Wachovia to price enhanced growth securities linked to IBM for Eksportfinans

By Jennifer Chiou

New York, Jan. 3 - Eksportfinans ASA plans to price 0% enhanced growth securities due Aug. 10, 2009 linked to the common stock of International Business Machines Corp. via underwriter Wachovia Capital Markets, LLC, according to a 424B5 filing with the Securities and Exchange Commission.

Par will be equal to the closing price of one share of IBM stock on the pricing date, which will occur in January. Settlement will occur in February.

If the final share price is greater than the initial share price, the payout at maturity will be par plus double the gain, subject to a maximum return that is expected to be 23% to 25% and will be determined at pricing.

If the final share price is less than or equal to the initial share price, the payout will be:

• Par if IBM stock remains above 85% of its initial share price throughout the life of the notes; or

• One share of IBM stock if the share price ever closes below 85% of the initial share price.

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