ANNOUNCEMENT

 

SKANDINAVISKA ENSILKDA BANKEN AB (publ) TAKE-OVER BID TO SHAREHOLDERS OF 

AS EESTI ÜHISPANK

 

In accordance with the Rules for Take-over Bids of the Tallinn Stock 

Exchange, Skandinaviska Enskilda Banken AB (publ), registration number 

502032-9081, address Kungsträdgårdsgatan 8, Stockholm, Sweden 

(hereinafter "SEB"), hereby announces its offer to purchase all shares 

issued by aktsiaselts Eesti Ühispank, registry code 10004252, address 

Tornimäe 2, 15010 Tallinn (hereinafter "Ühispank"), not already owned by 

the SEB Group (SEB and its subsidiaries) on the following terms and 

conditions (hereinafter the "Offer"):

 

Number of shares 

in respect of which     The Offer is made in respect of all 

the Offer is  made      issued and outstanding  ordinary

                        shares of Ühispank ("Shares") not

                        already owned by the SEB Group, being

                        33,183,381 Shares, representing  49.85%

                        of the  share capital of Ühispank.  The

                        Shares are freely transferable and  have

                        a nominal value of EEK 10.00 each.

 

Price                   The offer price for the Shares is

                        EEK 38.00 per share.

 

Term                    The  period for acceptance of the  Offer

                        begins at 10.00 a.m. (Estonian time)  on

                        11  September 2000 and ends at 5.00 p.m.

                        (Estonian time) on 20 October 2000.

 

Value date              Value date of the settlement is 27 October 2000.

 

Transaction fees        SEB will refund the transaction fees  to

                        shareholders who own 50 or less than  50

                        Shares.

 

A Shareholder wishing to accept the Offer should register a transaction 

order for the sale of the Shares with his/her securities account 

operator. 

 

On the value date of settlement, i.e. on 27 October, 2000, the purchase 

price for the Shares will be transferred to the shareholder's cash 

account held with his/her securities account operator. 

 

The take-over bid prospectus is available at Ühispank's head office, 

address Tornimäe 2, 15010 Tallinn, and may be found at the web-site of 

the Tallinn Stock Exchange at <a href='http://www.tse.ee.' target='_blank'>http://www.tse.ee.</a>

 

Following completion of the Offer and depending on the level of 

acceptances received, SEB will consider taking steps to submit an 

application for de-listing of the Shares from the Tallinn, Helsinki, 

Munich and Frankfurt stock exchanges.

 

The Offer has been approved by the Tallinn Stock Exchange Take-over 

Committee on 6 September, 2000. 

 

 

Additional information: Mrs. Eerika Vaikmäe-Koit, Head of International 

Banking Department, Ühispank, tel. 6 656 600