Swedbank exercises option agreement in Hansabank

Swedbank exercises option agreement in Hansabank In line with previous announcements, Swedbank (FöreningsSparbanken AB) now has exercised a purchasing option, and acquired a further 2,093,832 shares in the Estonian Hansabank. The acquisition represents 2.66 percent of the shares, and means that FöreningsSparbanken's stake in Hansapank corresponds to 52.64 percent of the total number of votes. This means, due to the timing of the transaction, that Hansabank will be consolidated through the equity method in the Swedbank profit and loss account as of December 31st 1999 and not, as was previously announced, in accordance with the purchase accounting method as of December 1st 1999. However, in the Swedbank Group balance sheet as of December 31st 1999 Hansabank's assets and liabilities will be fully consolidated through the purchase accounting method. From and including year 2000 Hansbank will be consolidated through the accounting purchase method also in the profit and loss account. For further information, please contact: Christer Westholm, Financial Manager, Swedbank, Tel: +46-8-585 915 85 Einar Frydén, Information Manager. Tel: +46-8-585 916 30, +46 705 11 00 33 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/29/19991229BIT00110/bit0001.doc http://www.bit.se/bitonline/1999/12/29/19991229BIT00110/bit0002.pdf