61KN Westpac 24 S

RNS Number:7034L
Skandinaviska Enskilda Banken
5 June 2000


Pengar i Sverige AB takes over SEB's cash handling

SEB and Pengar i Sverige AB have signed a long-term agreement covering SEB's
cash handling.  The agreement is the first step toward SEB's cash-processing
centers in Stockholm, Gothenburg and Malmo being taken over by Pengar i Sverige
AB.

"This is a step in SEB's strategy of streamlining and focusing on core
operations.  As a result of this move, we will enhance the efficiency and
significantly reduce the costs for our cash processing, concurrent with our
costs becoming solely variable.  Some 20 employees will join PSAB in conjunction
with the takeover of operations," says Ulf Peterson, responsible for Business
Support & Production.

"The transaction is a step in our expansion.  With this set-up, we offer SEB a
variable instead of a fixed cost.  Through our close cooperation with our
customers, we strive to continuously reduce their costs for cash handling," says
Gunnar Malm, president of Pengar i Sverige AB.

Pengar i Sverige AB is a wholly owned subsidiary of the Swedish Riksbank
(Central Bank).  The company was formed in 1999 to develop and operate an
effective infrastructure for cash handling in Sweden on commercial terms.  The
organization is divided into four regions (regional offices in Harnosand,
Stockholm, Linkoping and Molndal), with a total of seven offices and a number of
service points.  Each region is responsible for its own business.  The company
has sales of SEK 130 M and 250 employees.

SEB is a European bank - since the acquisition of the German BfG Bank in 1999 -
with a focus on e-banking, savings markets and Nordic, international growth
companies.  SEB is one of the largest financial groups in the Nordic region,
with SEK 930 billion in funds under management.  The group is represented in
more than 20 countries and has approximately 20,000 employees.  Visit
www.seb.se, www.seb.net for more information.

For further information, contact:

Jan-Erik Lindgren, Marketing Manager, PSAB, +46 708 353636, or
Ulf Peterson, SEB, Business Support & Production, +46 639 1405, +47 70 638 4326.

END

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