Nordea receives Basel II approval from FSAs

Nordea has received approval from the Nordic FSAs to calculate
risk-weighted exposure amounts using the Internal Rating Based (IRB)
approach for its Retail portfolio. Thereby 82% of Nordea's credit
portfolio will be reported according to the IRB method. The approval
leads to a reduction in RWA of approx. 14% as of end September 2008.
The reduction leads to a corresponding increase in Tier 1 ratio to
9.2% as of end September. The core Tier 1 ratio, excluding hybrid
capital, amounts to 8.3%. Both numbers are excluding the transition
rules valid until 1 January 2010. Hence, Nordea's capital position is
among the strongest in the Nordic region as well as in Europe.

- I am very satisfied that Nordea has received this approval. This
demonstrates the strength of our capital and risk management systems,
says Fredrik Rystedt, Chief Financial Officer at Nordea.

Calculation and reporting of capital adequacy as per end December
2008 will be in accordance with the IRB method.


For further information:
Fredrik Rystedt, Group CFO, +46 8 614 7812
Johan Ekwall, Head of Investor Relations, +46 8 614 7852 or +46 70
607 92 69
Lauri Peltola, Head of Group Identity and Communications, +46 8 614
79 16 or +358 50 570 5606