OKO Pankki Oyj - Company Announcement

REDEMPTION DISPUTE OVER POHJOLA SHARES CONTINUES IN DISTRICT COURT

REDEMPTION DISPUTE OVER POHJOLA SHARES CONTINUES IN DISTRICT COURT              

Some 1,100 of the former minority shareholders of Pohjola Group plc (Pohjola)   
have announced by the deadline to OKO Bank's settlement proposal that they will 
accept the arbitral award issued by the Arbitral Tribunal on 2 May 2007. The    
shareholders who accepted the redemption price of EUR 14.35 set by the Tribunal 
consequently now represent about 76.9% of the disputed Pohjola shares held by   
minority shareholders.                                                          

In other respects, the redemption dispute on Pohjola shares held by minority    
shareholders continues at the Helsinki District Court. This concerns the        
redemption price to be determined for approx. 3.5 million Pohjola shares. OKO   
Bank has appealed that the share price of EUR 13.35 which it offered earlier be 
confirmed as the redemption price. In addition to OKO Bank, some other          
individual minority shareholders and the special representative have appealed   
the arbitral award.                                                             

OKO Bank Plc                                                                    


Markku Koponen                                                                  
Senior Vice President                                                           

DISTRIBUTION                                                                    
OMX Nordic Exchange Helsinki                                                    
Principal media                                                                 
London Stock Exchange                                                           
SWX Swiss Exchange                                                              
www.oko.fi                                                                      

FOR MORE INFORMATION, PLEASE CONTACT                                            
Senior Vice President Markku Koponen (Corporate Communications), tel. +358 10   
252 2648