HANSAPANK

ANNOUNCEMENT



COMMENT TO REUTERS NEWS ABOUT A REDUCTION IN THE WORKFORCE



According to Indrek Neivelt, CEO of Hansabank, the bank is not

planning on reducing the number of employees in Estonia. “Hansapank

will continue its growth oriented strategy also in 2002 and we will

hire new employees during the year.”



However in Lithuania, the bank will rationalise its distribution

network and outsource some functions, which will lead to a reduction

in the workforce, according to Mr Neivelt.



Hansabank Group employs 7391 people in Estonia, Latvia and Lithuania.





Mart Tõevere

Head of investor relations

+372 6131 569