HANSAPANK

ANNOUNCEMENT



SIGNING OF THE LITHUANIAN SAVINGS BANK'S PURCHASE AGREEMENT



On April 23, 2001 AS Hansapank (Hansabank) and Lithuanian State

Property Fund signed an agreement for the purchase of 90.73% shares in

AB Lietuvos Taupomasis Bankas (LTB) owned by the Republic of

Lithuania.



The purchase price paid by Hansabank in cash for the above-mentioned

stake in LTB is LTL 150 million (EUR 42 million). Additionally,

Hansabank will commit to invest in LTB LTL 150 million (EUR 42

million) over a period of 18 months, including a recapitalisation of

the bank through a direct share issue worth LTL 120 million (EUR 33

million). Hansabank will make an offer to the minority shareholders on

equal terms with the Lithuanian government (price of one share LTL

9.88).

The closing of the transaction is subject to satisfaction of certain

conditions precedent during 30 business days as of the signing,

including obtaining approvals from the Lithuanian and Estonian central

banks as well as the Lithuanian Competition Council, non-occurrence of

material adverse changes and finalisation of the due diligence.



Hansabank is aiming to develop LTB into a leading bank in Lithuania.

Hansabank’s vision in Lithuania is to create a bank that is a stable

employer and offers good development opportunities for employees,

being also a good corporate citizen and contributing to the

development of the whole Lithuanian society.



“Acquisition of the Lithuanian Savings Bank is one of the milestones

in Hansabank’s 10-year history. Currently we are the fastest growing

bank in Latvia and the market leader in Estonia. Lithuania, the

largest of the three Baltic countries, has considerable potential and

the development possibilities in the banking sector are significant.

We are striving to significantly reinforce our market position with

the acquisition of LTB”, said Indrek Neivelt, CEO of Hansabank Group.



Customer value proposition

The new bank, which will be created through the merger of LTB and

Hansabankas, will belong to the Hansabank Group with capabilities to

support and finance future growth. The bank focuses on keeping and

extending its current broad customer base and aims to offer

competitive pricing for all age groups. Importance is given to the

introduction of a large number of new lending, savings and electronic

products and outperforming competitors by service quality on an

international level.

The bank will introduce several new service channels, such as internet

and telephone banking as well as new payment methods (ATM payments,

direct debit etc), while rationalising its sub-branch network.



Strategic restructuring

In order to meet the challenges posed by the new, wider customer

offering and good growth potential, the current organization will have

to go through a strategic restructuring process. As the bank will

focus on core activities, top quality client service and improve

product and service technology, the staff profile of the bank needs to

follow respectively. Since the bank faces very ambitious targets over

the coming years, the competent and motivated staff will play a key

role in their achievement. Employees of the bank will face new

challenges and opportunities by being members of a dynamic and growth

oriented financial group, which offers improved career opportunities

especially in client service, product development and IT. The new

employer can offer more challenging assignments and personal

development, both in Lithuania as well as in the other subsidiaries of

the Group. The bank will take the responsibility of providing

respective training possibilities for its staff to meet these changing

roles. Therefore, shortly after the merger the new bank will introduce

an extensive training program to employees and develop a performance-

based reward system, which reflects the results achieved and shares

the bank’s success with the employees who have created it.

During the strategic restructuring period, which is aimed to last 24

months, the merged bank will offer extensive support to its employees.

Outsourcing of non-core activities will take place in the framework of

providing feasible support to employees to continue their careers in

contracting companies. Even more, a lot of interest and resources will

be put into helping all people, who will leave the bank during the

restructuring process, to find a new work career outside the bank

(outplacement)



According to Anders Sahlén, Chairman of the Council of Hansabank Group

and Senior Adviser to the President of Swedbank, Hansabank will be a

sound owner to LTB. “The management of Lietuvos Taupomasis Bankas has

indicated that they expect the new owner to focus on IT and

technological development. Hansabank is known for its innovation and

technological capabilities. Hansabank has a strong strategic investor

in the form of Swedbank and through several years of successful

operations on the Latvian and Estonian markets has gained valuable

experience and a good reputation”, said Sahlén.



Indrek Neivelt pointed out that over the last six months LTB’s current

management has taken serious steps towards transforming the bank into

a modern financial institution. “I am confident that together we can

develop LTB into a leading universal bank in Lithuania.”



Implications of SEB Swedbank merger

The majority owners of Vilniaus Bankas (SEB) and Hansabank Group

(Swedbank) have announced of their intention to merge. At this point

in time the merging banks have not disclosed their strategy regarding

their Baltic holdings. At the end of 2000 the combined market share of

LTB and Hansabankas was 36% and Vilniaus bankas controlled 41% of the

Lithuanian deposit market. This has raised issues of market

concentration that will have to be solved in co-operation with

respective authorities in Lithuania.



Lithuanian Savings Bank is the second largest bank in Lithuania and

the largest retail bank of the country. As of December 31, 2000, LTB’s

total assets amounted to LTL 3.43 billion (EUR 0.98 billion), deposits

to LTL 2.82 billion (EUR 0.80 billion) and loans to LTL 0.97 billion

(EUR 0.28 billion). At the end of the year the bank had 3600 employees

and its distribution network consisted of 395 branches and 67 ATM’s.



Hansabank Group is a pan-Baltic financial organisation with total

assets amounting to EUR 2.91 billion, deposits to EUR 1.87 billion,

loans to EUR 1.76 billion and shareholders’ equity to EUR 0.37 billion

at the end of 2000. The Group has over 3,400 employees and serves over

1.2 million retail customers and 80,000 corporate customers through

165 branches and over 600 ATM’s. The Group has over 250,000 Internet

banking customers. Hansabank Group’s long-term deposit rating by

Moody’s Investors Service is Baa1 and by Standard & Poor’s it is BBB.



At the end of 2000, FöreningsSparbanken AB (publ) (Swedbank) had total

assets of EUR 105.0 billion, deposits of EUR 28.0 billion and loans of

EUR 71.2 billion. Swedbank has over 5.6 million customers and 1.0

million Internet banking customers. Swedbank’s long-term deposit

ratings are Aa2 by Moody’s Investors Service and A by Standard and

Poor’s.







Ariana Rastauskas

Head of Marketing and PR

Hansabankas

Tel.+370 2 390 633



Kristi Liiva

Head of Marketing and PR

Hansabank Group

Tel. +372 6133 714





Mart Tõevere

Head of Investor Relations

+372 6131 569