Swedbank Mortgage converts to covered bonds

Press Release 11 April 2008

Swedbank Mortgage converts to covered bonds

On 21 April, Swedbank Mortgage, Swedbank Group's mortgage institution, will
convert to covered bonds as its primary funding source. The transition will take
place through a conversion of outstanding long-term funding to covered bonds
with AAA rating from Standard and Poor's and 
Aaa rating from Moody's. After the conversion, Swedbank Mortgage will issue
covered bonds with the same rating.

“Swedbank is active on capital markets worldwide and we have noticed a great
deal of interest for Swedbank Mortgage's covered bonds” says Jan Lilja,
President of Swedbank Mortgage. “Standard and Poor's and Moody's have now
confirmed the very high quality of our loan portfolio by awarding the highest
rating, AAA, on our covered bonds. “

The conversion will give Swedbank Mortgage access to even more categories of
investors and can thereby further broaden the investor base. Ultimately, this
will enable Swedbank Mortgage to continuously offer attractive prices to the
mortgage customers.

Bondholders affected by the conversion will receive a separate message about
this.  


For further information, please contact:
Mikael Inglander, CFO, Swedbank, phone: +46 8 585 913 14
Jan Lilja, President, Swedbank Mortgage, phone: +46 70 662 87 26


Swedbank's vision is to be the leading financial institution in the markets
where we are present. Swedbank has 9 million retail customers and 600,000
corporate customers with more than 459 branches in Sweden, 300 branches in the
Baltic countries and another 190 branches in Ukraine. The group is also present
in Copenhagen, Helsinki, Kaliningrad, Luxembourg, Marbella, Moscow, New York,
Oslo, Shanghai, St. Petersburg and Tokyo. As of December 2007 the group had
total assets of SEK 1,600 billion and approximately 22,000 employees. For more
information about Swedbank, please visit www.swedbank.com.