AS HANSAPANK             STOCK EXCHANGE RELEASE             25.11.2004



Hansabank’s banking operations in Russia



Hansabank’s Council approved the increase of the share capital of

Hansabank’s future banking subsidiary in Russia to EUR 81 million.

Hansabank signed a purchase agreement of the Russian Kvest bank in

Moscow in September of this year. Closing of the transaction is

subject to receiving regulatory approvals. Hansabank will pay

approximately 3.4 million US dollars (2.8 million euros) for 100% of

the bank’s shares. After closing of the agreement Hansabank will raise

the share capital of the bank to the above mentioned level.

The Estonian Financial Supervisory Authority has already given

Hansabank its approval for the said acquisition. In the nearest future

Hansabank will submit an application also to the Russian Central Bank.



Hansabank Group expanded to the Russian market in 2002. According to

the strategy approved this year, the Group will operate in the Moscow,

St. Petersburg and Kaliningrad regions and focus on serving its

Baltic, Scandinavian and Russian corporate clients.





Mart Tõevere

Head of Corporate Communications and IR

Tel. +372 6131 569