Swedbank buys SEBs shares in Hansapank

Swedbank buys SEB's shares in Hansapank Swedbank (FöreningsSparbanken AB) and SEB (formerly S-E-Banken) have reached an agreement for Swedbank to acquire all SEB's shares in Estonian Hansapank. Swedbank at present owns just above 30 percent and SEB l8 percent of Hansapank´s equity. The agreed transfer of shares will be made during the autumn subject to the required permission of the authorities being obtained. The Extraordinary General Meeting of Hansapank shareholders that Hansapank has called to decide on the proposal from Hansapank's Supervisory Council on a rights issue guaranteed by Swedbank will take place as planned on October l7th. In the long term Swedbank intends to have a share holding in Hansapank of between 25 and 35 percent. The acquisition of SEB's shares and the offered guarantee of the planned rights issue will bring the share holding above that level. Swedbank will therefore, upon consultation with Hansapank's management, take up negotiations in order to find other long term investors for part of the shares. - The agreement with SEB is made on commercial grounds. It creates an increased clarity in the ownership, which is good for Hansapank, the major Estonian bank. Furthermore, the concluded agreement is a condition for a desired development of alliance and cooperation between us and Hansapank. This is very positive and I foresee a development similar to what we have in line with our Nordic/Baltic strategy started through alliances in Finland, Norway and Iceland, says Reinhold Geijer, President and CEO of Swedbank. For further information, please contact: Reinhold Geijer, President and CEO of Swedbank, telephone +46-8-585 92l 70 Einar Frydén, Information Manager, telephone +46-8-585 9l6 30, +46-705-ll 00 33