ANNOUNCEMENT

 

RESULTS OF TAKE-OVER BID TO SHAREHOLDERS OF AKTSIASELTS

EESTI ÜHISPANK

 

Skandinaviska Enskilda Banken AB (publ), registration number

502032-9081,  having  its address at Kungsträdgårdsgatan  8,

Stockholm,   Sweden   (hereinafter  “SEB”),   announced   on

September  11, 2000 its offer to purchase all shares  issued

by  AS  Eesti  Ühispank,  registry  code  10004252,  address

Tornimäe  2,  15010  Tallinn (hereinafter  “Ühispank”),  not

already  owned  by the SEB Group (SEB and its subsidiaries).

The  offer was valid between September 11, 2000, and October

20, 2000.

 

Under  the  take-over bid SEB acquired 16,017,415 shares  of

Ühispank,  representing 48.27% of the shares in  respect  of

which  the  offer  was made, and 24.06% of  all  the  shares

issued by Ühispank.

 

As  of  October  27,  2000, SEB owned 61,313,838  shares  of

Ühispank,  representing 92.12% of all the shares and  voting

rights of Ühispank.

 

As  of  October 27, 2000, SEB Baltic Holding AB as the party

acting  in  concert  with  SEB  owned  1,959,000  shares  of

Ühispank,  representing 2.94% of all the shares  and  voting

rights of Ühispank.

 

SEB  has  entered  into an agreement with a  shareholder  of

Ühispank according to which SEB will acquire on November 20,

2000,  105,265  additional shares of Ühispank,  representing

0.16% of all the shares and voting rights of Ühispank. As  a

results  of this transaction SEB will own 61,419,103  shares

of  Ühispank,  representing 92.28% of  all  the  shares  and

voting rights of Ühispank, which together with those held by

SEB Baltic Holding AB, account for, in aggregate, 95.22%  of

all the shares issued by Ühispank.

 

At  present,  the  results of the take-over  bid  are  being

reviewed, therefore minor corrections may occur with  regard

to the information provided above.

 

The offer was conditional upon the receipt by SEB of consent

from  the  Swedish Finansinspektionen to the acquisition  by

SEB  of  all the shares of Ühispank, and authorisation  from

the  Bank of Estonia for SEB itself to acquire more than  50

per  cent of the total issued share capital or voting rights

of Ühispank. Both of the conditions set in the take-over bid

have been fulfilled.

 

 

Additional  information: Mrs. Eerika Vaikmäe-Koit,  Head  of

International Banking Department, Ühispank, tel. 6 656 600