New Issue: Merrill Lynch sells $39.53 million Accelerated Return Notes on MSCI EAFE for Eksportfinans

By Susanna Moon

Chicago, Feb. 1 - Eksportfinans ASA priced $39.53 million of 0% Accelerated Return Notes due March 25, 2011 based on the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.

Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.

The payout at maturity will be par of $10.00 plus triple any index gain, up to a maximum payment of $11.815 per note.

Investors will be exposed to any losses.

Issuer:	Eksportfinans ASA
Issue:	Accelerated Return Notes
Underlying index:	MSCI EAFE
Amount:	$39.53 million
Maturity:	March 25, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any index gain, up to maximum return of 18.15%; exposure to losses
Initial index level:	1,517.20
Pricing date:	Jan. 28
Settlement date:	Feb. 4
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	2%
Cusip:	282645498

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