SEB Financial Officers' Index: Business confide...

Swedish financial officers are more pessimistic. The latest survey
shows respondents increasingly worried about the weakening business
cycle with lower demand seen as the main cause for concern. At the
same time officers were significantly less bothered by the threat of
rising raw material costs. All participating financial officers were
confident that profits will rise in 2008 driven mainly by price hikes
and volume increases.


The Financial Officers' survey indicates that the business climate is
weakening.

SEB's Financial Officers' survey, addressed to around 50 of  Sweden's
largest companies, shows respondents  becoming more negative  towards
the overall  business  climate  and  their  own  company's  financial
position. SEB's  Financial Officers'  Index for  September  published
today stands at 56, down from 59  in May, but well above its  neutral
level of 50.

"While an increasing number of financial officers regard the business
climate as less favorable and  report that demand is weakening,  most
respondents retain a positive view on the overall climate", says Ebba
Lindahl, credit strategist at  SEB and co-author  of the report  with
Monica Ochman.

The  Financial  Officers'  survey  also  shows  that  banks  are  now
substantially less willing to lend.

"The declining willingness to lend  could eventually lead to  reduced
investments by companies. That might in turn weigh on economic growth
in Sweden", says Ochman.

The Financial Officers Survey  also shows respondents less  concerned
by higher raw material costs.

"Reduced concerns  regarding raw  material  costs could  explain  why
expected price  increases on  the companies'  own products  have  not
changed significantly since May", says Lindahl.

This is the tenth publication  of SEB's Financial Officers' Index,  a
unique quarterly  survey  whose  purpose is  to  reflect  changes  of
sentiment  in   the   financial  environment   and   facilitate   the
understanding of economic and financial trends. The survey  comprises
a total  of 14  questions covering  areas such  as business  climate,
strategic investments, employment, views  on currencies and  interest
rates, financial strength,  and lending  attitudes amongst  financial
institutions.  The  full   report  (in  Swedish)   is  available   at
www.sebgroup.com\press.


___________________________________________________

For further information, please contact:
Ebba Lindahl, Trading Strategy, SEB, tel. [phone]
Elisabeth Lennhede, Press Officer, tel. [phone]