Clarification on Swedbank's exposure to Icelandic banks.

Press release October 7, 2008

Clarification on Swedbank's exposure to Icelandic banks.

Owing to certain circumstances Swedbank repeats its exposure towards Icelandic
banks and Nordic banks with Icelandic owners.

Swedbank has no exposure (SEK 0) towards Icelandic banks on Iceland.

Swedbank has no reason to make any provisions due to exposures towards Nordic
banks with Icelandic owners. These exposures are of good quality.

Swedbank has a total exposure of SEK 564 million towards FIH, a Danish bank
which has previously been owned by Swedbank and now has Icelandic owners. FIH is
embraced by the rules and regulations for banks in Denmark and is under
supervision by Danish authorities. The exposure is covered by the political
agreement for financial stability in Denmark. The exposure is of low risk.

Swedbank's other exposures constitute of a covered bond of SEK 140 million
issued by BN Boligkreditt, a Norwegian bank, and a leasing agreement of SEK 17
million with a Swedish bank, both with Icelandic owners. They are embraced of
respective country's rules and regulations for banks and are supervised by
respective country's authorities. The exposures are of low risk.


For further information: 
Anna Sundblad, Press Manager, Swedbank, phone: +46 70 321 39 95


Swedbank's vision is to be the leading financial institution in the markets
where we are present. Swedbank has 9 million retail customers and 600,000
corporate customers with more than 459 branches in Sweden, 300 branches in the
Baltic countries and another 190 branches in Ukraine. The group is also present
in Copenhagen, Helsinki, Kaliningrad, Luxembourg, Marbella, Moscow, New York,
Oslo, Shanghai, St. Petersburg and Tokyo. As of December 2007 the group had
total assets of SEK 1,600 billion and approximately 22,000 employees. For more
information about Swedbank, please visit www.swedbank.com.