AS HANSAPANK             STOCK EXCHANGE RELEASE             17.12.04



Hansa Leasing set up a subsidiary in Kaliningrad



Hansa Capital’s subsidiary OOO Hansa Leasing set up a leasing

subsidiary in Kaliningrad. This is part of the Group’s strategy to

roll-out leasing and banking operations in Russia. OOO Hansa Leasing

Kaliningrad’s share capital is RUR 60 million (EUR 1.6 million). The

new company will lease industrial equipment and vehicles.



Since Kaliningrad is a free-trade zone, the most efficient way to

offer leasing services in this region is to establish a separate

company (instead of local representative office). Vytautas Bučiunas,

current head of commercial vehicle leasing in the Group’s Lithuanian

leasing unit, will head the new company.



Hansabank Group expanded to the Russian market in 2002. According to

the strategy approved this year, the Group will operate in the Moscow,

St. Petersburg and Kaliningrad regions and focus on serving its

Baltic, Scandinavian and Russian corporate clients.



Additional information:

Druvis Murmanis

Managing Director, Russian operations

Tel. +7 095 781 2225





Mart Tõevere

Head of Corporate Communications and IR

Tel. +372 6131 569