New Issue: Natixis prices $600,000 28.75% reverse convertibles linked to GM for Eksportfinans

By Susanna Moon

Chicago, June 24 - Eksportfinans ASA priced $600,000 of 28.75% annualized reverse convertible notes due Dec. 26, 2008 linked to the common stock of General Motors Corp. via Natixis Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission.

Interest is payable monthly.

If General Motors stock falls below the knock-in price - 50% of the initial share price - during the life of the notes and finishes below the initial price, the payout at maturity will be a number of General Motors shares equal to par divided by the initial share price.

Otherwise, the payout will be par.

Issuer:	Eksportfinans ASA
Issue:	Reverse convertible notes
Underlying stock:	General Motors Corp. (NYSE: GM)
Amount:	$600,000
Maturity:	Dec. 26, 2008
Coupon:	28.75%, payable monthly
Price:	Par
Payout at maturity:	If stock falls below knock-in price during life of notes and finishes below initial price, 77.4593 General Motors shares; otherwise, par
Initial price:	$12.91
Knock-in price:	$6.455, or 50% of initial price
Pricing date:	June 24
Settlement date:	June 26
Underwriter:	Natixis Securities North America Inc.
Fees:	3.5%

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