1. Handelsbanken sells
SPP to Storebrand

2. The transaction Handelsbanken Handelsbanken
SPP Livförsäkring AB
Handelsbanken Liv
SPP Irland (3)
Fonder AB
SPP Fonder AB
Varumärkes AB
Nordben
Included in the transaction
50%
SPP Livförsäkring AB and related subsidiaries are being sold for SEK 18.0bn in cash. The following companies are also included in the transaction
SPP Fonder
SPP Ireland(1)
Handelsbanken Varumärkes AB
50% share of Nordben
Capital gain of approx. SEK 4.0(2) bn
During a transitional period, SPP's assets will continue to be managed by Handelsbanken
Handelsbanken’s mutual funds will be part of Storebrand's range
Storebrand has an exclusive right, within a two-year period, to acquire Handelsbanken Liv's occupational pensions portfolio
(1) Only occupational pensions – the remainder stays with Handelsbanken Liv
(2) Before any restructuring costs
(3) Handelsbanken Life & Pension’s name is being changed to SPP Irland
Handelsbanken

3. A good deal for all parties
Customers
Access to a broader range of competitive and innovative solutions
Become customers of a Nordic occupational pensions company with a strong track record
Carefully selected purchaser
Employees
Will move to a group with an explicit focus on occupational pensions
Storebrand is one of the oldest life insurance companies in the Nordic region
Storebrand plans to invest in the Swedish operations
Storebrand
Will gain a strong position on the Swedish occupational pensions market
SPP is one of the leading insurance companies with a strong brand name and broad distribution
Gains new and unique expertise
Handelsbanken
An attractive offer
Frees up resources
The Group's complexity, risks and volatility in the financial results will decrease
Handelsbanken

4. Why Handelsbanken is selling SPP
Focus on core business
SPP's products are sold via different channels than the Bank's branches
Handelsbanken Liv will continue to focus on long-term savings
Increased value
An attractive offer- SEK 18.0 bn for SPP - values SPP at 14.5 times profits 06PF (2006 pro forma) (1)
Makes a capital gain of approx. SEK 4.0bn (1)
Positive impact on RoE and EPS compared with consensus estimates
Reduced risk exposure
Capital can be used for organic growth and buyback of shares
Tier 1 capital ratio rises by around 20bp before buybacks
Volatility in the Bank’s financial results reduced
A good deal
for all parties
Partnership with Storebrand benefits customers, employees and shareholders
Increased value for the shareholders
(1) Excluding Deferred capital contribution and hedge
(2) Profit before possible provisions
Handelsbanken

5. Why Handelsbanken is selling SPP
Reduced financial risks in SPP
The right time
Reduced volatility in Handelsbanken's income statement
Change in deferred capital contribution incl. hedges, net
Handelsbanken

6. Why Handelsbanken is selling SPP
Improved administration result (incl. SPP Fondförsäkring)
The right time
Growth in premium income and new premiums, SPP
Handelsbanken
* Excluding a major portfolio transfer of SEK 7.7bn.

7. SPP over a six-year period – cash flow summary
SEK bn
+ 2.7
- 7.1
+ 0.7
Operations ~ + 1.5
- 7.8
- 15.3
18,0
- 2.6
Acquisition
2001
Capital-
isation
Net
DCC
Asset
Manage-ment
Yield
split
Other
operations
Tax
effects
Total
excl.
subordinated loans
Sales
price
Financed with Tier 2 capital
Handelsbanken

8. Handelsbanken Liv – a vital part of Handelsbanken’s customer offering
focuses on long-term savings
is fully integrated with the branch operations
is an important part of the Bank’s product range
– insurance is necessary in order to offer a complete range of products
will in future be reported within the Asset Management business area
Handelsbanken

9. Lower volatility - reduced risk
Key figures
30 June 2007
Handels-banken Liv
SPP and subsidiaries
Share
Assets managed (SEK bn)
of which:
64.5
125.5
- Unit-linked (SEK bn)
36.3
56%
31.0
25%
- Traditional (SEK bn)
28.2
44%
94.5
75%
Profit after tax (SEKm)
223
487
Share
Handelsbanken moves from traditional insurance to a higher proportion of unit-linked insurance
Life expectancy risks are reduced
Exposure to asymmetric market risks (yield split/DCC) is reduced
Handelsbanken

10. Financial effects of the transaction
Profit
Volatility substantially reduced following the sale of SPP
Earnings per share expected to increase from 2008 relative to consensus estimates
Capital
Capital can be used for organic growth and/or buyback of shares
Tier 1 capital ratio goes up by around 20bp before buyback of shares
Return on equity
Equity is re-invested in operations with higher return or returned to the shareholders
Return on equity is expected to increase from 2008 relative to consensus estimates
Handelsbanken

11. Appendix: Key figures, pro forma
Handelsbanken Liv
SPP and subsidiaries
30 Jun 2007
31 Dec 2006
Balance sheet
Assets managed (SEK bn)
64.5
58.9
125.5
112.1
Subordinated loans (SEK m)
1 129
1 600
Income statement (SEK m)
Premium income
4 627
8 465
4 916
8 170
Administration result 77
124 70 43
Risk result
104
218
127
352
Financial result
Of which DCC and hedges 35 -4
212 -3 2 54
1 579
+1 045
Profit after tax
223
558
487
2 056
Handelsbanken