RHA Eksportfinans 8.70 Pfd Accelerated Return Notes Linked TO The Russell 2000 Index

Scott + Scott, LLC Continues Investigation of Rhodia S.A. After Filing Securities Fraud Lawsuit in Early April The Alleged Scandal of Rhodia -- The Successor-in-Interest to Rhone-Poulenc, Has Been Dubbed "Rhodiagate" COLCHESTER, Conn., May 12 /PRNewswire/ -- Scott + Scott, LLC, which filed on behalf of client shareholders a securities class action against Rhodia S.A. (NYSE:RHA) in early April 2005, continues its investigation that had been long ongoing. The firm is investigating further into this case and will provide additional information in the future. The complaint charges Rhodia and certain of its officers and directors with violations of the federal securities laws (Securities Exchange Act of 1934). Rhodia develops, manufactures and markets chemical products. It is the successor-in-interest to Rhone-Poulenc. You can reach attorney Neil Rothstein at at 800/332-2259 or 619/233-4565. If need be, you can also reach him at 619/251- 0887. Attorney Amy K. Saba can be contacted at those numbers, as well, or at . Scott + Scott has offices in Connecticut, Ohio and California. The firm (http://www.scott-scott.com/) specializes in complex litigation including securities fraud and represents foundations, individuals, corporations and pension funds worldwide. The firm works on a contingency fee basis and therefore any costs or fees are awarded by the Court upon a successful result (there are no costs or fees to the shareholders). Rhodia was filed by Scott + Scott, LLC on April 7, 2005 in the United Stated District Court for the District of New Jersey. ALLEGATIONS: The complaint alleges that during the Class Period, defendants overstated Rhodia's reported financial results by failing to record impairment on a timely basis; this was allegedly done by individual defendants in order to protect and enhance their executive positions and substantial compensation. It is alleged that this scheme was further carried out to raise EUR 1 billion in Notes in a private placement on May 28, 2003, as well as EUR 290 million in a private placement of Notes with American investors in 2001 and to enhance the value of their personal Rhodia securities holdings and options. True facts concealed from shareholders during the Class Period included that Rhodia was carrying an overvalued asset on its books in the form of its ChiRex unit which was impaired and should have been written down in a timely fashion but was not. Further, Rhodia failed to write down its deferred tax assets to recoverable values in 2002 and failed to do so in 2003 until the end of the year. Additionally, the Company failed to properly report its outstanding debt; and it failed to make disclosures in a manner in order to make it possible for investors to understand the trends in its business. As a result of Rhodia's false statements, its securities traded at artificially inflated levels during the Class Period. On March 23, 2004, it was revealed that French securities regulators were conducting an inquiry into the Company's financial reporting. Following this news, Rhodia's stock collapsed to below $1.50 per share. Subsequently, in March 2005, it was reported that France's stock market regulator had found that the Company had failed to disclose important information in a timely fashion beginning in 2001. Scott + Scott, LLC represents those who purchased securities in Rhodia from April 26, 2001 to March 23, 2004. If you purchased securities in Rhodia during this period and desire to be a client shareholder, please contact the firm as soon as possible. If you were to be considered to be put forth as a lead plaintiff, you would be notified and permitted to make any such decision. THE FRENCH CONNECTION: According to Carol Matlick of BusinessWeek Online (April 29, 2005): "Rhodiagate" ... is what the French are calling the scandal enveloping Rhodia, a Paris-based producer of specialty chemicals. The $7 billion company has lost $2.9 billion over the past four years and is struggling to pay down more than $3 billion in debt. The New York-traded share price has slid from more than $24 to less than $2 since it was spun off from French chemical- pharmaceutical giant Rhone-Poulenc in 1998. The French stock market regulator, in an administrative finding issued on Mar. 25, accused Rhodia of failing to disclose key information that could have warned investors of how dire things were. Rhodia says it is contesting the finding. Ms Matlick further reveals that: "The travails of this chemical company lack the sex appeal of recent corporate scandals at Vivendi or at Credit Lyonnais, the state-owned bank that was driven to the brink of collapse in the 1990s by reckless lending. But, says veteran French shareholders' rights activist Colette Neuville, who has represented aggrieved Rhodia shareholders since 2001, "Rhodia is the worst scandal we have seen. Vivendi and Credit Lyonnais slid into disaster, but it wasn't premeditated. At Rhodia, things were arranged to deceive the market." Scott + Scott, LLC as a lead counsel recently settled the ImClone Securities Litigation for $75 million and the Mattel Securities Litigation for $122 million. Notably, it recently fought off three other plaintiffs' firms and the defendants' attorneys in the Halliburton Securities Litigation in which those attorneys attempted to settle the case for $6 million dollars. The Court removed the other three firms and their lead plaintiff clients and elevated Scott + Scott, LLC to Lead Counsel and its client to Lead Plaintiff in its own right. The firm was recently appointed to lead counsel positions in such cases as the Netflix Securities Litigation, Commerce Bancorp of New Jersey Securities Litigation and the Royal Dutch/Shell Pension Benefits Litigation. It has also been appointed to lead positions against such companies as Sprint, Emulex, ANR Re, priceline.com and many more. Scott + Scott, a Connecticut-based law firm with offices in Chagrin Falls, Ohio and San Diego, California, is a law firm with a national practice and reputation. The firm is currently litigating major securities, antitrust and employee retirement plan cases throughout the United States and represents pension funds, charities, foundations, individuals and other entities worldwide -- in both class and non-class cases. Scott + Scott dedicates itself to client communication and satisfaction. Please visit our website at http://www.scott-scott.com/ (under reconstruction) to learn more about the firm, its practice and other cases. If you wish to discuss this action with an attorney or have any questions concerning this notice, your rights or any matter within our expertise, please contact attorney Neil Rothstein at , Amy K. Saba at , or Managing Partner David R. Scott at or by calling 800-404-7770 (EDT) by 12:00 p.m. or 800-332-2259 (PDT) thereafter. You can dial direct in California at 619-233-4565. Scott + Scott, LLC is based at 108 Norwich Avenue, Colchester, CT 06415; phone: 860/537-3818; fax: 860/537-4432. This release is issued in accordance with the applicable U.S. federal law. DATASOURCE: Scott + Scott, LLC CONTACT: Neil Rothstein, , or Amy K. Saba, , or Managing Partner David R. Scott, all of Scott + Scott, LLC, +1-800-404-7770 (EDT) by 12:00 p.m. or 800-332-2259 (PDT) Web site: http://www.scott-scott.com/

Copyright