AS EESTI UHISPANK 

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.   As the  result of the transaction,

Eesti Ühispank has acquired 100 per cent of Saules Banka.

 

Livia Toomik

Head of Legal Dept.

Tel: +372 66 55 320