HANSAPANK

ANNOUNCEMENT



PROFIT DISTRIBUTION PROPOSAL



Hansapank's board proposes to distribute the profit as follows:

The 1999 net income in the amount of 540,266,952.00 (five hundred and

forty million two hundred and sixty six thousand nine hundred and

fifty two) kroons will be distributed together with the retained

earnings from the previous periods in the amount of 260,400,128.00

(two hundred and sixty million four hundred thousand one hundred and

twenty eight) kroons.



To distribute the total 800,667,080.00 (eight hundred million six

hundred and sixty seven thousand and eighty) kroons as follows:



to assign 9,340,717.00 (nine million three hundred and forty thousand

seven hundred and seventeen) kroons to the reserve capital;

to assign 63,973,765.00 (sixty three million nine hundred and seventy

three thousand seven hundred and sixty five) kroons to the general

banking reserve;



to pay 393,822,170.00 (three hundred and ninety three million eight

hundred and twenty two thousand one hundred and seventy) kroons as

dividends to the shareholders (5.00 kroons per share)



to retain 333,440,428.00 (three hundred and thirty three million four

hundred and forty thousand four hundred and twenty eight) kroons

undistributed. The retained earnings are subject to deduction by

income tax calculated on the basis of shareholder structure at the day

the list of shareholders entitled to dividend is fixed.



The shareholders registered in the shareholders’ registry on 3 May

2000 at 8.00 a.m shall be entitled to dividend. The dividends shall be

paid to shareholders not later than on 10 May 2000.





Mart Tõevere

Investor relations

+372 6131 569