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SpareBank 1 SMN (OSL:MING) MING-Satisfactory Banking Operations At SMN

SpareBank 1 SMN (OSL:MING) Tore Øystein Gløersen, chief analyst at Landsbanki, has presented an analysis of SpareBank 1 SMN at a seminar on primary capital certificates held by the Norwegian Savings Banks Association on Wednesday 17 September 2008.

"Underlying banking operations at SpareBank 1 SMN are on a satisfactory path and in keeping with the bank's plans for 2008," says President and CEO Finn Haugan at SpareBank 1 SMN, commenting on the analysis.

"SpareBank 1 SMN is also affected by the international financial turbulence, but the bank has low exposure to securities markets and losses recorded as a result of increases in spread on the bank's bond holdings and value falls on the bank's equity holdings are relatively moderate. The bank has no direct exposure to Lehman Brothers", says Mr Haugan.

The Board of Directors of SpareBank 1 SMN considers that the bank has a dividend capacity enabling the Board to recommend a cash dividend of NOK 4 to 6 for the financial year 2008. The Board has no plans to recommend a dividend issue.

"The situation in the international financial markets appears confused and of course allowance is made for the possibility that external events that are currently unforeseeable will change this view," Finn Haugan emphasises.

SpareBank 1 SMN

www.smn.no

ISIN: NO0006390301

Stock Identifier: XOSL.MING

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SpareBank 1 SMN

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