Svensk Exportkredit AB (SEK): Continued high readiness for financing of the Swedish export industry

AB Svensk Exportkredit's (SEK) earnings for the first nine months of the year
were strong. We have significant capacity to provide the Swedish export industry
with large volumes of long-term financing if the economic situation in the
financial markets deteriorates.

  * Operating profit (IFRS) for the first nine months of 2011 amounted to Skr
    1,210.2 million (9M10: Skr 971.7 million)
  * Adjusted operating profit (Core Earnings, ie the result excluding unrealized
    changes in value) for the first nine months of 2011 amounted to Skr 1,107.7
    million (9M10: Skr 1,048.6 million)
  * The volume of new customer financing solutions for the first nine months of
    2011 amounted to Skr 34.2 billion (9M10: Skr 39.1 billion) and the volume of
    outstanding offers for loans amounted to Skr 60.3 billion at the end of the
    first nine months of 2011 (Year-end 2010: Skr 86.6 billion)
  * After-tax return on equity amounted to 9.8 percent for the first nine months
    of 2011 (9M10: 7.2 percent)
  * Primary capital relation amounted to 22.6 percent at the end of the first
    nine months of 2011 (Year-end 2010: 22.4 percent)

"The Swedish export industry has high competitiveness. We now see a
significantly higher risk of the economic situation in many of the world's
leading economies making it harder for Swedish exporters to access to finance.
To support the export industry's competitiveness SEK is continued ready to meet
the significant increase in demand for long-term financing from Swedish
exporters that could be the result if the situation deteriorates," said SEK
President Peter Yngwe.

Operating profit was strong, amounting to Skr 1,210.2 million for the period,
compared with Skr 971.7 million for the same period in 2010. The increase in
earnings is mainly due to unrealized changes in fair value and a realized profit
from the sale of SEK's former office building. The result for the third quarter
amounted to Skr 253.3 million, a decrease compared to the same period the
previous year which is mainly due to unrealized changes in fair value.

For questions please contact Johan Winlund, Head of Communications at SEK on
+46 8 613 84 88.


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