Notes

All amounts are in SEK thousand.

Note 1. Provisions for actuarially calculated risk exposure of the undertaking

Provisions for actuarially calculated risk exposure of the undertaking: gross (before ceded re-insurance):
	Provision for expected risk of loss	Provision for unexpected risk of loss	Total provision
Opening balance 2005	-3,146,000	-5,259,000	-8,405,000
Change in 2005	-636,000	204,000	-432,000
Closing balance 2005 / Opening balance 2006	-3,782,000	-5,055,000	-8,837,000
Change in 2006	-338,000	-430,000	-768,000
Closing balance 2006	-4,120,000	-5,485,000	-9,605,000
Reinsurers’s share of provisions for actuarially calculated risk exposure of the undertaking:
	Provision for expected risk of loss	Provision for unexpected risk of loss	Total provision
Opening balance 2005	86,000	61,000	147,000
Change in 2005	-34,000	-19,000	-53,000
Closing balance 2005 / Opening balance 2006	52,000	42,000	94,000
Change in 2006	435,000	645,000	1,080,000
Closing balance 2006	487,000	687,000	1,174,000
Provisions for actuarially calculated risk exposure of the undertaking: net (after ceded re-insurance):
	Provision for expected risk of loss	Provision for unexpected risk of loss	Total provision
Opening balance 2005	-3,060,000	-5,198,000	-8,258,000
Change in 2005	-670,000	185,000	-485,000
Closing balance 2005 / Opening balance 2006	-3,730,000	-5,013,000	-8,743,000
Change in 2006	97,000	215,000	312,000
Closing balance 2006	-3,633,000	-4,798,000	-8,431,000

Note 2. Recoveries

Recoveries with agreed payment dates up to and including the closing date are stated as income for the year.
As of the closing date, recovered claims of SEK 388,477 thousand had been received, and were still to be allocated. Of this total, some 80 per cent, or SEK 310,781 thousand had been stated as income without specific allocation.
The remaining 20 percent have been stated as a liability to guarantee-holders. In the previous year, a sum of SEK 169,720 thousand was stated without specific allocation. The net difference between the amounts without specific allocation in 2006 and 2005 (SEK 141,061 thousand) is included in the result for the year.

	2006	2005
Principal, own insurance	1,284,105	2,115,741
Principal, from re-insurers	6,991	2,509
Principal, re-insurers’ share	-5,784	-482
Total principal	1,285,312	2,117,768
Capitalised interest, own insurance	143,339	903,334
Capitalised interest, from re-insurers	263	1,941
Capitalised interest, re-insurers’ share	0	-357
Total capitalised interest	143,602	904,918
Interest, own insurance	149,937	153,624
Interest, from re-insurers	2,302	1,393
Interest, re-insurers’ share	-6,748	-3,661
Total interest	145,491	151,356
Recovered claims without specific allocation	141,061	-13,638
Total recovered claims	1,715,466	3,160,404

Note 3. Actuarially calculated net value of claims

	Gross value	Provision for expected risk	Provision for risk concentration	Total value
Opening balance 2005	12,318,000	-7,199,000	-161,000	4,958,000
Change in 2005	-1,745,000	-120,000	21,000	-1,844,000
Closing balance 2005 / Opening balance 2006	10,573,000	-7,319,000	-140,000	3,114,000
Change in 2006	-2,309,000	1,105,000	3,000	-1,201,000
Closing balance 2006	8,264,000	-6,214,000	-137,000	1,913,000

Note 4. Other operating costs

	2006	2005
Total	-6,054	-12,876
Premiums PA 91 and PA03	-6,060	-12,171
Change in pension liability	6	-705

Note 5. Operating costs

	2006	2005
Personnel costs	-69,191	-71,245
Cost of premises	-14,664	-15,685
Other operating costs	-22,764	-16,972
Depreciation	-1,334	-1,527
Administrative compensation	1,915	1,640
Total operating costs	-106,038	-103,789

A sum of SEK 135,000 in table remuneration was paid to the chairman, SEK 107,500 was paid to the first deputy chairman and SEK 83,250 to the second deputy chairman. A sum of SEK 75,000 each was paid to Kristina Alsér , Wilhelm Alstermark and Ulla Holm. Anna-Karin Jatko received SEK 55,000, Christian de Filippi received SEK 41,250, Lena Rooth received SEK 35,750 and Yvonne Gustafsson received SEK 27,500. A sum of SEK 13,750 was paid to the estate of Ulf Stange.

In his capacity as Director General, Olof Rydh was paid SEK 1,324,013. He was not paid a board fee.

No other benefits or future commitments have been agreed in favour of any members of the EKN board or its Director General.

The members of EKN’s Board held the following positions as members of the boards of other state authorities or companies.

Lennart Nilsson. Chairman of: AP Fastigheter AB, Member: Statistics Sweden and Finansinspektionen.

Göran Johnsson. Member: Swedbank AB, Elanders AB, AB Swedish Television, 4th AP Fund, Stiftelsen för Strategisk Forskning, The IQ-Initiative.

Karin Apelman. Vice president: A-banan Project AB, Member: Deputy member: Göteborg City Airport AB, Nordic Airport Properties, Arlanda Shiphol Development Company AB.

