EESTI ÜHISPANK

ANNOUNCEMENT



CHANGES IN THE MANAGEMENT BOARD OF EESTI ÜHISPANK



The Supervisory  Board of  Eesti Ühispank  resolved on  its meeting on

May 10th, 2000, the following:



the Supervisory Board has resolved:



1. To discharge  the following members  of the Management  Board of AS

Eesti  Ühispank:  Ain  Hanschmidt,  Lembit  Kitter,  Toivo  Annus, Ülo

Suurkask, Margus Schults, Leho  Lugna, Targo Raus, Vaima  Kask, Andrus

Kimber, Johan Lindh.



2. To elect the following persons the members of the Management  Board

of AS Eesti Ühispank:



1. Ain Hanschmidt

2. Lembit Kitter

3. Jürgen Lamp

4. Rein Rätsep

5. Johan Lindh

6. Margus Schults

7. Tónu Liik

8. Andrus Kimber



3. To appoint Ain Hanschmidt  the Chairman of the Management  Board of

AS Eesti Ühispank.



4. To approve the following areas in the structure of the 

organisation of AS Eesti Ühispank:



- Commercial Banking;

- Asset Management;

- Markets;

- Strategy and Organisation;

- Information Technology;

- Financial Operations and Control;

- Credit.



The Management Board of AS  Eesti Ühispank resolved on its  meeting to

approve the duties of the members of the Management Board as follows:



Ain Hanschmidt 	President, Chairman of the Management Board,

Lembit Kitter   Vice President, Head of Commercial Banking,

Jürgen Lamp     Vice President, Head of Asset Management,

Rein Rätsep     Vice President, Head of Markets,

Margus Schults 	Vice President, Head of Strategy and Organisation,

Tónu Liik       Vice President, Head of Information Technology,

Johan Lindh     Vice President, Head of Financial Operations 

                                and Control,

Andrus Kimber 	Vice President, Head of Credit.



In addition to those mentioned above, Eesti Ühispank Group  Management

is made up of the following executives:



Ülo Suurkask  - Vice President, Head of Accounting and Financial

                Reporting Division,

Rein Parelo   - Head of Risk & Financial Management Department,

Toivo Annus   - Vice President, Head of Branch Management Division,

Jaan Tamm     - Head of Electronic Banking Division,

Tammo Otsasoo - Head of Internet Banking Development,

Janek Mäggi   - Head of PR and Marketing Division,

Mart Altvee   - Chairman of the Board of Ühisliising (leasing 

                subsidiary), 

Indrek Holst  - Chairman of the Board of Ühispanga

                Elukindlustus (life insurance subsidiary),

Toomas Tsopp  - Chairman of Supervisory Council in Saules Banka,

                Councillor to the Management Board of Eesti Ühispank,

Livia Toomik  - Head of Legal Department







Duties of  the the  Management Board  of Eesti  Ühispank during last 3

years and shareholding in Eesti Ühispank:



Ain Hanschmidt

1993   Eesti Ühispank  President, Chairman of the Management Board

Shareholding - 148 601 shares



Lembit Kitter

1997   Eesti Ühispank  General Director

1998   Eesti Ühispank  Vice President, Head of Retail Banking,

Shareholding - 100 000 shares



Margus Schults

1997   Eesti Ühispank  Vice President

1998   Eesti Ühispank  Vice President, Head of Foreign Banking

(until November 1999 - Interbank)

Shareholding - 27 125 shares



Andrus Kimber

1997   Eesti Ühispank  Credit Director

1998   Eesti Ühispank  Director of Credit Division Estonia

1999   Eesti Ühispank  Vice President, Head of Credit

Shareholding - 37 044 shares



Johan Lindh

1997   SEB representation in New York  Vice President

1999   Eesti Ühispank  Vice President, Chief Financial Officer

Shareholding - 0



Rein Rätsep

1997   Tallinna Pank   Stock Trading, dealer

1997   Tallinna Pank   Stock Trading, Head Broker

1998   Eesti Ühispank  Capital Markets Division, Dealer Market-maker

1999   Eesti Ühispank  Director of Capital Markets Division

Shareholding - 0



Jürgen Lamp

1997   Eesti Ühispank  Marketing Director

1998   Eesti Ühispank  Vice President, Head of Organisation

                       and Strategy,

Shareholding -  5000 shares



Tónu Liik

1997   Eesti Hoiupank  Director of IT Division

1998   Eesti Ühispank  Director of IT Development Division

1998   Eesti Ühispank  Vice Head of IT

1999   Eesti Ühispank  Vice President, Head of Information Technology,

Shareholding -  1177 shares







Eero Raun

Head of PR Department

Eesti Uhispank

Tel.: +372 6655 256





Urmas Neetar

head of reporting dept.

6 656 390