OREANDA-NEWS. June 15, 2009.

Investment Deposit 228 - COMET EEK

Investment Deposit 229 - COMET EUR

Investment Deposit 230 - COMET EUR with Risk Premium

Investment Deposit 231 - COMET USD

These investment deposits are term deposits of AS SEB Pank (SEB), whose interest is tied to the success of the strategy that benefits from the price trends of commodities. The principal amount of the deposit is 100% protected by the end of the deposit period.

The underlying asset of Investment Deposit COMET is the index prepared by US bank Citigroup that benefits by taking long and short position on the market. Long positions have been taken in order to earn on commodity price increases and short positions in order to earn on price decreases. Positions are based on the increase or decrease trends of the commodities contained in the index that are only maintained for a moment.

The index adapts to changing market situations itself and does not use specific numeric values based on prior observations for comparative analyses, which helps to minimise the risk that historical data is excessively relied on in the determination of future expectations. The index contains six highly liquid Diapson excess return single commodity indices to maintain exposure to following commodities – wheat, corn, crude oil, aluminium, copper and gold. The positions of the index are changed on a monthly basis considering both short-term and long-term data.

Price fluctuation control is also applied to the index. At the beginning of each month, the realized volatility of the index is measured for the immediately preceding 3 months. If this realized volatility is above the 8% target, the Citi COMET Volatility Target Index reduces exposure to the underlying market by the ratio of 8% to the realized volatility.

Advantages of Investment Deposit COMET:

The opportunity to earn income both on rising and falling commodity prices

Lower price fluctuations due to price volatility control and the option to hold both long and short positions

A good tool for reducing inflation risk as long positions earn on inflation

A good option for spreading your portfolio as the price movements of commodities differ from other financial assets.

Risks of Investment Deposit COMET:

The risk premium paid may be lost in the case of deposits with risk premium

The good historical rate of return may not be achieved again in the future

The Investment Deposit comes with a 100% guarantee

Provided that you keep your money in this investment deposit until the end of the deposit period, SEB will pay at least the principal amount of your deposit back to you.

Investment deposits are opened in Estonian kroons, euros and US dollars. Estonian kroons and euros are converted when the deposit is opened and closed using the EUR/EEK exchange rate established by Eesti Pank.

The contract and offer terms of investment deposits are available on our homepage at www.seb.ee and at all SEB branches. You can also make appointments for consultations on the Internet and at branches. Investment deposit contracts can be signed in our Internet bank U-Net and at SEB branches.

WARNING
This material is not sufficient for making your final investment decision! Before you make your final investment decision, please read the terms and conditions of the investment deposit contract, the terms and conditions of the offer and the information on the bank's website at www.seb.ee/investorkaitse. Make sure you pay special attention to information about risks and consult a professional if necessary!

Start date of deposit:
30.06.2009

End date of deposit:
19.01.2012

Principal amount guarantee
100%

Entry into contract
Free of charge

Underlying asset

Citi COMET Volatility Target Index

Minimum deposit amount
Investment Deposit 228: 1000 EEK

Investment Deposits 229 and 230: 100 EUR

Investment Deposit 231: 100 USD

(the deposit amount must be a multiple of 1 EEK, 1 EUR or 1 USD)

Risk premium

Investment Deposit 228: none

Investment Deposit 229: none

Investment Deposit 230: 10% of deposit amount

Investment Deposit 231: none

Advantages of investment deposit:
100% capital guarantee

The opportunity to participate in markets that individual investors find difficult to enter

The rate of return may be considerably higher than the interest of ordinary term deposits

No holding costs when compared to equities or bonds

This offer is valid from 25.05.2009 until 29.06.2009.