New Issue: Merrill prices $10.9 million Accelerated Return Notes on S&P MidCap 400 for Eksport

By Jennifer Chiou

New York, June 28 - Eksportfinans ASA priced $10.9 million of 0% Accelerated Return Notes due Aug. 26, 2011 linked to the S&P MidCap 400 index 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 increase in the index, subject to a maximum return of 22.5%. Investors will be exposed to any index decline.

Issuer:	Eksportfinans ASA
Issue:	Accelerated Return Notes
Underlying index:	S&P MidCap 400
Amount:	$10,897,840
Maturity:	Aug. 26, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus triple any index gain, up to maximum return of 22.5%; full exposure to any index decline
Initial index level:	737.33
Pricing date:	June 24
Settlement date:	July 2
Underwriters:	Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC
Fees:	2%
Cusip:	282649342

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