Eksportfinans to price 15% reverse convertibles linked to banking basket via Natixis

New York, July 25 - Eksportfinans ASA plans to price 15% reverse convertible securities due Aug. 8, 2008 linked to a banking basket consisting of Bear Stearns Cos. Inc., Goldman Sachs Group, Inc., JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and Merrill Lynch & Co., Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The securities are expected to price on Aug. 3 and settle on Aug. 8.

At maturity, investors will receive par unless any of the stocks falls below its knock-in price, 70% of its initial share price, during the life of the notes and any of the stocks finishes below the initial share price.

If such a knock-in event occurs and if one of the reference stocks closes below its initial level, investors will receive a number of the worst-performing reference shares equal to the share redemption amount of that stock.

The share redemption amount will be equal to $1,000 divided by the initial share price of the worst performing stock.

Natixis Securities North America Inc. will be the agent.

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