Kristina Alsér. Member: ALMI Företagspartner AB, Teknikföretagen, Swedish Miljöteknikråd (SWENTEC).

Yvonne Gustafsson. Chairman of: The National Government Employee Pensions Board, The Board of the Swedish Nuclear Waste Fund. Member: BAE Systems AB, Svenska Kraftnät.

Olof Rydh. Chairman of: Swedish Space Corporation. Member: Norra Älvstranden Utvecklings AB.

Wilhelm Alstermark, Christian de Filippi, Ulla Holm and Anna-Karin Jatko had no outside positions as members of the boards of other state authorities or companies.

Note 6. Currency fluctuations

	2006	2005
Realised currency gains/losses on assets	-127,763	-2,206
Realised currency gains/losses on liabilities	-1	0
Unrealised currency gains/losses on assets	-485,382	582,656
Unrealised currency gains/losses on liabilities	61,713	-15,165
Total	551,433	565,285

Note 7. Computers and other equipment

	2006		2005
	Acquisition value	Accumulated depreciation	Acquisition value	Accumulated depreciation
Net value stated in balance sheet	1,908		2,353
Opening balance	21,050	-18,697	19,175	-17,170
Purchases during the year	889	0	1,875	0
Depreciation during the year	0	-1,334	0	-1,527
Closing balance	21,939	-20,031	21,050	-18,697

Note 8. Pension funds and provisions for pension liabilities

Pension funds amounting to SEK 23,302 thousand have been funded with the Swedish National Debt Office for future pension payments and corresponded to pension provisions. Pension provisions refer to previous employees who as of 31 Dec 2003 received a retirement pension.

Note 9. Other long-term holdings of securities

This item in the balance sheet has the following breakdown:

	2006		2005
Currency, thousand	Amount in foreign currency	Equivalent in SEK thousand	Amount in foreign currency	Equivalent in SEK thousand
Total		9,833,508		7,214,270
SEK	7,500,000	7,500,000	6,000,000	6,000,000
USD	260,090	1,779,015	145,000	1,148,400
EUR	61,406	554,493	7,000	65,870

As of 31 December 2006, the EKN’s Other long-term holdings of securities consisted of placements for up to five years in SEK paying a fixed rate of interest at the Swedish National Debt Office and amounting to SEK 7,500,000 thousand, in currency deposits with Swedish commercial banks in USD with durations up to two years equivalent to SEK 1,197,000 thousand, in currency deposits with Swedish commercial banks in EUR with duration up to three years equivalent to SEK 325,080 thousand, in bonds in USD with durations up to three years equivalent to SEK 582,015 thousand and bonds in EUR with durations up to three years equivalent to SEK 229,413 thousand.

Note 10. Receivable from guarantee-holders

	2006	2005
Total receivables from guarantee-holders	1,218,020	582,907
Debited premiums owing	112,258	286,655
Premiums relating to committed offers	187,391	268,123
Investment guarantee premiums	2,709	2,823
Counter guarantee premiums	9,077	25,306
Total receivables from guarantee-holders, advance payments	311,435	582,907
Premiums in arrears, nominal	1,489,461	0
Premiums in arrears, change in capitalized value	415,720	0
Premiums in arrears, change in estimated value	-167,156	0
Total receivables from guarantee-holders, payments in arrears	906,585	0

Note 11. Accruals and deferrals

	2006	2005
Prepaid costs and accrued income consisted of the following:
Periodised recoveries without specific allocation	0	155,574
Accrued interest income on placements at fixed rates of interest	149,788	113,194
Prepaid rent for first quarter of coming year	2,319	3,603
Other	10	185
Total	152,117	272,556
Accrued costs and deferred income consisted of the following:
Interest compensation to guarantee-holders for recoveries without specific allocation	1,541	1,613
Accrued vacation and overtime pay	3,607	3,668
Other	165	0
Total	5,313	5,281

Note 12. Short-term placements and cash at banks

The breakdown of the EKN’s liquid funds and securities by currency was as follows:

	2006		2005
Currency, thousand	Amount in foreign currency	Equivalent in SEK thousand	Amount in foreign currency	Equivalent in SEK thousand
Total		3,475,121		3,587,549
SEK	2,157,618	2,157,618	639,006	639,006
USD	56,073	383,538	220,215	1,744,102
EUR	93,938	848,257	126,366	1,189,108
CHF	2,590	14,553	2,446	14,772
JPY	1,185,914	71,155	8,013	561

As of 31 December 2006, the EKN’s liquid funds consisted of bank deposits in SEK 2,157,618 thousand, of which SEK 1,743,326 thousand were placed on interest-bearing account with the Swedish National Debt Office. Foreign currency bank deposits amounted to the equivalent of SEK 200,206 thousand. Placements at fixed rates of interest in foreign currencies consisted of currency deposits with Swedish commercial banks for periods of up to twelve months and equivalent to SEK 1,117,297 thousand.

Note 13. Loan for fixed assets, Swedish National Debt Office

EKN’s loan limit for fixed assets equalled SEK 6,500 thousand on December 31, 2006.

	2006	2005
Closing liability	2,781	2,341
Opening liability	2,341	2,246
Amount of loan	500	240
Amortisation payment	-60	-145