61KN Westpac 24 S

RNS Number:2294L
Skandinaviska Enskilda Banken
25 May 2000



SEB sells loan stock of SEK 2.2 billion

As part of the Group's streamlining, SEB has decided to phase out operations
that involve the post wright-off debt collection within the Retail organisation.
 Although SEB is the first major Swedish bank to conclude such as transaction,
similar agreements have already been noted in the US bank market.

The price level for the type of loans concerned has risen during recent years,
due to Sweden's improved economic climate.  Accordingly, SEB has concluded that
this is the right time to sell this loan stock.  The purchaser is Hoist Kredit
AB.  

The sale consists of approximately 28,000 loans can capital receivables
corresponding to SEK 2.2 billion.  The effective date of the purchase is March 1
and the payment date is October 1, 2000.

The transaction will generate a capital gain of about SEK 300 M for SEB.

For further information, please contact:

Staffan Tjus, President, Hoist International AB 
Tel: +46-8-453 99 00, +46-708 188 165

Gunilla Wikman, SEB, Head of Group Communications,
Tel: +46-8 763 8125

Lotta Treschow, SEB, Head of Investor Relations,
Tel: +46-70 763 9559

END
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