SBAB Bank AB - Publication of Supplementary Prospectus

8 February 2012

SBAB Bank AB (publ)

Publication of Supplementary Offering Circular

The following Supplementary Offering Circular was approved by the UK Listing Authority on 8 February 2012 and is available for viewing on the website of the London Stock Exchange (LSE: LSE.L - news) plc:

Supplementary Offering Circular dated 8 February 2012 relating to the Offering Circular (the "Offering Circular") dated 3 November (Stuttgart: A0Z24E - news) 2011 for the €13,000,000,000 Euro Medium Term Note Programme established by SBAB Bank AB (publ) ("SBAB").

To view the Supplementary Offering Circular and the document incorporated by reference, please paste the following URLs into the address bar of your browser.

Supplementary Offering Circular

http://www.rns-pdf.londonstockexchange.com/rns/0663X_1-2012-2-8.pdf

SBAB's Year-end Report for 2011

https://www.sbab.se/download/18.4a6a721113541f517fa8000188/SBAB_Yearendreport+2011.pdf

Each of the Supplementary Offering Circular and SBAB's Year-end Report for 2011 has also been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.hemscott.com/nsm.do.

The Supplementary Offering Circular is not provided for, or directed at, U.S. persons or persons in the United States. If you are a U.S. person or are viewing this page from the United States, you should exit this section of the website.

For further information, please contact:

Martin Kihlberg, SBAB Bank AB (publ)

Legal counsel

Tel: +46 (0) 8 614 43 59

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the Supplementary Offering Circular and/or the Offering Circular may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Supplementary Offering Circular and/or the Offering Circular) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Supplementary Offering Circular and/or the Offering Circular is not addressed. Prior to relying on the information contained in the Supplementary Offering Circular and/or the Offering Circular, you must ascertain from the Supplementary Offering Circular and/or the Offering Circular whether or not you are part of the intended addressees of the information contained therein.

Your right to access this service is conditional upon complying with the above requirement.