SEB begins sale of external foreign mutual funds

SEB begins sale of external foreign mutual funds SEBs 800,000 fund customers can select among 30 funds from ten different managers As the first of the major banks, SEB is offering its 800,000 fund customers external, foreign funds. Initially, there will some 30 funds, from about ten different managers, from which to choose. The offering of external funds is being made together with SEB's own offering of about 100 funds. "Through providing an offering of external funds, we are taking the first step toward making SEB a financial supermarket, in which the customer can just as easily subscribe for SEB funds as for external funds. With a competitive-based offering, we become more attractive and concurrently more credible as a fund supplier," says Anders Mossberg, head of Asset Management & Life, and an Executive Vice President of SEB. A separate unit, External Funds, is being established to handle selection and marketing. It will be possible for customers to purchase the external funds through all of SEB's channels - branch offices, telephone bank and the Internet bank. "In addition to our own fund offering, a large proportional of our customers have inquired about foreign managers. Consequently, we are now starting this activity. We will sell the best funds from the best managers," says Bengt Bergholz, who will be responsible for the External Funds unit. For further information, contact: Bengt Bergholz, Head of External Funds, +46 8 676 91 81. Anna Selberg, Information Manager, Asset Management & Life, +46 8 785 11 46, +46 70 763 81 84. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/21/20000620BIT01210/bit0001.doc http://www.bit.se/bitonline/2000/06/21/20000620BIT01210/bit0002.pdf