At the meeting of the Council of AS Hansapank on Thursday, November 19,

1998, Jüri Mõis submitted an application to resign from the position of

Chairman  of the Board from January 1, 1999. Mõis is going to resign at

an  agreement  with  the  majority  shareholders  of Hansapank and will

continue as Chairman until the end of the current year, having the full

trust and support of the Council.

The  Council  made  a  proposal  to  Indrek Neivelt, the present CEO of

Hansapank Estonia to take over the position of Chairman of the Board of

AS  Hansapank  from  January 1, 1999. Indrek Neivelt accepted the offer

and the Council will make the respective decision at the next scheduled

meeting on December 17.