Hansapank                     NEWS RELEASE                09/25/2003 09:30



DECISIONS OF THE COUNCIL MEETING



In a meeting held yesterday, 24 September, the Council of Hansabank

decided to lower the operating profit growth target from 20% to 10%.

Hansabank set a target to double the operating profit before taxes in

4 years (annual average growth 20%) in 1999, when the bank was

operating in a high-growth environment and the Group’s market share in

Lithuania was less than 1%. During the years 1999-2002 the Group’s

operating profit increased by 35% annually (CAGR).

Today our market share in the Baltic banking market has grown to a

third of the market and the rapid development of the local banking

sector has raised the share of financial services in GDP close to the

levels seen in developed markets. Additionally, the continuing

convergence with the European markets is gradually decreasing interest

margins, making a 20% operating profit unsustainable. Hence the Group

has set a mid-term target of average annual operating profit growth of

10%.

The council approved the following financial targets:

1. Return on equity at least 20%

2. Cost-income ratio below 50%

3. Net risk cost below 0.6%

4. To increase the operating profit before taxes by 10%



The Council also approved the resignation of Arunas Siksta - chairman

of the Board of the Lithuanian Hansabankas and member of the Board of

Hansabank and elected Darius Nedzinskas, current vice-chairman of the

Board of Hansabankas, as the member of the Board of Hansabank. Darius

Nedzinskas will be appointed as the chairman of the Board of

Hansabankas from 1 November. Darius Nedzinskas has been heading the

Corporate Banking Division of Hansabankas since 1999.



The recent employment history of Darius Nedzinskas is the following:



1999 -         Head of Corporate Banking Division of Hansabankas

1998 - 1999    Establishment of Hansabankas, member of the project



Darius Nedzinskas does not own Hansabank shares.





Mart Tõevere

Head of investor relations

+372 6131 569