SpareBank 1 SR- Bank Group 2nd Quarter 2005

2 Very good results- low level of loss and high return on financial investments Group profit before tax: NOK 498 million (NOK 367 million).  High return on equity after tax: 22.5 % (19.3 %).  Annual lending growth (12m growth): 12,7% (8,4%) including Corporate Market: 17,2% and Retail Market 10,7%.  Annual growth in deposits from customers (12 m growth): 17 % (10.6 %), including Corporate Market 7,3% and Retail Market 28,8%.  Net loss: NOK 2 million (NOK 62 million).  Net revenue on financial investments: NOK 155 million (NOK 104 million)  Net commission income: NOK 177 million (NOK 161 million).  Result pr PCC: NOK 8,6 (NOK 6,6). (Figures from corresponding period in 2004 in parenthesis)

3 Profit and loss account

4 Key Figures *Excluding gain/loss on securities trading **Excl. EUR 270 mill revolving credit facility

5 Underlying banking operations

6 Change in net interest income

7 Development in interest margins

8 Strong growth in lending to the corporate market

9 High growth in deposits from corporate customers

10 High return on financial investments

11 Healthy growth in net commision- and Other operating income

12 Other operating income in % of total income is increasing *Excluding gain/loss on securities trading, dividend and ownership stakes Financial statements before 2004 is not prepared according to IFRS

13 Subsidiaries

14 Operating costs

15 Cost/income ratio - parent bank Figures prior to 2004 are calculated according to NRS (Norwegian accounting standards) Excluding gain/loss on securities trading

16 Loss on loans and guarantees

17 Gross non-performing loans

18 Financial Goals *SR-Bank’s goal is to achieve a 15% return on equity, or to achieve a return on equity that places the bank among the top 1/3 of all comparable banks operating within Norway.

19 Market trends - Corporate market Higher level of investments within local business and industry Good results Focus on off-balance products an increase of 28% in income on off-balance products compared to the same period last year Positiv development in the risk profile of the credit portfolio a low level of loss and default High level of customer satisfaction Emphasis on the market for occupational pensions

20 Market trends - Retail market The development in the Retail market has been good in the last 6 months, and has been characterised by good growth in balance Increased other operating income Low level of loss The retail market has had a particularly strong development within deposits, loans and productareas generating other operating income. A new office, which has been very well received has been opened in Grimstad. New products have been launched: Savings-/Pensions- related Car financing Youth concept

21 Sparebank 1 SR-Bank expands market area - opens new office in Bergen l We consider Hordaland an exiting and attractive market. l The expansion to Bergen/Hordaland is based on an established and profitable market consept. l The office will be in operation in the course of the first half of l Two appointmenst have been made: Regional Director Corporate Market, and Regional Director Retail Market l The office will start off with 15 employees. l We currently have approx customers in Hordaland, representing a lending volume of approx. 2,2 bn NOK.

22 Basel II lLevel of Ambition Sparebank 1 SR-Bank –Credit risk IRB Foundation for the Corporate Market Portfolio IRB Retail for the Retail Market Portfolio –Operational risk Standard method lPlan of implementation –All methods from lStatus –A task gruop was established for the Basel II preparations in 2002 –Basel II adjustments are going according to plan, and a formal application will be sent to The Financial Supervisory Authority of Norway within

23 The Primary Capital Certificate - ROGG l Split and emisjon carried out in Q l Trading volume Q2: 10,7 % (6,7 %*) l Number of ROGG owners: (7.840) l Distribution of owners: –Owners from Rogaland and Agder: 45,2 % (47,2 % only Rogaland) –Non-domestic owners: 18,3 % (14,8 %) – 10 largest owners: 25,8 % (25,9 %) –20 largest owners: 31,6 % (32,5 %) l Dividend yield **: –ROGG: 35,6 % –GFBX: 19,7 % –OSEBX: 19,7 % *(Q in paranthesis) **Rise in share value + paid dividend expressed as a percentage of the share value

24 Rising share value

25 APPENDIX

26 Key Figures - ROGG

27 Balance sheet

28 Capital adequacy

29 Continued pressure on margins - Corporate Market

30 Continued pressure on margins - Retail Market

31 Lending by industry Share of total lending as of

32 Rating

33 SpareBank 1 SR-Bank Established in 1839 Main Office in Stavanger 50 offices in South-Western Norway More than customers Chairman of the Board: Geir Worum Chief Executive Officer: Terje Vareberg Chairman Supervisory Board: Einar Risa Chairman Audit Committee: Odd Rune Torstrup External Auditor: PricewaterhouseCoopers

34 EM 1 Rogaland AS 100 % SB1 SR-Finans AS 100 % SpareBank 1 Gruppen AS 17.6 % 3 Real-estate agency: ú House ú Business ú Project 3 Market leader in Rogaland 3 Leasing 3 Financing 3 ODIN Forvaltning AS 3 SpareBank 1 Livsforsikring AS 3 SpareBank 1 Skadeforsikring AS 3 SpareBank 1 Fondsforsikring AS 3 First Securities ASA 3 Bank 1 Oslo AS 3 SpareBank 1 Bilplan AS SR-Forvaltning ASA 67 % 3 Asset Management

35 Corporate values Vision: SpareBank 1 SR-Bank – the recommended bank The Courage of Conviction, the Strength to Create. Open and Honest Responsibility and Respect Responsibility and Respect Will and Ability to Improve Will and Ability to Improve Through being Through showing Through having A Long- term Perspective A Long- term Perspective

36 Strategy SpareBank 1 SR-Bank shall be a profitable and solid bank that is attractive to customers, capital markets, owners and employees. Through:  A savings bank philosophy with a strong brand and modern bank operations, where value is created locally and plowed back into the local community.  Clear prioritization based on customer needs and profitability.  Our market area is primarily Rogaland, Agder and Sunnhordland.  Clear position in the savings/pension market.  Competent employees who are proud to work for SpareBank 1 SR-Bank.

37 Owners 17.6%19,5%17.6% 10% SpareBank 1 SR-Bank SpareBank 1 Midt-Norge SpareBank 1 Midt-Norge SpareBank 1 Nord-Norge SpareBank 1 Nord-Norge Cooperating Sparebanker AS LO og fagforbund LO og fagforbund Förenings- Sparbanken Förenings- Sparbanken SpareBank 1 Gruppen AS SpareBank 1 Livsforsikring AS (100%) SpareBank 1 Skadeforsikring AS (100%) Bank 1 Oslo AS (100%) SpareBank 1 Fondsforsikring AS (100%) First Securities ASA (33%) First Securities ASA (33%) SpareBank 1 Bilplan AS (67%) SpareBank 1 Bilplan AS (67%) ODIN Forvaltning AS (100%) ODIN Forvaltning AS (100%) Eiendoms- Megler 1 FSPA/ Swedbank Oslo FSPA/ Swedbank Oslo SpareBank 1-banks 290 offices/meeting places/distribution units 37 Customers

38 Bjergsted Terrasse 1 Financial Calendar: P.O. Box kvartal 0525.oktober 4001 Stavanger Chief Executive Officer: Terje Vareberg For further information, please contact: Sveinung Hestnes, Deputy CEO and CFOTel: Tor Dahle, Executive Group Controller Tel: Seri Berge Tel: SwitchboardTel: Intformation on the internet: SR-Bank’s web site: Hugin-Online: