Swedbank A

Share Issue/Capital Change • Mar 2, 2010

Change of the distribution of shares in Swedbank due to conversion of preference shares to ordinary shares

Press Release March 2, 2010

Change of the distribution of shares in Swedbank due to conversion of

preference shares to ordinary shares

The allocation of shares in Swedbank AB ("Swedbank") has changed due to

owners of preference shares having requested during the month of

February 2010 conversion of an aggregate of 12,362,751 preference shares

into ordinary shares pursuant to the conversion clause set forth in

Swedbank's articles of association.

After the conversion, the number of ordinary shares in Swedbank amounts

to 952,316,334 and the number of preference shares amounts to

207,273,843. The total number of shares and votes is unchanged and

amounts to 1,159,590,177. The conversion has been filed for registration

with the Swedish Companies Registration Office and is expected to be

finalized by registration with Euroclear Sweden AB around March 4, 2010.

Pursuant to the conversion clause, an owner of a preference share is

during the months of February and August each year, from and including

August 2009 to and including February 2013, entitled to request that

such shareholder's entire holding of preference shares are converted

into ordinary shares. All remaining preference shares will be subject to

mandatory conversion into ordinary shares during the month immediately

following the month in which the Annual General Meeting 2013 is held,

however, not earlier than the day after the record day for any right to

receive dividends resolved at such Annual General Meeting.

Further information, please contact:

Johannes Rudbeck, Head of Investor Relations, Swedbank, phone: +46 70

582 56 56

Anna Sundblad, Press Officer, Swedbank, phone: +46 70 321 39 95

Swedbank's vision is to be the leading financial institution in the

markets where we are present. Swedbank has 9.5 million retail customers

and 550,000 corporate customers with 381 branches in Sweden, 226

branches in the Baltic countries and another 156 branches in Ukraine.

The group is also present in Copenhagen, Helsinki, Kaliningrad,

Luxembourg, Moscow, New York, Oslo, Shanghai, S:t Petersburg and Tokyo.

As of December 31 2009 the group had total assets of SEK 1,795 billion

and approximately 19,000 employees. For more information about Swedbank,

please visit www.swedbank.com