SEB sells its shareholding in the Swedish Export Credit Corporation

SEB sells its shareholding in the Swedish Export Credit Corporation More focus on own activities in export and project finance SEB has signed an agreement to sell its stake, 18 percent, in the Swedish Export Credit Corporation, SEK, to ABB. The sale will result in a positive change of SEB's net income of approximately SEK 500 million consisting of a capital gain and a dividend from SEK. SEK has played an important role as provider of medium and long term export credits to Swedish banks and exporters. Over the years SEB has obtained a dominating portion of the Swedish export credit market. The sale of the shares in SEK implies that SEB now can develop and add value to the existing strong market share by further focusing on activities in its own name. - SEB has always been a reliable partner to the major Swedish multinationals and that is why SEB has such a strong position in the export credit market in Sweden. Consequently, the sale is an important step in SEB's ambition to better focus on what we can offer our clients through our own resources, says Zaid Pedersen, Deputy CFO, SEB. - SEB is increasing the activities in its own name primarily with strong focus on multisourced export and project finance. The business has large growth potential and will meet the increased demand from our large multinational clients, continues Zaid Pedersen. For further information: Zaid Pedersen, Deputy CFO. +46 8 763 9290 Lotta Treschow, Head of Investor Relations. +46 8 763 9559 Boo Ehlin, Press Manager. +46 8 763 8577,r +46 70 763 85 77 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/29/20000629BIT01180/bit0001.doc http://www.bit.se/bitonline/2000/06/29/20000629BIT01180/bit0002.pdf