The future management of Svenska Handelsbanken

The Board suggests that Arne Mårtensson, President and Group Chief Executive, be elected as new Chairman and that Lars O Grönstedt, presently Executive Vice President and CIO, be appointed as new President and Group Chief Executive.

- After almost 25 years, first as Group Chief Executive and then as Chairman of the Board, the time feels right, says Tom Hedelius in a statement. The Bank is doing well and the succession is well provided for. I am looking forward to a somewhat lesser work load in spite of the fact that I am planning to take an even more active part in some of my other board assignments. For example, as vice Chairman of Industrivärden, I have been asked by its Board to succeed Bo Rydin as Chairman on his resignation at the Annual General Meeting in 2002.

For further information please contact: <br>Tom Hedelius, Chairman <br>Arne Mårtensson, President and Group Chief Executive or <br>Lars O Grönstedt, Executive Vice President and CIO <br>Tel no: +46 8 22 92 20 <br>