Pohjola Pankki Oyj - Company Announcement

Amendment to Agreement on Board Membership

Pohjola Bank plc
Company Release
Release category: Company Announcement
6 May 2011, 8.00 am

Amendment to Agreement on Board Membership


On 5 May 2011, Suomi Mutual Life Assurance Company (Suomi Mutual) and OP-Pohjola
Group Central Cooperative (OP-Pohjola) notified Pohjola Bank plc (Pohjola) of a
share transaction, whereby Suomi Mutual has sold OP-Pohjola all of its Pohjola
Series A shares accounting for 7.26 per cent of all shares and 3.91 per cent of
all votes conferred by the shares. This transaction has amended the agreement on
Board membership.

On 12 September 2005 at the time of the acquisition of Pohjola Group plc, OP-
Pohjola, Suomi Mutual and Ilmarinen Mutual Pension Insurance Company (Ilmarinen)
agreed on measures whereby OP-Pohjola as Pohjola's shareholder at a general
meeting of shareholders would agree to contribute to electing members to
Pohjola's Board of Directors in such a way that one nominee appointed by Suomi
Mutual or Ilmarinen is elected to Pohjola's Board of Directors on conditions
specified in the agreement and in proportion to Suomi Mutual's and Ilmarinen's
shareholdings.

As a result of Suomi Mutual's sale of all of its Pohjola shares, the parties
have amended the agreement to the extent that OP-Pohjola as Pohjola's
shareholder agrees to contribute to electing members to Pohjola's Board of
Directors in such a way that one nominee appointed by Ilmarinen will be elected
to Pohjola's Board of Directors as long as Ilmarinen's shareholding in Pohjola
substantially corresponds to that effective on 5 May 2011.

Pohjola Bank plc



Carina Geber-Teir
Chief Communications Officer



FOR MORE INFORMATION, PLEASE CONTACT:
Vesa Aho, CFO, tel. +358 (0)10 252 2336
Tarja Ollilainen, SVP, Investor Relations, tel. Tel: +358 (0)10 252 4494


DISTRIBUTION
NASDAQ OMX Helsinki
London Stock Exchange
Major media
www.pohjola.fi, www.op.fi


[HUG#1513029]