Hansapank                     NEWS RELEASE                09/15/2003 15:30



BID FOR LITHUANIAN LIFE INSURANCE COMPANY



Hansabank’s Lithuanian subsidiary AB Bankas Hansabankas has today

submitted a binding offer for acquiring 100% of the life insurance

subsidiary of UAB Lietuvos Draudimas, UAB Lietuvos Draudimo Gyvybes

Draudimas (LDGD). The offer is priced at LTL 63.5 million (EUR 18.4m).



LDGD holds 42% of the Lithuanian life insurance market. Collected

premiums in the first half of 2003 amounted to LTL 42.2 million (EUR

12.2m).



According to Hansabank CEO Indrek Neivelt this acquisition is of

strategic importance for the Group. "Buying the leading life insurance

company in Lithuania supports our strategy of offering clients the

full spectrum of financial services", said Indrek Neivelt.



Dalius Kaveckas, Deputy Chairman of the Board of Hansabankas,

emphasized that LDGD has a very strong position on the market.

"Lietuvos Draudimo Gyvybes Draudimas is the leading life insurer in

Lithuania not only by market share, but also by the competence and

professionalism of its employees", Dalius Kaveckas said.



1 EUR = 3.4528 LTL



Additional information



Priit Põldoja

Head of Investment Management, Hansabank

Tel. +372 613 3581



Dalius Kaveckas

Head of Retail Banking, Hansabankas

Tel. +370 5 2684351





Siim Männik

Investorsuhted

+372 613 3712