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Nordea

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Following a mutual agreement, senior vice president Thorleif Krarup will leave Nordea at the end of February 2004. Since stepping down as Group CEO in August 2002, Thorleif Krarup has held a position as senior vice president working with business and structural development. Thorleif Krarup's compensation package was reduced when he changed position in August 2002. Thorleif Krarup will be compensated according to his contractual entitlements and following the mutual agreement he will receive his current salary for a period of 24 months.

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