Proposal By Swedbank Mort.

RNS Number:5351K
Swedbank Mortgage AB
21 December 2007

                   Press Release from Swedbank Mortgage AB (publ)
 
                      Proposal by Swedbank Mortgage AB (publ)
           (incorporated with limited liability in the Kingdom of Sweden)
                        (the Company) to the holders of its
Euro500,000,000 4.375 per cent. Notes due 2009 (ISIN: XS0097020910) (the Series 159 Notes)
Y2,000,000,000 1.870 per cent. Notes due 2010 (ISIN: XS01111067523) (the Series 182 Notes)
NOK180,000,000 7.050 per cent. Notes due 2010 (ISIN: XS0145766498) (the Series 294 Notes)
NOK110,000,000 6.910 per cent. Notes due 2012 (ISIN: XS0150887536) (the Series 324 Notes)
SEK205,000,000 Index Linked Notes due 2008 (ISIN: XS0159688265) (the Series 371 Notes)
HKD80,000,000 4.000 per cent. Notes due 2008 (ISIN: XS0165898882) (the Series 402 Notes)
HKD80,000,000 3.950 per cent. Notes due 2008 (ISIN: XS0166934132) (the Series 407 Notes)
HKD80,000,000 3.900 per cent. Notes due 2008 (ISIN: XS0167255107) (the Series 410 Notes)
U.S.$10,000,000 3.150 per cent. Notes due 2008 (ISIN: XS0169110110) (the Series 418 Notes)
HKD95,000,000 3.075 per cent. Notes due 2008 (ISIN: XS0170522766) (the Series 420 Notes)
Y1,000,000,000 Multi-Callable Powered Reverse Dual Currency Instruments due 2033 (ISIN: XS0170186554) (the Series 424 
Instruments)
Y500,000,000 Fixed Rate/FX-Linked Callable Notes due 2023 (ISIN: XS0171857997) (the Series 430 Notes)
HKD100,000,000 3.560 per cent. Notes due 2008 (ISIN: XS0173166645) (the Series 431 Notes)
Y500,000,000 Callable Hyper Reverse Dual Note due 2018 (ISIN: XS0172798745) (the Series 433 Notes)
HKD80,000,000 3.850 per cent. Notes due 2008 (ISIN: XS0173596221) (the Series 437 Notes)
Y1,000,000,000 Callable Hyper Reverse Dual Note due 2033 (ISIN: XS0174053909) (the Series 443 Instruments)
Y1,000,000,000 Callable CMS Spread Linked Note due 2023 (ISIN: XS0174882950) (the Series 448 Notes)
Y1,000,000,000 Fixed Rate/FX-Linked Callable Notes due 2023 (ISIN: XS0175209385) (the Series 450 Notes)
AUD51,000,000 Floating Rate Notes due 2008 (ISIN: XS0178148770) (the Series 461 Notes)
AUD19,000,000 Floating Rate Notes due 2008 (ISIN: XS0178509542) (the Series 462 Notes)
AUD34,000,000 Floating Rate Notes due 2008 (ISIN: XS0180910621) (the Series 464 Notes)
Y10,000,000,000 2.300 per cent. Notes due 2034 (ISIN: XS0187452676) (the Series 488 Notes)
SEK500,000,000 Index Linked Interest Notes due 2015 (ISIN: XS0190092469) (the Series 498 Notes)
                        (each a Series and together, the Notes)


On 18 December 2007, Swedbank Mortgage AB (publ) (the Company) held a series of
meetings of the holders of each Series of Notes (together, the Noteholders) to
approve, by separate extraordinary resolutions (the Extraordinary Resolutions)
pursuant to the terms and conditions of such Notes (the Conditions) and the
Agency Agreements (as defined below) relating to such Notes,, the insertion of a
new condition into the Conditions (the New Condition) such that the Company may,
upon giving notice to the Noteholders in accordance with the New Condition,
modify the Conditions to conform the Conditions to the terms and conditions of
the Company's covered bonds (the S.O. Bonds and S.O. Bond Conditions
respectively) but without changing the economic terms of such Notes, on the
terms described in this Consent Solicitation Memorandum (the Proposals).

