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Aktia Savings Bank plc Stock Exchange Release 16.9.2008 at 3 p.m.
Lehman Brothers Holdings Inc. announced on Monday 15 September 2008, that it would file for Chapter 11 protection. For this reason, Aktia Savings Bank plc has decided to disclose information on its exposure to Lehman Brothers. Aktia Savings Bank has bond receivables at a nominal value of EUR 2.5 million from Lehman Brothers Holdings Inc., and their market value stood at EUR 700,000 thousand on 16 September 2008. In addition to this, Veritas Life Insurance has bond receivables at a nominal value of EUR 2 million in its investment portfolio. As part of its capital market operations, Aktia has concluded derivative contracts to which Lehman Brothers Special Financing Inc. within Lehman Brothers Holdings Inc. is the counterparty. The net exposure related to these contracts is minor. Aktia tries to convert all of the derivative contracts with Lehman Brothers Special Financing Inc. into contracts concluded with other counterparties. The resulting expenses are expected to be low.
AKTIA SAVINGS BANK PLC
For further information, please contact Jukka Sarkanen, Director, Treasury and Group Financing, Tel. +358 10 247 6509
From: Malin Pettersson, Head of Communications, Tel. +358 10 247 6369
