Länsförsäkringar Bank AB (publ) Year-end report 2003

Länsförsäkringar Bank AB (publ) Year-end report 2003 2003 in brief · Lending to the general public increased by 51% to SEK 30.0 billion (19.9). Deposits from the general public rose by 15% to SEK 17.0 billion (14.7). · Mortgage loans by Länsförsäkringar Hypotek rose by 106% to SEK 16.2 billion (7.8). Länsförsäkringar captured 10% of the growth in the housing mortgage during 2003. · Operating income amounted to SEK 103.8 M (32.7) before loan losses and SEK 64.9 M (19.5) after loan losses. Loan lasses remain at a low level. Probable and confirmed loan losses correspond to 0.13% (0.07) of total lending volume. · Revenues rose by 27% to SEK 822.2 M (649.3). · Administrative expenses increased by 15% to SEK 736.4 M (641.0). · Net interest income rose by 30% to SEK 700.7 M (537.8). · The target level for total capital adequacy was raised at the end of the year from 9.25% to 10.5% (+/- 0.5%). A target level for the Tier 1 ratio was set at 8.5% (+/- 0.5%). At yearend, capital adequacy was 13.00% (8.08) and the Tier 1 ratio was 9.95% (7.45). · The bank received a capital contribution of SEK 1,600 M during the year. · During the year, an MTN program was issued in addition to a syndicated term loan and revolving credit. · Länsförsäkringar received 59,000 new bank customers during the year. The number of customers that have current account, cards, savings and loans with the bank increased by 63% during 2003. · An increasing number of customers are discovering the benefits of having all their banking and insurance with Länsförsäkringar. At year- end, 10% (8) of private home customers were also bank customers. · Länsförsäkringar's bank customers are among the most satisfied in Sweden, according to the 2003 Swedish Quality Index. The bank has the highest ratings of all banks for the best-value banking services and the most loyal bank customers. For additional information, contact: Tomas Johansson +46 8-588 419 82 CEO Länsförsäkringar Bank +46 73-96 419 82 tomas.johansson@lansforsakringar.se Christer Baldhagen, Senior Vice President +46 8-588 415 01 Corporate Communications Länsförsäkringar AB +46 70-579 70 66 christer.baldhagen@lansforsakringar.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/20/20040220BIT00230/wkr0001.doc http://www.waymaker.net/bitonline/2004/02/20/20040220BIT00230/wkr0002.pdf The full report

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Länsförsäkringar is Sweden’s only customer-owned and locally established banking and insurance group. The customers in each of the counties in the country own their local and independent regional insurance company. The 23 regional bank and insurance companies cooperate in the jointly owned Länsförsäkringar AB, which conducts development and provides services within banking, life assurance, non-life insurance and animal insurance. Länsförsäkringar offers a broad range of insurance and banking services for individuals, companies and farming. All companies within the Länsförsäkringar Alliance are environmentally certified in accordance with ISO 14001.

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