EESTI ÜHISPANK

ANNOUNCEMENT



SAULES BANKA SALES AGREEMENT WILL NOT BECOME EFFECTIVE



On  December  18th,  1999,  representatives  of Eesti Ühispank and Mr.

Ernesto Preatoni,  a private  investor, signed  an agreement according

to which Eesti  Ühispank sold all  the shares of  Saules Banka to  Mr.

Preatoni.  One  of  the  conditions  of  the  agreement  was  that the

agreement will  come into  force after  the granting  of permission by

the Central  Bank of  Latvia (see  bourse bulletin  of Eesti  Ühispank

from December 20th, 1999 - "Ühispank sold 100% of Saules Banka").



The  Central  Bank  of  Latvia  did  not  grant  its permission to Mr.

Ernesto  Preatoni  to  acquire  the  relevant  participation in Saules

Banka.   Therefore  the  agreement  between  Eesti  Ühispank  and  Mr.

Preatoni about the sales of the shares of Saules Banka, will not  come

into force.  Eesti Ühispank will  continue to be the core investor  of

Saules Banka.



Eero Raun

Head of Public Relations Department

Eesti Ühispank

Tel.: +372 6655 256





Urmas Neetar

head of reporting dept.

6 656 390