OKO Pankki Oyj - Company Announcement

Arbitration court ruling in shareholder agreement dispute

Arbitration court ruling in shareholder agreement dispute                       

In its ruling today, a court of arbitration obligated OKO Bank to pay 32 savings
banks a total of around EUR 8.8 million in liquidated damages, plus interest and
expenses. The impact of the arbitration court ruling on the OKO Bank first      
quarter consolidated earnings before tax is around EUR 10 million. In accordance
with the ruling of the arbitration court, Pohjola Group plc (Pohjola) had       
substantially violated provisions in the shareholder agreement on Nooa Savings  
Bank Ltd.                                                                       

The dispute on the shareholder agreement was related to the transaction through 
which OKO Bank, on 12 September 2005, acquired the majority shareholding in     
Pohjola from Suomi Mutual Life Assurance Company and Ilmarinen Mutual Pension   
Insurance Company. After the transaction, cooperation between the savings banks 
and Pohjola regarding Nooa Savings Bank came to an end. Pohjola merged with OKO 
Bank at the end of 2006.                                                        

OKO Bank plc                                                                    



Markku Koponen                                                                  
Senior Vice President                                                           

DISTRIBUTION                                                                    
Helsinki Stock Exchange                                                         
London Stock Exchange                                                           
SWX Swiss Exchange                                                              
Principal media                                                                 


FOR MORE INFORMATION, please contact                                            
Mr Mikael Silvennoinen, President and CEO, tel. +358 10 252 2549                
Mr Ilkka Salonen, CFO, tel. +358 10 252 3146