HANSAPANK

ANNOUNCEMENT



ADDITIONAL INFORMATION ON VENTSPILS UBB



(LVL in millions)     1997    1998    1999

Total revenue         1,72    0,94    2,70

Net profit            0,78    0,36    1,23

Dividend per share       -    7,67     n/a

(LVL)

EPS (LVL)             35,4    16,2    55,4



List of loans received by Ventspils UBB as of December 31, 1999

Repo 29.12.99 – 10.01.00 LVL 2 million



Shareholders of Ventspils UBB

Shareholder                             %

A/s “OST Servies AG”                 28,7

A/s “Kalija parks”                   28,7

Vent Company Limited                 17,7

City of Ventspils                    16,5

A/s “Ventamonjaks”                    8,4



Members of the Board

Chairman of the Board    Raimonds Kalnins

Members of the Board     Daina Jeka

                         Lidija Ivanova



Members of the Council

Chairman of the Council  Ansis Sormulis

Members of the Council   Natalija Striga

                         Jurijs Bespalovs



Ventspils UBB does not have any pending court cases that might

materially influence their financial performance.





Balance sheet

(thousand LVL, *unaudited)         31.12.97   31.12.98  31.12.99*

Assets                                                           

Cash and due from Central Bank        2,938      8,810      6,336

Due from credit institutions         16,754     14,235     11,288

Loans, net                           13,110     16,066     14,735

Fixed income securities               5,104      6,876     15,308

Shares                                  953      1,345        997

Intangible assets                        13         10          8

Fixed assets, net                       324        440        481

Other assets                              5         12        130

Accrued income                          100        141        404

Asset management                      1,069      1,941      2,541

Total Assets                         40,370     49,876     52,228

                                                                 

Liabilities                                                      

Due to credit institutions            3,000      2,500      2,084

Deposits                             32,487     41,181     41,870

Other liabilities                        34        116        532

Total Liabilities                    35,521     43,797     44,486

Capital and reserves                                             

Common stock                          1,858      3,309      3,737

Share premium                            12         12         12

Capital reserves                      2,081        648        282

Retained earnings                     (171)        169      1,170

Total shareholders’ equity            3,780      4,138      5,201

Total liabilities and                39,301     47,935     49,687

shareholders’ equity

Asset management                      1,069      1,941      2,541

Total liabilities, equity and        40,370     49,876     52,228

asset management



Income Statement

(Thousand LVL, *unaudited)             1997       1998      1999*

Interest income                       2,102      2,531      3,138

Interest expense                      (646)      (702)      (972)

Net interest income                   1,456      1,829      2,166

Fees and commissions received           124        164        181

Service fees paid                      (40)       (85)       (85)

Net fees                                 84         79         96

Trading income                          146      (987)        414

Other income                             29         22         25

Total revenues                        1,715        943      2,701

Administration expenses               (573)      (640)      (832)

Depreciation                           (57)       (92)       (96)

Other regular expenses                 (15)        (5)        (2)

Provisions for loans                  (695)      (588)      (189)

Released provisions                     391        805        102

Profit before tax                       766        423      1,684

Income tax                               19       (62)      (448)

Other taxation expenses                 (4)        (3)        (4)

Net profit                              781        358      1,232





Mart Tõevere

Analyst

+372 6131 569