HANSAPANK

CORRECTIVE ANNOUNCEMENT



MISTAKE IN THE ANNOUNCEMENT MADE ON 16.12.99



There is a mistake in the last paragraph of the English version of the 

press release issued on December 16 on the planned increase of the 

share capital of Hansabankas. The currency used in the last paragraph 

should be EEK not LTL. The corrected press release follows:



ADDITIONAL INVESTMENTS INTO THE SHARE CAPITAL OF HANSABANKAS’



On Thursday, December 16, the council of Hansapank approved the plan

to invest additional LTL 20 million in the share capital of the

Lithuanian subsidiary  - Hansabankas, whereby its share capital would

increase to LTL 53 million.



According to the CEO of Hansapank, Mr Indrek Neivelt, the launch of

Hansabankas been excellent. “Their development has been faster than

even our most ambitious plans”, said Mr Neivelt. Mr. Neivelt hoped

that the share capital increase will improve the competitiveness of

Hansabankas even further in the Lithuanian market.



Chairman of the Board of Hansabankas, Mr. Arunas Siksta agreed that

the decision of Hansapank’s council has a significant influence on the

development of Hansabankas as well as the whole Hansabank Group. “This

will certainly increase our potential in the market and improve our

competitiveness. We will become stronger and more flexible”, said Mr

Siksta.



By the end of November Hansabankas’ total assets already amounted to

EEK 264.1 million, clients’ deposits to EEK 130.3 million and loans to

EEK 88 million.



1 LTL = 0.25 USD





Mart Tõevere

Analyst

+372 6131 569