Hansapank                     NEWS RELEASE                      11/06/2003



FITCH UPGRADES SHORT-TERM RATING



Fitch Ratings (Fitch) has today upgraded Hansabank’s short-term rating

to F1 from F2. At the same time the agency has changed the Support

rating assigned to the bank in July from ‘2’ to ‘1’ and the Outlook on

the Long-term rating to Positive from Stable. The Long-term rating is

affirmed at ‘A-‘ as it is constrained by the sovereign’s Long-term

foreign currency rating of ‘A-‘.



The rating action follows the recent change in Outlook to Positive

from Stable for Estonia’s Long-term foreign currency rating. It also

reflects Fitch’s opinion that there is a very high probability that

Hansapank’s majority shareholder, ForeningsSparbanken (Swedbank, rated

A+) would provide support for its Estonian subsidiary should this ever

be required.





Siim Männik

Corporate Communications and I

+372 613 3712