Pohjola Pankki Oyj - Company Announcement

Moody's Downgrades Pohjola's Ratings

Pohjola Bank plc		                                                           
Company release 
Release category: Stock Exchange Release                                        
8 September 2009 at 4.30 pm Finnish time (GMT+3)                                

Moody's Downgrades Pohjola's Ratings                                            

Moody's Investors Service has downgraded Pohjola Bank's long-term rating from   
Aa1 to Aa2 and its bank financial strength rating (BFSR) from C+ to C-. At the  
same time, the Prime-1 short-term rating was affirmed. The rating outlook is    
negative.                                                                       

Moody's also downgraded OP-Pohjola Group's BSFR from B to B- and Pohjola        
Insurance Ltd's insurance financial strength (IFSR) from A1 to A2. The outlook  
on these ratings is also negative.                                              

According to Moody's, the downgrade reflects the further deterioration of the   
Finnish economy and its possible effects on the bank.                           

Pohjola Bank plc                                                                
Carina Geber-Teir                                     
Senior Vice President, Corporate Communications                                 

For further information, please contact Jouko Pölönen, CFO, tel. +358 (0)10 252 
3405 or                                                                         
Tarja Ollilainen, Senior Vice President, Investor Relations, tel. +358 (0)10 252
4494                                                                            

Distribution                                                                    
NASDAQ OMX Helsinki                                                             
London Stock Exchange                                                           
SWX Swiss Exchange                                                              
Major media                                                                     
op.fi and pohjola.fi