New Issue: Wachovia sells $4.56 million 11.5% enhanced yield securities on Arch Coal for Eksportfinans

By Susanna Moon

Chicago, Jan. 18 - Eksportfinans ASA priced $4.56 million of 11.5% annualized enhanced yield securities with contingent downside protection due July 30, 2008 linked to the common stock of Arch Coal, Inc. via Wachovia Capital Markets, LLC, according to a 424B3 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par in cash unless Arch Coal stock falls by more than 30% during the life of the notes - a knock-in event - and the stock finishes below the initial price, in which case the payout will be a number of Arch Coal shares equal to $1,000 divided by the initial share price.

Issuer:	Eksportfinans ASA
Issue:	Enhanced yield securities
Underlying stock:	Arch Coal, Inc. (NYSE: ACI)
Amount:	$4,559,000
Maturity:	July 30, 2008
Coupon:	11.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Arch Coal stock falls by more than 30% during the life of the notes - a knock-in event - and the stock finishes below the initial price, in which case 26.8673 Arch Coal shares
Initial share price:	$37.22
Knock-in price:	$26.054, 70% of initial share price
Pricing date:	Jan. 16
Settlement date:	Jan. 22
Agent:	Wachovia Capital Markets, LLC
Fees:	0.9%

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