Nordea streamlines its organisation and appoints new member of Group Executive Management

The changed organisational structure, which will be established in
the period up till 1 July 2007, implies a stronger customer
orientation and a more simple, transparent and efficient product and
service delivery chain. In addition, it contains a clear separation
of the responsibilities for customer relations and products.

The stronger customer orientation will be supported by combining the
corporate customer units in the bank and establishing one Nordic
customer area, "Nordic Banking". This customer area will be
responsible for sales and customer relationship processes covering
retail and corporate segments in the Nordic region. This will
streamline the customer organisation and gather the corporate
relationship management competencies.

The product and service delivery chain will be streamlined by
organising all products and related processing in the Group in two
new product areas, "Banking & Capital Market Products" and "Savings &
Life Products" with a simplified governance structure for the
interface between customer and product units. Within these two new
product areas four product divisions will be formed: Account
Products, Cash Management & Payments, Capital Market Products and
Savings Products & Asset Management.

A new framework for prioritisation and management of the Groups'
strategic initiatives will be established with an Executive Strategy
Committee to support Group Executive Management in selecting, driving
and assessing the most important strategic initiatives of the
Group.

- The changed organisation will take Nordea to its next level of
operational efficiency by integrating and optimising the cross
organisational processes following a successful rationalisation
within each of the business areas and Group functions during the past
4 - 5 years. The changes will support our organic growth strategy by
improving the quality of our customer relations and increase time
spent with customers. In addition we will reduce time-to-market of
our products. Our revised vision and values foundation is reflected
in this new integrated Group operating model, says President and
Group CEO Christian Clausen.

Revised vision and values
The Group's vision and values foundation have been revised. The
vision has been adjusted to mirror the increased ambitions of the
Group. The new Nordea vision reads:"The leading Nordic bank, acknowledged for its people, creating
superior value for customers and shareholders"

The Group's values foundation has also been adjusted to better
support the realisation of the vision and the organic growth
strategy. In addition to the existing foundation three new elements"Great customer experiences", "It's all about people" and "One Nordea
Team" have been included. As a consequence of this a new business
support area, People & Identity will be established consisting of
three divisions Group Human Resources, Group Identity &
Communications and Marketing. This will also strengthen the Nordea
brand and the focus on people management in the Group.

Gunn Wærsted, former CEO of SpareBank 1 Gruppen in Norway, is
appointed new member of Group Executive Management.
Gunn Wærsted will 1 August 2007 join the Nordea Group Executive
Management as Head of Savings & Life Products and Private Banking as
well as Head of People & Identity.  Gunn Wærsted will in addition
become Nordea's Country Senior Executive in Norway, succeeding Tom
Ruud who will concentrate on his new and extended responsibilities.


Gunn Wærsted is 52 years old and is former CEO of SpareBank 1 Gruppen
in Norway. She is a Business Economist, BI Norwegian School of
Management. Previously she has been CEO of Vital Forsikring as well
as Group Executive Vice President of DnB in Norway. From 2005 to 2007
Gunn Wærsted was the Chairman of the Norwegian Financial Services
Association, FNH.

- I warmly welcome Gunn to the team. Her excellent leadership
capabilities, broad and deep competence will be a valuable
contribution to our continued efforts to reach the Group's high
ambitions and financial targets, says Christian Clausen.

Composition of Group Executive Management
As per 1 July 2007 the composition of the Nordea Group Executive
Management is as follows:

Christian Clausen, President and Group CEO
Lena Eriksson, Head of Group Legal & Compliance
Carl-Johan Granvik, Head of Group Credit & Risk Control, Chief Risk
Officer (CRO)
Arne Liljedahl, Head of Group Corporate Centre and CFO. Country
Senior Executive in Sweden
Frans Lindelöw, Head of Corporate Merchant Banking Sweden & Stockholm
Area within Nordic Banking
Markku Pohjola, Head of Group Service & Technology and Deputy Group
CEO. Country Senior Executive in Finland
Tom Ruud, Head of Banking and Capital Market Products and of
Institutional & International Banking
Peter Schütze, Head of Nordic Banking. Country Senior Executive in
Denmark
Gunn Wærsted (1 August 2007), Head of Savings & Life Products and
Private Banking as well as Head of People & Identity. Country Senior
Executive in Norway.

To download information on the members of Group Executive Management
please click on the following link www.nordea.com.

The Integrated Group operating model as well as the new
organisational chart of the Group is shown in the appendix.


For further information:
Christian Clausen, President and Group CEO +46 8 614 7804
Torben Laustsen, Head of Group Identity & Communications, +46 8 614
7916


Appendix: Group operating model and organisation as per 1 July 2007