New Issue: Eksportfinans prices $421,000 23% knock-in notes linked to Ford, GM via Natixis

By Jennifer Chiou

New York, May 30 - Eksportfinans ASA priced $421,000 of 23% annualized knock-in reverse convertible securities due Nov. 30, 2007 linked to U.S. automotive large caps via Natixis Securities North America Inc., according to a 424B3 filing with the Securities and Exchange Commission.

The underlying stocks are General Motors Corp. and Ford Motor Co.

Interest will be payable monthly.

At maturity, investors will receive par unless either stock falls below its knock-in price - 80% of its initial share price - during the life of the notes and either stock finishes below its initial share price, in which case the payout will be a number of shares of the worst-performing stock equal to $1,000 divided by that stock's initial share price.

Issuer:	Eksportfinans ASA
Issue:	Knock-in reverse convertible securities
Underlying stocks:	Ford Motor Co., General Motors Corp.
Amount:	$421,000
Maturity:	Nov. 30, 2007
Coupon:	23%, payable monthly
Price:	Par
Payout at maturity:	If either stock falls below its knock-in price during the life of the notes and either stock finishes below its initial share price, a number of shares of the worst-performing stock equal to the exchange ratio; otherwise, par
Initial share prices:	$8.49 for Ford, $30.47 for GM
Knock-in prices:	$6.792 for Ford, $24.376 for GM; 80% of initial share price
Exchange ratios:	117.7856 for Ford, 32.8192 for GM
Pricing date:	May 24
Settlement date:	May 30
Agent:	Natixis Securities North America Inc.
Fees:	1.5%

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