New Issue: Wachovia, Wells Fargo price $14.625 million Nikkei 25 Index Call Warrants for Eksportfinans

By Angela McDaniels

Seattle, Nov. 3 - Eksportfinans ASA sold $14.625 million of Index Call Warrants expiring Oct. 20, 2008 linked to the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.

Wachovia Capital Markets LLC and Wells Fargo Securities, LLC are the co-lead underwriters for the offering in a syndicate that also includes Wedbush Morgan Securities and Andrew Garrett Inc.

The warrants are exercisable on the 20th day of each January, April, July and October beginning in January 2007.

Upon exercise of each warrant, investors will receive the notional amount of the warrant, $52.00, multiplied by the percentage change in the Nikkei 225. The notional amount is the Nikkei 225 exposure that each warrant effectively controlled on the pricing date.

Issuer:	Eksportfinans AS
Underwriters:	Wachovia Capital Markets LLC, Wells Fargo Securities, LLC (co-leads), Wedbush Morgan Securities, Andrew Garrett Inc.
Issue:	Index Call Warrants
Underlying index:	Nikkei 225
Amount:	$14.625 million
Units:	2.25 million
Expiration:	Oct. 20, 2008
Price:	$6.50 for up to 250,000 warrants, $6.25 for 250,000 warrants or more
Payout upon exercise:	$52.00 multiplied by the percentage changed in the Nikkei 225
Initial index level:	16,339.39
Pricing date:	Oct. 11
Settlement date:	Oct. 16
Listing:	"NKI.WS" on the American Stock Exchange
Underwriting discount:	692 basis points

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