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Restatement of SEB's 2004 accounts

On 3 May 2005, SEB will present its interim report for the first quarter of 2005, prepared in accordance with International Financial Reporting Standards (IFRS).
The main effects of the introduction of the new accounting standards have already been described in SEB's Annual Accounts and Annual Report. In order to facilitate the interpretation of the forthcoming interim report, the changed format and the restated figures for the quarterly results of 2004 is now available on www.sebgroup.com. Quarterly results, pro forma, for the years 2001 to 2003 will also be available on the website.
Please find enclosed a brief presentation of the main IFRS-related changes in SEB's financial accounts, as well as tables with bridges of the restatement of Equity, the Profit and Loss accounts and Balance Sheet as previously reported and restated according to IFRS.
The SEB Group is a North European financial group for corporate customers, institutions and private individuals, with 680 branch offices around Sweden, Germany, the Baltic countries, Poland and Ukraine. SEB has more than 5 million customers, of whom 1.9 million use the internet for their banking transactions. On 30 December 2004, the Group's total assets amounted to SEK 1,591bn while its assets under management totalled SEK 886 bn. The Group is represented in some 20 countries around the world and has a staff of about 19,000. Read more about SEB at www.sebgroup.com.