STB - Limited exposure to Lehman Brothers
As a result of the information announced by Lehman Brothers Holdings Inc., Storebrand makes the following comment:
Storebrand Livsforsikring AS has today booked a loss of NOK 72 million, of which NOK 69 million is in the customer portfolio and NOK 3 million in the company portfolio. The loss is limited upwards to this amount, and represents less than 0.05% of the insurance reserves in Storebrand Livsforsikring AS.
SPP had a small equity holding in shares in Lehman Brothers Holdings Inc., which has resulted in a booked loss of NOK 1.2 million. The loss is limited upwards to this amount.
Storebrand Bank has no exposure to Lehman Brothers.
No companies in the Storebrand Group have derivatives positions with Lehman Brothers as counterparty.
Oslo, 15 September 2008
Contact persons:
EVP Corporate Communications Egil Thompson: Mobile (+47) 93 48 00 12Head of Investor Relations Trond Finn Eriksen: Mobile (+47) 99 16 41 35