The facility boasts state-of-the-art equipment including a customer service call center, a data center, a world-class training facility and ample meeting space.

Variable annuities and variable life insurance are issued by American Skandia Life Assurance Corporation. Variable annuities, variable life insurance and mutual funds are 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.

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