61KN Westpac 24 S

RNS Number:6658C
Skandinaviska Enskilda Banken
16 December 1999

                      SEB incorporates IT operations

SEB continues to incorporate parts of its operations and business areas.
From 1 April 2000 SEB IT will be incorporated. Supplier responsibility will be
clarified by the forming of two independent companies that are wholly owned by
the bank. SEB IT Service AB will take over responsibility for day-to-day running
and service. SEB IT Partner AB will be responsible for development and
administration. Each of these companies will have around 500 employees.
Furthermore, a third company, SEB IT Holding AB, will be formed. This company
will own both the aforementioned companies, but will have no employees.

Lars Gustafsson, Executive Vice President of SEB and Head of SEB IT, will have
overall responsibility for the three companies. He also becomes CIO (Chief
Information Officer), thereby taking over responsibility for control and
follow-up of all IT operations of the SEB Group.

This decision is a natural step in the structural changing of SEB IT's total
operations that will lead to each individual area within the SEB Group being
responsible for ordering IT-related operations and development.

"These companies will clearly become suppliers and, in a completely different
way from today, will be comparable with the competition," says Lars Gustafsson,
Executive Vice President of SEB and Head of SEB IT. 

For further information, please contact:
Lars Gustafsson, Executive Vice President, SEB 
Telephone +46 8-639 29 40, +46 8 70-763 8003
Gunilla Wikman, Head of Group Communications, SEB
Telephone +46 8 -763 81 25, +46 8 70-763 81 25

END
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