EESTI ÜHISPANK

ANNOUNCEMENT



RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF SHAREHOLDERS



The Annual General Meeting of Shareholders of AS Eesti Ühispank,  held

on April 7, 2000 was attended by 92 shareholdres/representatives.  The

number of votes  represented was 43'052'136  making up 64.68  per cent

of the total votes granted by the shares of AS Eesti Ühispank.



The Annual General  Meeting of Shareholders  of AS Eesti  Ühispank has

passed the following resolutions:



1.  To  approve  the  Annual  Report  of  AS  Eesti  Ühispank  for the

financial year 1999.  To retain the earnings of 1999 in the amount  of

EEK 129'208'703 (one hundred  and twenty-nine million two  hundred and

eight thousand  seven hundred  and three)  to cover  the loss incurred

during earlier periods.

In favour 41'424'908 Votes, 96.22 % of registered



2. To appoint Urmas Kaarlep, auditor of AS PricewaterhouseCoopers,  to

serve as auditor  authorised to carry  out the statutory  audit in the

2000 financial year.   To remunerate for  the services provided  under

the agreement, which is to be concluded with the audit firm.

In favour 43'039'508 Votes, 99.97 % of registered



3. To elect eight (8) persons  as members of the Supervisory Board  of

AS Eesti Ühispank.

In favour 41'008'777 Votes, 95.25 % of  registered



4. To elect Mart  Avarmaa as a member  to the Supervisory Board  of AS

Eesti Ühispank.

In favour  41'283'659 Votes, 95.89 % of registered



5. To elect  Per-Arne Magnus Carlsson  as a member  to the Supervisory

Board of AS Eesti Ühispank.

In favour 41'428'273    Votes, 96.23 % of registered



6. To elect Petteri Karttunen as a member to the Supervisory Board  of

AS Eesti Ühispank.

In favour 41'301'514 Votes, 95.93 % of registered



7. To  elect Mats  Kjaer as  a member  to the  Supervisory Board of AS

Eesti Ühispank.

In favour 41'428'848 Votes, 96.23 % of registered



8. To elect Andres Lipstok as a member to the Supervisory Board of  AS

Eesti Ühispank.

In favour 41'280'254 Votes, 95.88 % of registered



9. To elect  Aadu Luukas as  a member to  the Supervisory Board  of AS

Eesti Ühispank.

In favour 41'367'843 Votes, 96.09 % of registered



10.  To  elect  Tord  Martin  Olofsson  as a member to the Supervisory

Board of AS Eesti Ühispank.

In favour 41'368'892 Votes, 96.09 % of registered



11. To  elect Koit  Uus as  a member  to the  Supervisory Board  of AS

Eesti Ühispank.

In favour 41'225'054 Votes, 95.76 % of registered



12. To pay a Supervisory Board members of AS Eesti Ühispank a  monthly

fee in  the amount  of EEK  8 000.   Representatives of  Skandinaviska

Enskilda Banken shall not be paid that fee.

In favour 40'644'020 Votes, 94.41 % of registered



Management Board of Eesti Ühispank





Urmas Neetar

head of reporting dept.

6 656 390