Nordea's Report on Capital Adequacy and Risk Management (Pillar 3 Report)

Nordea Group has today published its Annual Report for 2007 and for
the first time also the Pillar 3 Report (Basel II) where Nordea's
risk and capital management is described. Both documents are to be
found on the web-page, www.nordea.com/ir. Printed versions of the
Annual Report will be available beginning of March.

The Pillar 3 report contains a full description of risk and capital
management in Nordea, and information of the capital adequacy process
within the Group.

The second pillar in the Capital Requirements Directive (CRD) is the
Supervisory Review Process, which should ensure that an institution's
Internal Capital Adequacy Assessment Process clearly identifies
material risk and that adequate capital is allocated here fore.
Pillar 2 also includes the evaluation of the capital adequacy made by
the Financial Supervisory Authorities.

The third pillar in the CRD refers to the public disclosure on risk-
and capital management, including how and when an institution will
disclose information on risk- and capital management.

Nordea assesses this reporting as a positive contribution to an
increased risk transparency within the banking industry, in
particular valuable under market conditions characterised by high
uncertainty.

Nordea's total risk weighted amounts (RWA) as of end December
amounted to EUR 205bn, affected by the existing transition rules.
Excluding transition rules RWA would have amounted to EUR 171bn.
Credit exposure totalled EUR 429bn, including off-balance sheet
exposure. The credit risk accounts for approximately 92%, operational
risk 6 % and market risk 2% of the capital requirement.

Out of the total capital requirements for credit risk, 53% have been
calculated with the IRB approach, 43% with the standardised approach
and 4% with the previous regulatory framework (Basel I). All legal
entities within the Nordea Group are reporting in accordance with
Basel II, expect for Nordea Bank Polska S.A., Nordea Bank S.A.
(Luxemburg) and JSB Orgresbank (Russia).

Nordea aims at a tier 1 capital ratio above 6.5% and a total capital
ratio not lower than 9.0%. At the end of 2007 Nordea's tier 1 capital
ratio was 7.0% and total capital ratio was 9.1%.

The disclosed RWAs, Tier 1 ratios and Total Capital ratios are in
accordance with the Minimum Capital Requirement (Pillar 1).

For further information:
Arne Liljedahl, Group CFO/EVP, +46 8 614 79 96
Carl-Johan Granvik, Group CRO, +46 8 614 78 11
Johan Ekwall, Head of Investor Relations, +46 8 614 78 52