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SEB continues to grow in Europe -steps in to Poland

Skandinaviska Enskilda Banken, SEB, has acquired a strategic stake in the Polish bank, Bank Ochrony SSrodowiska, BOS. SEB owns now 31,9 per cent of the shares and votes in BOS. A presence in Poland fits well with SEB's strategy to grow in Europe. Through the aquisition SEB reaches a new market with a population of almost 40 million and a growing economy.

BOS, which was founded in 19990, is a medium-sized bank with its head office in Warsaw. It is active both in corporate and private segments. As of June 30, 2000, BOS had total assets of MSEK 9.635, 1,660 employees and 55 branches.

"SEB has now reached the goal to be represented around the whole region of the Baltic Sea. Bank Ochrony SSrodowiska is a modern bank and I think SEB can contribute with its experience of international banking and e-banking", says Lars Thunell, President and SEB Group Chief Executive.

In connection with the acquisition SEB will have four representatives in the Supervisory Board of BOS.