Swedbank OAO subject to public authority intervention

Press Release June 7, 2007

Swedbank OAO subject to public authority intervention

The Central Bank of Russia has issued an order to restrict certain operations of
Swedbank OAO in Russia for a period of three months. The central bank quotes
violations of the federal law and the normative acts of the Central Bank on
prevention of illicitly acquired funds. The order is issued as a result of an
audit performed during March-April this year. The following restrictions mainly
concerns the area of correspondent banking, carrying out foreign exchange
operations, attracting new business and interbank loans

- We are currently establishing the further circumstances and have also
requested clarifications. The order was unexpected and we are of course ready to
take necessary measures. Meanwhile we continue to serve clients with respect to
operations not restricted by the order and to minimize the effects for our
clients, says Swedbank CEO Jan Lidén. 

Swedbank is requested to adjust its operations quoted in the order and to
further enhance internal control systems. 

Swedbank Russia today has three branches and a portfolio of approximately SEK
4bn. The total number of employees is 238. 


For further information:
Jan Lidén, President and CEO, Swedbank, phone: +46 8 585 922 21
Erkki Raasuke, Head of Baltic Banking, Swedbank, phone: +372 888 1472
Johannes Rudbeck, Head of Investor Relations, Swedbank, phone: +46 70 582 56 56 




Swedbank's vision is to be the leading financial institution in the markets
where we are present. Swedbank has 8.9 million retail customers and 459,000
corporate customers in Sweden, Estonia, Lithuania and Latvia. In Sweden the
group has more than 470 branches, with another 290 branches in the Baltic
countries. The group is also present in Copenhagen, Helsinki, Kaliningrad, Kiev,
Luxembourg, Marbella, Moscow, New York, Oslo, Shanghai, St. Petersburg and
Tokyo. As of December 2006 the group had total assets of SEK 1,400 billion and
approximately 17,000 employees. For more information about Swedbank, please
visit www.swedbank.com.