SOURCE: Svensk Exportkredit AB (SEK)

May 04, 2006 07:08 ET

SEK: Interim report for the first quarter 2006

STOCKHOLM, SWEDEN -- (MARKET WIRE) -- May 4, 2006 --

Peter Yngwe, President of SEK, comments on the first quarter 2006: Exports are increasingly important to the Swedish economy. 49% of Sweden's GNP is due to exports, the highest level ever.

During the first quarter SEK inreased its volume of new customer transactions to 15,279 Mkr, an increase by approximately 60%. Our increased business volume compensated lower margins resulting in an operating profit approximately at the same level as the first quarter last year; 135.8 Mkr (125.6).

SEK's special capacity to supply long-term credits has been mostly exploited by forestry and mining industry groups. This is a very positive development, especially as the loans are financing energy and environment-friendly investments. I am also satisfied with the much higher total volume of new lending.

The Interim report is appended.

http://hugin.info/132909/R/1049073/173072.pdf

For further information, please contact:
Peter Yngwe, President, +46-8-613 83 00, or Lars M Andersson,
Information Manager,
+46-8-613 84 05
SEK engages in financing operations and in so doing mainly promotes the development of Swedish enterprise and the Swedish export industry, and also generally engages in Swedish and international financing operations on a commercial basis. SEK mainly finances its operations by issuing bond loans in international capital markets. SEK's balance sheet and assets maintain a high quality. SEK's ratings from Standard & Poor's and Moody's for long-term liabilities are AA+/Aa1, respectively. Also see SEK's website: www.sek.se


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