Hansapank                     NEWS RELEASE                07/29/2002 15:00



MOODY'S UPGRADES HANSABANK'S RATING



Moody’s Investors Service upgrades the financial strength rating of

Hansabank from C- to C and changes the outlook to positive.

The deposit ratings are confirmed at Baa1/Prime-2, which is the

sovereign ceiling for Estonia. The A2 and A3 senior and subordinated

debt ratings are also confirmed.



According to Moody’s, the upgrade in the financial strength rating

reflects Hansabank’s dominant position in Estonia, its sound financial

fundamentals and good profitability in combination with a conservative

risk profile. Moody’s also views Hansapank as the strongest financial

institution of the Baltic region.





Mart Tõevere

Head of investor relations

+372 6131 569