Hansapank                     NEWS RELEASE                10/22/2002 14:00



HANSABANKA TO BUILD NEW HEADQUARTERS



Hansabank’s Latvian daughter bank, Hansabanka, will start the

construction of its new headquarters in Riga. The cost of the project

is estimated at EUR 32 million. Due to several mergers and rapid

organic growth Latvian operations are currently spread between eight

different locations.

Development of a unified office will allow to increase efficiency of

the administrative services, optimize operational processes and

improve inter-departmental cooperation.



The construction of the new building will start already this year and

should be completed by Summer 2004.





Mart Tõevere

Head of investor relations

+372 6131 569