AS EESTI ÜHISPANK 

ANNOUNCEMENT

24.05.99

 

ÜHISPANK ACQUIRED 100% OF SAULES BANKA

 

On May 20th, 1999, Eesti Ühispank and Nederlandse

Financierings-Maatschappij voor Ontwikkelingslanden (FMO) signed a

contract according to which FMO sells to Eesti Ühispank 1'000'000

shares of Latvian Saules Banka. Cost of the transaction was 

10 191 287 kroons and 20 cents. As a result of the transaction,

Eesti Ühispank has acquired 100 per cent of Saules Banka.

 

The transaction was concluded on May 20th. The original copy of the 

agreement, signed by the counterparty, arrived to Tallinn on May 21th. 

 

 

Livia Toomik

Head of Legal Dept.

Tel: +372 66 55 320