STOCKHOLM, Sweden, August 11, 2003 (PRIMEZONE) -- ForeningsSparbanken (Other OTC:FGSKF) (Swedbank) has decided to take a write-down of its shareholding in Norway's SpareBank 1 Gruppen of SEK 311 million, which will be charged against second-quarter earnings.
The book value of the holding thereafter amounts to SEK 506 million, which corresponds to ForeningsSparbanken's share of SpareBank 1 Gruppen's equity. As a result, all goodwill attributable to ForeningsSparbanken's 25-percent interest in SpareBank 1 Gruppen has been written off.
For further information, please contact: Nils-Fredrik Nyblaeus, Deputy President, Accounting and Finance phone + 46 8 5859 2532
Jonas Blomberg, Head of Investor Relations, phone +46 702 65 01 33
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http://www.waymaker.net/bitonline/2003/08/11/20030811BIT00020/wkr0001.doc
http://www.waymaker.net/bitonline/2003/08/11/20030811BIT00020/wkr0002.pdf