Tallinna Börs                 NEWS RELEASE                      10/08/2002



LISTING COMMITTEE DECISION ON HANSAPANK



On 08.10.2002 the Listing Committee of Tallinn Stock Exchange (TSE) discussed

the possible breach of the Rules of TSE by Hansapank Ltd. (HP).



Having examined the presented materials, the Listing Committee of TSE decided

that HP failed to apply in September 1998 sufficient internal measures to

ensure the proper fulfillment of the requirements set forth in article 2

("Insider Dealing") of chapter "Requirements for Issuers" (RFI) of TSE Rules.

Among other things, HP had not established the internal rules to prevent the

violations. Thus the Listing Committee has grounds to believe that the

members of the Supervisory and Management Boards of HP were insufficiently

informed of the provisions of RFI, incl. the existence and scope of the

aforementioned prohibitions. Therefore the Listing Committee is of the

opinion that HP has failed to meet the requirements set forth in article 2 of

RFI in full. 



HP has failed to meet the obligations set forth in articles 2.4.1. and 2.4.2.

of RFI, which obligate the issuer to keep a list of persons who have access

to confidential information under RFI, and to inform all the aforementioned

persons of the requirements set forth in RFI, and to obligate the

aforementioned persons to act in accordance with the requirements set forth

in RFI. 



The aforementioned requirements can be considered as fulfilled only in case

the issuer has applied sufficient internal audit measures by effecting the

internal rules to prevent the violations, and ensured that the relevant

persons are sufficiently informed of the internal rules of the issuer, and

explained to the members of the issuer’s executive bodies and the employees

of the issuer the exact nature and scope of the limitations upon their 

actions.  



Proceeding from the above the Listing Committee concluded that the actions of

HP have been in conflict with the provisions of articles 2.4.1. and 2.4.2. of

RFI, and decided to fine HP in the amount of 100 000 Estonian kroons.





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