Färs & Frosta Sparbank reorganized as a banking corporation

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Färs & Frosta Sparbank reorganized as a banking corporation In December 1998, the Boards of Färs &Frosta Sparbank and Swedbank (FöreningsSparbanken AB) decided to collaborate to a greater extent. During 1999, Färs & Frosta Sparbank has been reorganized as a foundation, Sparbanksstiftelsen Färs & Frosta, with the aim of developing and modernizing the concept of a savings bank, and of opening up greater opportunities for development in the local area. In accordance with the agreement, Färs &Frosta Sparbank has reorganized itself as a banking corporation, named Färs &Frosta Sparbank AB. As previously agreed, FöreningsSparbanken AB has in December 1999 become a part-owner of Färs &Frosta Sparbank AB with a 30% stake, by acquiring shares to the value of just over SEK 250m. The remaining 70% stake is owned by Sparbanksstiftelsen Färs & Frosta For further information, please contact: Annika Wijkström, Vice President, FöreningsSparbanken: Tel +46-8-585 913 97 or +46-708-78 87 85 Lennart Haglund, Chairman, Färs & Frosta Sparbank AB: Tel +46-40-24 20 02 or +46-705-57 51 29 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/29/19991229BIT00430/bit0001.doc http://www.bit.se/bitonline/1999/12/29/19991229BIT00430/bit0002.pdf

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