Hansabank in negotiations to acquire major Lithuanian bank

12/29/2000 9:54 AM EST

The Lithuanian State Property Fund today announced that it will begin
negotiations with Hansabank, a subsidiary of Swedbank, on the sale of
Lietuvos Taupomasis Bankas (LTB). The negotiations follow a bidding
process in which Hansabank was selected as the sole bidder.

LTB is Lithuania's largest retail bank, with 1.5 million customers. If the
negotiations lead to an acquisition, Hansabank would become by far the
dominant bank in the region, with a strong presence in all three Baltic
nations. Its market share for deposits would exceed 35%.

"This fits in extremely well with Swedbank's strategy of expanding its
home market to the geographical areas around the Baltic Sea, and we fully
support Hansabank's plans," says Annika Wijkström, Executive Vice
President and Head of Bank Alliances at Swedbank.

For further information, please contact:
Annika Wijkström, telephone +46 (0)8 5859 1397
Lennart Lundberg, telephone +46 (0)8 5859 2254, +46 (0)70 218 0318