Pohjola Pankki Oyj - Company Announcement

Court of Appeal ruling stands on redemption dispute concerning Pohjola Group plc shares held by minority shareholders

Pohjola Bank plc                                                                
Company release                                                                 
Release category: Stock Exchange Release                                        
2 August 2010 at 2.00 pm                                                        

Court of Appeal ruling stands on redemption dispute concerning Pohjola Group plc
shares held by minority shareholders                                            

The ruling made on 27 May 2010 by Helsinki Court of Appeal concerning the       
redemption price of Pohjola Group plc shares held by minority shareholders      
became legally binding at the end of July 2010. Neither Pohjola Bank plc        
(hereinafter the Bank) nor any of the other parties concerned have applied for  
leave to appeal to the Supreme Court. The redemption price confirmed by the     
Court of Appeal, EUR 13.35 per share, is the same as that initially bid by the  
Bank for Pohjola Group plc shares held by minority shareholders. The Court of   
Appeal confirmed the interest payable on the redemption price at 5.5 per cent as
of 13 June 2006.                                                                

On 30 June 2006, the Bank paid the former minority shareholders of Pohjola Group
plc entitled to redemption EUR 13.35 per share in redemption price and interest 
of 2.5 per cent on this amount as of 13 June 2006. The remainder of the         
interest, that is, two cents per share, will be paid to those entitled to it    
through the appropriate account operator on or about 25 August 2010, at the     
latest.                                                                         

The previous stock exchange release on this subject was issued on 27 May 2010.  

Pohjola Bank plc                                                                

Carina Geber-Teir                                                               
Chief Communications Officer                                                    

FOR MORE INFORMATION, PLEASE CONTACT                                            
Carina Geber-Teir, Chief Communications Officer, tel. +358 (0)10 252 8394       
Jouko Pölönen, CFO, tel. +358 (0)10 252 3405                                    

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