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COMMERZBANK AG: Pre Stabilisation SpareBank 1 SR EUR500mil 2% 2018


COMMERZBANK AG: Pre Stabilisation SpareBank 1 SR EUR500mil 2% 2018 Pre-Stabilisation notice

5th November, 2012

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.


                            SpareBank 1 SR-Bank ASA                            
                                 € 500,000,000                                
                         2.00%. Senior Notes due 14 May 2018                      

Stabilisation Notice

Commerzbank AG (contact: Ian Turner; telephone: 44-207-475-1817) hereby
announces that the Stabilising Manager(s) named below may stabilise the offer
of the following securities in accordance with Commission Regulation (EC) No.
2273/2003 implementing the Market Abuse Directive (2003/6/EC).

The security to be stabilised:                                                 

Issuer: SpareBank 1 SR-Bank ASA

Guarantor (if any): n/a

ISIN XS0853250271

Aggregate nominal amount: €500,000,000

Description: €500mil 2.00% Senior Notes due 14 May 2018

Offer price: 99.624

Other offer terms: Payment 14-Nov, Listing Luxembourg. Denoms:

100k+1k. Expected Rating: A1/A- Fitch

Stabilisation:

Stabilising Manager(s): Coordinating Stabilsation Manager:


                                                                               
                                    Commerzbank Aktiengesellschaft             
                                                                               
                                    Stabilisation Managers                     
                                                                               
                                    Credit Suisse                              
                                                                               
                                    DZ Bank                                    
                                                                               
                                    Societe Generale Corporate & Investment    
                                    Bank                                       

Stabilisation period commences 5th November, 2012

Stabilisation period expected to No later than 30 days end on:

Existence, maximum size and The Stabilising Manager(s) may over-allot conditions of use of over-allotment the securities to the extent permitted in facility. accordance with applicable law.

In connection with the offer of the above securities, the Stabilising Manager (s) may over-allot the securities or effect transactions with a view to supporting the market price of the securities at a level higher than that which might otherwise prevail. However, there is no assurance that the Stabilising Manager(s) will take any stabilisation action and any stabilisation action, if begun, may be ended at any time Any stabilisation action or over-allotment shall be conducted in accordance with all

applicable laws and rules.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement is not for distribution, directly or indirectly, in or into the United States or any other jurisdiction in which such distribution would be unlawful.

END

END

-0- Nov/05/2012 15:15 GMT

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