SEB acquires Key Asset Management - a leading European fund of hedge funds manager

SEB has reached an agreement to acquire 100 per cent of the shares in
KAM Group Limited ("Key Asset Management"), a London-based manager of
funds of hedge funds. The acquisition is an important step in SEB's
strategy to continue to grow in the alternative investments segment,
a fast growing area of the asset management industry.

Annika Falkengren, CEO and President of SEB, says: "I am delighted to
announce this strategic acquisition within an attractive growth area
for SEB. The acquisition will strengthen our position in alternative
investments and facilitate an even stronger wealth management
offering to our clients."

Key Asset Management is a leading European fund of hedge funds
manager with approximately SEK 20bn of assets under management. Key
Asset Management has one of the longest track records in the industry
and its flagship Key Hedge Fund has generated positive returns for 17
consecutive years. Since 2003, SEB enjoys good commercial relations
with Key Asset Management. This acquisition will take SEB's asset
under management in hedge funds to approximately SEK 40bn.

Simon Ewart, CEO of Key Asset Management, says: "The acquisition will
bring benefits to all existing and prospective clients of both Key
Asset Management and SEB and I am pleased that our existing
relationship will be deepened in this way. Key Asset Management's
offering will be further strengthened by having SEB as its owner."

Key Asset Management will become a wholly owned subsidiary of SEB,
operating as a separate unit within the Wealth Management division.
Key Asset Management's senior management and executives will continue
in their existing roles, and its product range and investment process
will be unaffected by the transfer of ownership. The business will be
rebranded SEB Key.

Completion of the transaction is subject to regulatory approvals.

SEB was advised by JPMorgan in this transaction.



SEB is a North European financial group serving some 400,000
corporate customers and institutions and five million private
individuals. SEB has a local presence in the Nordic and Baltic
countries, Germany, Ukraine and Russia, and a global presence through
its international network in another ten countries. On 30 September
2007, the Group's total assets amounted to SEK 2,149bn while its
assets under management totalled SEK 1,385bn. The Group has about
20,000 employees. Read more about SEB at www.sebgroup.com .
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For further information, please contact:
Fredrik Boheman, Head of Wealth Management, +46 (0)8 22 1900
Simon Ewart, CEO of Key Asset Management, +44 (0)20 7016 6200
Ulf Grunnesjö, Head of Investor Relations, +46 (0)8 763 8501, +46
(0)70 763 8501
Katja Margell, Head External Communications, +46 (0)8 763 9163, +46
(0)70 745 9138