Full details of the Proposals are set out in a Consent Solicitation Memorandum
dated 20 November 2007 (the Consent Solicitation Memorandum).


Results of Meetings

In respect of each of the following Series the Extraordinary Resolution was
successfully passed:   Series 424 Instruments, Series 430 Notes, Series 443
Notes, Series 448 Notes, Series 450 Notes, Series 461 Notes, Series 462 Notes,
Series 464 Notes and Series 488 Notes.

In respect of each of the following Series, the meeting was adjourned through
lack of a quorum: Series 159 Notes, Series 182 Notes, Series 294 Notes, Series
324 Notes, Series 371 Notes, Series 402 Notes, Series 407 Notes, Series 410
Notes, Series 418 Notes, Series 431 Notes, Series 433 Notes, Series 420 Notes,
Series 437 Notes and Series 498 Notes (together, the Adjourned Notes).

The adjourned meetings of noteholders to consider and, if thought fit, to pass
an Extraordinary Resolution in respect of each series of the Adjourned Notes has
been convened by the Company to be held on 11 January 2008 at the offices of
Allen & Overy LLP, One Bishops Square London E1 6AO.   The first adjourned
meeting will be held at 10.00am in respect of Series 159 Notes, with Meetings
taking place at 15 minute intervals in respect of subsequent series of the
Adjourned Notes.

The Consent Solicitation Memorandum is available from the Tabulation Agent or
the Solicitation Agent, whose contact details are provided below.

The deadline for giving voting instructions is 10.00am on Wednesday 9 January
2008.  Noteholders should refer to the Consent Solicitation Memorandum for the
procedures which must be followed in order to accept the Proposals.


Requests for information in relation to the Proposals should be directed to:


                        Swedbank Mortgage AB (publ)
                           SE-106 11 Stockholm
                                 Sweden

                       For information by telephone:
                            +46 8 5859 2100
                       Attention: Finance Department

                            Solicitation Agent
                                BNP Paribas
                            10 Harewood Avenue
                              London NW1 6AA
                              United Kingdom
                      For information by telephone:
                            +44 207 595 8668
                  Attention: Debt Restructuring Group
                Email: debt.restructuring@bnpparibas.com


Requests for information in relation to the procedures for delivering Electronic 
Voting Instructions should be directed to:

                             Tabulation Agent
                              Deutsche Bank
                         Deutsche Bank AG London
                            Winchester House
                        1 Great Winchester Street
                             London EC2N 2DB
                        Attention : Claire Barnes
                             +44 20 7547 3765
                          claire.barnes@db.com


DISCLAIMER:  This announcement must be read in conjunction with the Consent
Solicitation Memorandum.  The Consent Solicitation Memorandum contains important
information which should be read carefully before any decision is made with
respect to the Proposal.  If any Noteholder is in doubt as to the action it
should take, it is recommended to seek its own financial advice, including in
respect of any tax consequences, immediately from its stockbroker, bank manager,
solicitor, accountant or other independent financial adviser.  Any individual or
company whose Notes are held on its behalf by a broker, dealer, bank, custodian,
trust company or other nominee must contact such entity if it wishes to vote in
respect of the Proposal.  None of the Company, the Solicitation Agent, the
Tabulation Agent or any of the Paying Agents for the Notes makes any
recommendation as to whether or not or how holders of Notes should vote in
respect of the Proposal.

The distribution of this announcement and the Consent Solicitation Memorandum in
certain jurisdictions may be restricted by law and persons into whose possession
this announcement and the Consent Solicitation Memorandum comes are requested to
inform themselves about, and to observe, any such restrictions.





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            The company news service from the London Stock Exchange

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