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Following the announcement that Lehman Brothers Holdings Inc. has requested bankruptcy protection, and relating questions from investors, SEK wants to give the following information.
SEK has a number of derivative contracts with different units within Lehman Brothers as counterparties. All outstanding derivative contracts are regulated by ISDA agreements with security agreements. The net exposure in these transactions, net of collateral, is insignificant.
Since Monday SEK is working to replace most of its derivative contracts with Lehman Brothers with new contracts with other counterparties. SEK estimates that the company will not suffer any material replacement costs.
SEK has no other exposure to Lehman Brothers.
For more information please contact Peter Yngwe, CEO of SEK, +46 8 613 83 00, or Johan Winlund, Head of Communications at SEK, +46 8 613 84 88.