EESTI ÜHISPANK

ANNOUNCEMENT



RESOLUTION OF THE SUPERVISORY BOARD OF AS EESTI ÜHISPANK



On 28 August,  Skandinaviska Enskilda Banken  AB announced its  intent

to make a take-over  bid to the shareholders  of AS Eesti Ühispank  in

regard to  all their  shares at  the price  of EEK  38 per  share. The

Supervisory Board members  of AS Eesti  Ühispank Andres Lipstok,  Koit

Uus, Aadu Luukas,  Tord Martin Olofsson  and Mart Avarmaa  who are all

independent  from   the  bidder   Skandinaviska  Enskilda   Banken  AB

resolved, on the  basis of the  disclosed information, at  the meeting

held on  5 September,  2000 that  the price  of the intended take-over

bid  is  fair  and  reasonable  and  therefore they recommend that the

shareholders accept the bid.  The above Supervisory Board  members are

of the opinion that  the bid is beneficial  both for the interests  of

AS Eesti Ühispank, its clients as well as for its employees.



Note  1:  The  Supervisory  Board  members  of  AS Eesti Ühispank Mats

Kjaer, Magnus  Carlsson and  Petteri Karttunen  did not  take part  in

passing the above  resolution since they  were elected the  members of

the  Supervisory  Board  of  Eesti  Ühispank  on  the  proposition  of

Skandinaviska Enskilda Banken AB.



Note 2: The present announcement  is not considered to be  the Opinion

of the Target  Company as set  by the Take-over  Rules of the  Tallinn

Stock Exchange Rules.  AS Eesti Ühispank  shall submit the  Opinion of

the  Target  Company  after  the  announcement  and  prospectus of the

take-over  bid  have  been  disclosed  according  to  the Rules of the

Tallinn Stock Exchange.



Eero Raun

Head of PR-department

Eesti Ühispank

+372 6655 256





Urmas Neetar

head of reporting department

6 656 390