HANSAPANK

ANNOUNCEMENT



CHANGES IN THE BOARD AND COUNCIL



In the council meeting held today, December 16, the vice-chairman of

the council Mr Jonathan H.M. Harfield informed of his wish to resign

from the council.



Mr Harfield has been a council member in Hansabank since 1996. Until

the merger of Hansabank and Hoiupank in 1998, he also belonged to the

council of Hoiupank.

Jonathan Harfield also organised the allocation of the first larger

international credit lines to Estonian banks.



According to the chairman of the Board of Hansabank, Mr Indrek Neivelt

Jonathan Harfield has played an important role in the development of

the Estonian banking sector and the promotion of Hansabank’s image

among the international financial community. “Jonathan deserves our

highest respect for his contribution to Hansabank’s development. We

are most grateful to him”, added Mr Neivelt.



Jonathan Harfield will continue as a member of the council until his

resignation has been approved by Hansabank’s next general meeting of

shareholders.



At the same meeting the council also decided to approve the

resignation of the bank’s CIO, Mr Tõnis Sildmäe, effective from

January 1, 2000. The council appointed Mr Indrek Neivelt as the

temporary stand-in for Mr Sildmäe.





Mart Tõevere

Analyst

+372 6131 569