Reclassification of fixed-income securities - I...

SEB has decided to reclassify SEK 99bn of its fixed-income securities
as loans and receivables with effect from July 1. The
reclassification includes SEK 13bn of assets held-for-trading and SEK
86bn of assets in the available-for-sale category.

SEB has the intention and ability to hold these securities for the
foreseeable future or until maturity. All assets are of high quality
and performing as regards amortisations and interest payments. Thus,
the classification as loans and receivables better reflects the
purpose of these holdings and avoids further short-term
mark-to-market volatility in income and equity.

The reclassification is in agreement with the amended standards of
IAS 39 and IFRS 7 which were decided by IASB and endorsed by EU in
mid-October. As notified in the latest interim report as of October
23, SEB has evaluated the amended standards. The decision to
reclassify the securities was taken on October 31.

As a consequence, the following changes are made to the financial
reporting for the third quarter 2008:
- operating profit increases with SEK 516m to SEK 2,526m (2,010);
- net profit increases with SEK 372m to SEK 1,885m (1,513); and
- total equity increases with SEK 1,797m to SEK 77,601m (75,804).

The reclassification has a limited effect on risk weighted assets and
no material effects on the tier 1 and total capital ratios.

For further information, please visit www.sebgroup.com.
SEB is a North European financial group serving some 400,000
corporate customers and institutions and five million private
individuals. SEB offers universal banking services in Sweden, Germany
and the Baltic countries - Estonia, Latvia and Lithuania. It also has
local presence in the other Nordic countries, Poland, Ukraine and
Russia and a global presence through its international network in
another ten countries. On 30 September 2008, the Group's total assets
amounted to SEK 2,416bn, while its assets under management totalled
SEK 1,244bn. The Group has about 22,000 employees. Read more about
SEB at www.sebgroup.com.

_____________________________________________
For further information, please contact:
Jan Erik Back, CFO [phone]
Ulf Grunnesjö, Head of Investor Relations, [phone], + 46 70
763 8501


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