61KN Westpac 24 S

RNS No 8354j
SKANDINAVISKA ENSKILDA BANKEN
2 September 1999


SEB finalises take-over of Codan Bank

Since the agreement between Skandinaviska Enskilda Banken and
Forsikringsselskabet Codan has received the approval of the authorities, SEB has
now taken over the entire share capital of Codan Bank, 49 percent of the shares
of Codan Link and 15.8 per cent of the shares of Amagerbanken.

All that remains for completion of the take-over of Trygg-Hansa Forsakrings AB
(non-life operations) by Forsikringsselskabet Codan is approval by the
authorities in New York, where Trygg-Hansa Forsakrings AB has a branch office.
Such approval is expected to be obtained before the end of September.

For further information, please contact:
Gunilla Wikman, Head of Group Communications at SEB
Telephone: +46 8 763 81 25


END

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