HÜVITUSFOND

ANNOUNCEMENT



NEW SUPERVISORY BOARD MEMBER



Proceeding from the directive of the Governor of Bank of Estonia 

Andres Sutt was appointed new member of Hüvitusfond Supervisory Board 

as of December 31, 2001. Mr. Sutt will replace Andres Trink who will 

commence work as the Management Board chairman of the Financial 

Supervisory Authority.



Andres Sutt has been a member of Hüvitusfond Supervisory Board before.



Five of seven members of the Supervisory Board are appointed by Riigikogu, 

one member is appointed by the Minister of Finance, and one member by 

the Governor of Bank of Estonia.



Andres Sutt has graduated from Faculty of Economics and Business 

Administration of University of Tartu. From February 1992 to September 

1992 he was a specialist of the Central Bank Policy Department of 

Bank of Estonia; from October 1992 to September 1993 as the head 

specialist of Central Bank Policy Department; from September 1993 

to December 1996 he worked as the deputy manager of the Banking 

Supervision of Bank of Estonia, and from January 1997 to September 

1999 on the position of deputy manager of the Central Bank Policy 

Department of Bank of Estonia. From September 1999 to March 2001 

Mr. Sutt for International Monetary Fund. Since April 2001 Andres 

Sutt is the Deputy Governor and a member of the Executive Management 

of Bank of Estonia.





Jaanus Kosemaa

PR manager

+372 665 1800