61KN Westpac 24 S

RNS Number:8567C
Skandinaviska Enskilda Banken
21 December 1999


SEB changes the incentive programme of the Group

An agreement has been reached between SEB and the Swedish Union of Financial
Sector Employees, which means that the staff incentive programme will be
changed.  From the year 2001, the present profit-sharing system will be replaced
by a local incentive system.  The objective is to create a more result-oriented
incentive system throughout the various parts of the Group.

The profit-sharing system will be discontinued this year.  Therefore, a bridging
system in the form of a service pension solution - which will be calculated
along the same lines as the profit-sharing system - will apply in the case of
the years 1999 and 2000.

For further information:
Gunilla Wikman, Head of Group Communications at SEB,
Telephone:  +46 8-763 8125
Lotta Treschow, Head of Investor Relations at SEB,
Telephone:  +46 8-763 9559 


END
MSCAASKKKBKUURA

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