Hansapank                     NEWS RELEASE                      04/03/2003



DECISIONS OF THE ANNUAL GENERAL MEETING



The  2003 Annual General Meeting of Shareholders held on 3 April 2003,

decided:



1. ANNUAL REPORT OF FINANCIAL YEAR 2002



Having reviewed the annual accounts and management report (jointly:

Annual Report), together with the auditors’ report and the proposal

for distribution of profits, the Annual General Meeting resolved to

approve the Annual Report of 2002 and distribute the profit as

follows:



The 2002 net income in the amount of 1,746,732,945  (one billion seven

hundred and forty six million seven hundred and thirty two thousand

nine hundred and forty five) kroons (111,636,296 euros) will be

distributed together with the retained earnings from the previous

periods in the amount of 3,270,557,542 (three billion two hundred and

seventy million five hundred and fifty seven thousand five hundred and

forty two) kroons (209,026,190 euros).



To distribute the total retained earnings of 5,017,290,487 (five

billion seventeen million two hundred and ninety thousand four hundred

and eighty seven) kroons (320,662,486 euros) as follows:



to pay 476,052,654 (four hundred and seventy six million fifty two

thousand six hundred and fifty four) kroons (30,425,232 euros) as

dividends (6.00 kroons per share);



to allocate 485,000 (four hundred and eighty five thousand) kroons

(30,997 euros)  to statutory reserves; and



to retain 4,540,752,833 (four billion five hundred and forty million

seven hundred and fifty two thousand eight hundred and thirty three)

kroons (290,206,257 euros) undistributed.



The date of closing the list of shareholders entitled to receive

dividend shall be 17 April 2003 at 8:00 a.m. The dividend shall be

paid out on 25 April 2003.





2. AMENDMENTS TO ARTICLES OF ASSOCIATION



2.1 To amend and supplement the Articles of Association as follows:

2.1.1 To supplement Article 26 of the Articles of Association and

stipulate it as follows:

" 26. Liability of Members of the Management Board

(1) The members of the Management Board who cause damage to the Bank

by violation of their obligations, shall be jointly and severally

liable for compensating for the damage caused.

(2) The members of the Management Board shall perform their

obligations arising from law, these Articles of Association or

agreement concluded with them with the diligence normally expected

from a member of a management board. The members of the Management

Board must be loyal to the Bank.

(3) The limitation period for assertion of a claim against a member of

the Management Board shall be five (5) years from the occurrence of

the violation.

(4) The members of the Management Board shall be obliged to keep the

Bank's business and bank secrets."



2.1.2 To amend Section 34 (1) of Articles of Association and stipulate

it as follows:

"34. Preparation, Presentation and Approval of the Annual Report

(1) After the end of the financial year the Management Board shall

prepare the annual accounts and management report (hereinafter

jointly: Annual Report) according to the procedure provided by law and

present the Annual Report together with the auditors’ report and the

proposal for profit distribution to the General Meeting."



2.2 To approve the revised Articles of Association.





3. RECALLING OF MEMBERS OF THE COUNCIL



To recall all members of the Council:

Anders Folke Sahlén, Annika Wijkström, Staffan Crona, Lars-Erik Kvist,

Lennart Lundberg, Tiina Mõis, Gunnar Okk, Meelis Milder and Endel

Siff.





4. ELECTING MEMBERS OF THE COUNCIL



To elect the following nine individuals as members of the Council:

Anders Folke Sahlén, Staffan Crona, Lars-Erik Kvist, Lennart Lundberg,

Tiina Mõis, Gunnar Okk, Meelis Milder, Endel Siff and Robert

Charpentier.





5. DECIDING OVER COUNCIL MEMBERS’ REMUNERATION



In accordance with Section 326 of the Commercial Code, the determine

the remuneration of Council members as follows:

5.1 For performing his or her duties, the Chairman of the Council

shall be paid a monthly fee of 30 000 kroons;

5.2 For performing their duties, Members of the Council, other than

the Chairman, shall be paid a monthly fee of 5000 kroons. In addition,

Members of the Council, other than the Chairman, shall be paid a fee

of 5000 kroons for every Council meeting attended;

5.3 To task the Board to execute the above resolutions.





6. ELECTING THE AUDITOR



6.1 In accordance with Section 328 of the Commercial Code and Section

94 (1) of the Credit Institutions Act, to elect Mr Veikko Hintsov,

auditor’s certificate No. 328, domicile Tallinn, from the audit firm

AS Deloitte & Touche Audit, registration code No 10687819, as the

Bank’s independent auditor for the financial year 2003;

6.2 The auditor shall be remunerated pursuant to an agreement to be

concluded between the auditor and the Board of Management;

6.3 To authorise the Board of Management to conclude an audit service

agreement with the audit firm AS Deloitte & Touche Audit.





Mart Tõevere

Head of investor relations

+372 6131 569