61KN Westpac 24 S

RNS No 3052m
SKANDINAVISKA ENSKILDA BANKEN
20 August 1999


SEB increases its holding in Latvijas Unibanka to above 50 per cent

Skandinaviska Enskilda Banken (SEB) has acquired an additional amount of 565,000
shares in Latvijas Unibanka, equivalent to approximately 1.5 per cent of the
total share capital in Unibanka.  This brings SEB's total holding to 50.4 per
cent of Unibanka's share capital.

The deal requires permissions from the Bank of Latvia and from the Latvian
Securities Market Commission since SEB will own more than 50 per cent of the
shares and votes in Unibanka.

SEB entered into an agreement with Unibanka in November 1998, which gave SEB an
initial holding of 23.1 per cent.  SEB subsequently increased its holding during
the first half of 1999 by acquiring 5.9 per cent from the Latvian Privatisation
Agency, 15.4 per cent from the European Bank for Reconstruction and Development
(EBRD and 4.5 per cent in the market. All this brought SEB's total holding and
voting capacity to 48.8 per cent of Unibanka's share capital by May 10, 1999.

SEB also owns 45.1 per cent of the share capital in Eesti Uhispank (Estonia) and
41.5 per cent of the share capital in Vilniaus Bankas (Lithuania).

For further information, please contact:
Mr Mats Kjaer, Managing Director, SEB Baltic Holding, phone +46-40-6676101,
mobile +46-70-6242677
Mr Boo Ehlin, Head of External Relations, SEB Group Communications, phone
+46-8-7638577, mobile +46-70-7638577
Lotta Treshow, Head of Investor Relations, phone +46 8 763 9559

END


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