Hansapank                     NEWS RELEASE                      12/12/2002



MOODY'S UPGRADES HANSABANK'S RATINGS



Moody’s today upgraded Hansabank’s deposit and debt ratings. The

bank’s deposit ratings were raised from Baa1/P-2 to A1/P-1. The senior

unsecured debt rating was lifted from A2 to A1 and the subordinated

debt rating from A3 to A2. The action follows the positive outlook

given to the ratings after an upward revision of the Estonian foreign

currency ceiling from Baa1 to A1 in November 2002.

Moody’s added that an important consideration in the rating upgrade

was the extent and support provided by Hansabank’s strategic partner,

Swedbank.



Hansapank:

Deposit ratings          A1/P-1

Financial strength       C (positive outlook)

Senior unsecured debt    A1

Subordinated debt        A2





Mart Tõevere

Head of investor relations

+372 6131 569