Tallinn Stock Exchange          NEWS RELEASE                   01.03.2005



CASH OFFER TO AS HANSAPANK SHAREHOLDERS



NOTICE OF CASH OFFER



In accordance with the Rules of Takeover Bids and other laws effective

in Estonia, FöreningsSparbanken AB (“FöreningsSparbanken”), a company

incorporated pursuant to the laws of Sweden, registration number

502017-7753, address 105 34 Stockholm, Sweden, is offering to acquire

all shares of AS Hansapank (“Hansabank”), a company incorporated

pursuant to the laws of Estonia, registry code 10060701, address

Liivalaia 8, Tallinn 15040, Estonia, not already owned by

FöreningsSparbanken from shareholders of Hansabank (“Shareholders”) on

the following terms and conditions (the “Offer”):



The persons acting in concert with FöreningsSparbanken within the

meaning of Article 168 of the Securities Market Act of Estonia are the

companies controlled by FöreningsSparbanken.



1.   Number of shares of Hansabank owned by FöreningsSparbanken and

  persons acting in concert



FöreningsSparbanken is the beneficial owner of 189,504,712 shares of

Hansabank, representing 59.71 per cent of the total number of shares

of Hansabank. As at 23 February 2005, Hansabank was the registered

owner of 539,823 shares of Hansabank, representing 0.17 per cent of

the total number of shares of Hansabank, AS Hansa Investeerimisfondid

was the registered owner of 42,468 shares of Hansabank, representing

0.01 per cent of the total number of shares of Hansabank, and AS Hansa

Elukindlustus was the registered owner of 99,300 shares of Hansabank,

representing 0.03 per cent of the total number of shares of Hansabank.

None of the other persons acting in concert with FöreningsSparbanken

is the beneficial owner of any shares of Hansabank.



2.   Description of shares in respect of which the Offer is made



The total number of shares issued by Hansabank is 317,368,436, all of

which are Class B registered common shares, each with a nominal value

of EEK 10.00 (the “Shares”).



The Offer is made in respect of all Shares not already owned by

FöreningsSparbanken, being 127,863,724 Shares, representing 40.29 per

cent of all Shares.



Pursuant to the articles of association of Hansabank, each common

share gives the shareholder one vote at the general meeting of

shareholders and entitles the shareholder to participate in the

distribution of profits and assets remaining upon the dissolution. All

Shares are freely transferable.



The Shares are listed on the Tallinn Stock Exchange.



3.   Purchase price



EEK 172.11 (EUR 11.00)* per Share (the “Share Price”).



4.   Offer period



The period of acceptance of the Offer (the “Offer Period”) begins on 1

March 2005 and ends on 4 April 2005 (the “Final Date”). The

transaction instructions of the Shareholders wishing to accept the

Offer must be registered with the Estonian Central Register of

Securities (the “ECRS”) by 5 p.m. Estonian time on the Final Date.



5.   Condition for the completion of the Offer



The rights and obligations determined by the Offer shall arise in case

the following condition (“Condition Precedent”) is fulfilled:



Shareholders give acceptances to the Offer to such an extent that

FöreningsSparbanken will hold at least ninety five per cent (95%)

of all Shares.



FöreningsSparbanken shall have the right to waive the Condition

Precedent, however, not later than on the 10th calendar day before the

expiry of the Offer Period.



6.   Method of payment of the purchase price and transfer of Shares



FöreningsSparbanken shall pay the purchase price to each Shareholder

who has accepted to sell his/her/its respective Shares to

FöreningsSparbanken on 11 April 2005 (the “Value Date”) to such

accepting Shareholder’s cash account connected to his/her/its

securities account. FöreningsSparbanken shall pay the purchase price

to each accepting Shareholder against the delivery of Shares by such

accepting Shareholder to FöreningsSparbanken (delivery versus

payment).



7.   Procedure for accepting the Offer



Each Shareholder wishing to accept the Offer should contact the

relevant financial institution operating the securities account on

which the Shares belonging to such Shareholder are held (ECRS account

operator) and register a transaction instruction in accordance with

the terms specified in the prospectus of the Offer (the “Prospectus”)

in more detail, for the sale of Shares to FöreningsSparbanken against

payment.



8.   Offer timetable



1 March 2005 – 4 April 2005    Offer Period

7 April 2005                   Publication of results

11 April 2005                  Value Date



The Prospectus will be made electronically available on the Internet

website of the Tallinn Stock Exchange (www.ee.omxgroup.com) and the

printed Prospectus will be made available at AS Hansapank, address

Liivalaia 8, Tallinn 15040, Estonia.



All information contained in this notice of the Offer and the

Prospectus is presented as of 11 February 2005 (except if expressly

stated otherwise), the date for submission of the Prospectus and the

notice of the Offer to the Estonian Financial Supervision Authority

(Finantsinspektsioon) for approval.



This notice of the Offer, the Prospectus and the terms of the Offer

have been approved by the Estonian Financial Supervision Authority on

28 February 2005.





The Offer is not directed towards any person whose participation

requires additional prospectus, registration or other measures than

those required by Estonian or Swedish law. Specifically, the Offer is

not being made directly or indirectly in or into the United States of

America, Australia, Japan or Canada. Copies of the Prospectus or any

other documents related to the Offer must not be mailed or otherwise

distributed or sent in or into or from the United States of America,

Australia, Japan or Canada, and persons receiving the Prospectus or

any other documents related to the Offer (including, without

limitation, custodians, nominees and trustees) must not distribute or

send them in, into or from the United States of America, Australia,

Japan or Canada. The Prospectus or any other documents related to the

Offer may not be distributed to or in any other country where such

distribution (i) requires additional registration or other measures

than those prescribed by Estonian and Swedish law or (ii) conflicts

with prevailing legislation or regulations in such country.



_____________________________

* The Share Price as stated in EUR has been converted from EEK using

the peg of EEK 15.6466 for 1 EUR. Depending on the account operator of

the respective Shareholder, different conversion rates may be applied

for those Shareholders wishing to convert the payment in EEK into EUR.