New Issue: Merrill Lynch prices $51.3 million notes linked to Rogers commodity index for Eksportfinans

By Angela McDaniels

Tacoma, Wash., Nov. 30 - Eksportfinans ASA priced $51.3 million of 0% Accelerated Return Notes due Feb. 3, 2011 linked to the Rogers International Commodity Index - Excess Return via Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 24.9%. Investors will be exposed to any index decline.

Issuer:	Eksportfinans ASA
Issue:	Accelerated Return Notes
Underlying index:	Rogers International Commodity Index - Excess Return
Amount:	$51.3 million
Maturity:	Feb. 3, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any index gain, up to maximum return of 24.9%; exposure to any index decline
Initial index level:	2,387.23
Pricing date:	Nov. 24
Settlement date:	Dec. 2
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	2%

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