HANSAPANK

ANNOUNCEMENT



OUT-OF-COURT SETTLEMENT WITH HOIUPANGA TÖÖTAJATE AS



On Friday, December 15, 2000 attorney at law Raino Paron representing

AS Hansapank and attorney at law Leon Glikman representing Hoiupanga

Töötajate AS and its Chairman Marcel Vichmann reached an out-of-court

settlement as a result of which AS Hansapank and Hoiupanga Töötajate

AS will resolve the dispute over 1, 584, 000 shares in Hansapank.



Proceeding from the out-of-court settlement, AS Hansapank will sell to

the investor represented by Glikman & Glikman Solicitors a promissory

note issued by Coalgate Securities Limited to AS Eesti Hoiupank on 29

April 1998. The investor represented by Glikman & Glikman Solicitors

will pay AS Hansapank 56 million Estonian kroons for the note. The

amount will constitute extraordinary earnings for AS Hansapank in

2000. The out-of-court settlement has been approved by the Board and

the Council of Hansapank.



The settlement also foresees that the parties to the arrangement waive

all bilateral claims, pretensions and legal disputes and refrain from

any public comments about each other.





Mart Tõevere

Head of Investor Relations

+372 6131 569