Pohjola Pankki Oyj - Company Announcement

OP-Pohjola Group Central Cooperative and financial instrument issuer Pohjola adopt Group-level Communications and Disclosure Policy

Pohjola Bank plc
OP-Pohjola Group Central Cooperative
Stock Exchange Release
18 December 2014

OP-Pohjola Group Central Cooperative and financial instrument issuer Pohjola
adopt Group-level Communications and Disclosure Policy


OP-Pohjola Group Central Cooperative's Executive Board and Pohjola Bank plc's
("Pohjola") Board of Directors approved on 16 December 2014 OP-Pohjola Group's
Group-level Communications and Disclosure Policy. This replaces the Disclosure
Policy issued by Pohjola on 17 December 2013. The Communications and Disclosure
Policy will be applied to financial instrument issuers Pohjola and OP Mortgage
Bank ("OPA") that are part of the Group and to the communication principles and
methods of OP-Pohjola Group. OPA's Board of Directors also approved the Policy
on 18 December 2014.

This change in the Communications and Disclosure Policy is related to OP-Pohjola
Group Central Cooperative's the public voluntary bid for Pohjola shares, the
delisting of Pohjola's series A shares from Helsinki Stock Exchange on 30
September 2014, and the reform of OP-Pohjola Group's management system and
organisation.

In the Group-level Communications and Disclosure Policy, bond issuers Pohjola
and OPA and the parent institution OP-Pohjola Group Central Cooperative comply
with Finnish legislation, the rules of NASDAQ OMX Helsinki and, when applicable,
other stock exchanges, and the regulations and instructions issued by the
Finnish Financial Supervisory Authority. In addition to the above, OP-Pohjola
Group's communication takes into account Corporate Governance Recommendations
and the Code of Business Ethics.

The Group-level Communications and Disclosure Policy also covers the
Communications and Disclosure Policy of financial instrument issuers Pohjola and
OPA.

The purpose of OP-Pohjola Group's Communications and Disclosure Policy is to
ensure that all market participants have sufficient and accurate information
concerning OP-Pohjola Group's decisions and any matter that may materially
affect the value of securities issued by Pohjola and OPA. OP-Pohjola Group will
decide upon disclosure of information on the basis of whether a decision or
matter will affect the issuer's repayment capacity. Information with regard to
securities issued by Pohjola and OP Mortgage Bank is decided upon on a case-by-
case basis with the issuer. Responsibility for the issuer's disclosure
obligation is held by each issuer.

As stated in the Communications and Disclosure Policy, OP-Pohjola Group Central
Cooperative's duty is to ensure that information concerning Pohjola and OPA that
falls under periodic disclosure and continuous disclosure obligation is
published, distributed and made available. The subsidiaries will report and
publish their own interim reports, financial statements and reports by the Board
of Directors. Information is published either jointly by OP-Pohjola Group and
the issuer, or by the issuer on its own.

The Communications and Disclosure Policy describes the key principles and
policies followed by OP-Pohjola Group and issuers in their communication with
capital market participants and other stakeholders. In addition, the Policy
describes the disclosure, dissemination and storage of the information within
the scope of periodic and continuous disclosure obligation. OP-Pohjola Group
assesses the Policy's consistency, suitability and sufficiency on a regular
basis, at least once a year.

The Communications and Disclosure Policy uses terminology that will come in
effect on 1 January 2015. OP-Pohjola Group will be changed to OP Financial Group
and OP-Pohjola Group Central Cooperative to OP Cooperative.

The Communications and Disclosure Policy is available on OP-Pohjola Group's
website op.fi > OP Pohjola Group > Corporate Governance and on the Pohjola
website pohjola.com > Investor Relations > Corporate Governance > Disclosure
Policy.

Pohjola Bank plc
OP-Pohjola Group Central Cooperative
Carina Geber-Teir
Chief Communications Officer


For more information:
OP-Pohjola Communications, media contacts, tel. +358 (0)50 523 9904

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


Pohjola is part of Finland's leading customer-owned financial services group OP-
Pohjola Group. Pohjola provides its customers with banking, non-life insurance
and asset management services. Pohjola acts as OP-Pohjola Group's central bank
and is responsible, together with OP Mortgage Bank, for the Group's funding in
the money and capital markets. As laid down in the applicable law, Pohjola, its
parent company OP-Pohjola Group Central Cooperative and other OP-Pohjola Group
member credit institutions are ultimately jointly and severally liable for each
other's debts and commitments. Joint and several liability within OP-Pohjola
Group is based on the Laki talletuspankkien yhteenliittymästä Act (Act on the
amalgamation of deposit banks). Financial services provider OP-Pohjola Group is
continuing its revamp - this time the focus is on its brand. The changes under
way form part of the creation of a new financial services group fully owned by
its customers. As of 1 January 2015, OP-Pohjola Group will be called OP.
www.pohjola.com

The Group's mission is to promote the prosperity, well-being and security of its
customer-owners, customers and operating regions through its local presence. Its
objective is to offer the best and most versatile package of loyal customer
benefits on the market. OP-Pohjola Group consists of about 180 member
cooperative banks, its central institution OP-Pohjola Group Central Cooperative,
and the latter's subsidiaries and affiliates. The Group has a staff of 12,000.
www.op.fi



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