Postgirot Merges with Nordea


STOCKHOLM, Sweden, Dec. 20, 2002 (PRIMEZONE) -- Nordea (Other OTC:NRDAF) (Stockholm:NDA):

On December 20, 2002 Postgirot Bank AB (publ) merged with Nordea Bank Sweden AB (publ). As a result of the merger the company will cease to exist as a legal person. Postgirot's payment system and services will remain unchanged, but are now integrated with Nordea Bank Sweden under the name of Postgirot.

Nordea acquired Postgirot Bank in 2001. In the initial phase the company became a subsidiary of Nordea Bank Sweden. The Swedish Patent and Registration Office has today registered the Swedish Financial Supervisory Authority's approval of a merger of the banks. The merger will enhance Nordea's potential to offer customers faster and better payment solutions and to make business processes more efficient.

Some 90% of all Swedish businesses, public institutions and associations have business relations with Postgirot. Thus, 425,000 companies and 800,000 private individuals use the payment services of Postgirot.

For further information:

Ann-Leena Mikiver, Chief Information Officer in Sweden, +46 8 614 90 07

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