EESTI ÜHISPANK

ANNOUNCEMENT



SIGNED A GUARANTEE AGREEMENT ARRANGED BY THE SUMITOMO BANK



On the 25th of   October, Eesti Ühispank signed a  guarantee agreement

arranged  by  The  Sumitomo  Bank.  The  guarantee  was  organised for

European Investment bank's loan facility for Eesti Ühispank which  was

signed   in   December   1999.  (see  announcement   from  10.12.1999:

<a href='http://www.eyp.ee/pages.php3/01070103,1034)' target='_blank'>http://www.eyp.ee/pages.php3/01070103,1034)</a>  According  to  the   loan

agreement, Eesti Ühispank can now  borrow up to 20 Million  euros from

the EIB.



Besides The Sumitomo Bank, the following banks acted as guarantors  in

the agreement: Bayerische     Landesbank    Girozentrale,     Sanpaolo

IMI    S.p.A.,  Hamburgische          Landesbank         Girozentrale,

Norddeutsche  Landesbank      Luxembourg     S.A.     ja    Landesbank

Schleswig-Holstein Girozentrale        -    partners with  whom  Eesti

Ühispank has had long-term co-operation already for years.



The EIB  facility will  be used  for crediting  small and medium sized

projects  in  the  fields  of  environment  protection, energy saving,

infrastructure,  industry,  services  and  tourism.  "We  think that a

number of signs indicate that the  present is a good time for  signing

the guarantee and disbursing the  funds - the revival of  the Estonian

economy, successfully completed acquisition of Eesti Ühispank by  SEB,

upgrading of Eesti  Ühispank's ratings. Eesti  Ühispanks is ready  for

becoming more active,"  says Margus Schults,  Vice President of  Eesti

Ühispank.



Eero Raun

Head of PR

Eesti Ühispank

Tel. +372 6655 256





Urmas Neetar

head of reporting department

6 656 390