HANSAPANK

ANNOUNCEMENT



OPTIONS ISSUED TO HANSAPANK'S EMPLOYEES IN 1999



On January 4, 1999 Hansapank issued to Hansapank’s employees call

options on 713 thousand shares. The maturity date for the options is

January 4, 2000. The employees decided to use cash settlement on 446

thousand shares. Hansapank has not acquired shares for these options

and the difference of the strike price and the market price will be

expensed to the income statement of 1999. Options on 267 thousand

shares were postponed for 1 year and 1 month (the new maturity date is

February 1, 2001). All other conditions of the postponed options will

remain the same.





Mart Tõevere

Analyst

+372 6131 569