Pohjola Pankki Oyj - Company Announcement

Redemption Price of Pohjola Group plc Shares Held by Minority Shareholders Unchanged by the Court of Appeal

Pohjola Bank plc                                                                
COMPANY RELEASE                                                                 
27 May 2010, 9.30 am Finnish time (GMT+3)                                       

Redemption Price of Pohjola Group plc Shares Held by Minority Shareholders      
Unchanged by the Court of Appeal                                                

The Court of Appeal of Helsinki today issued its ruling in the redemption       
dispute between Pohjola Bank plc (hereinafter the Bank) and Pohjola Group plc's 
former minority shareholders. The Court of Appeal did not amend the ruling      
issued by the Helsinki District Court in August 2008, whereby the redemption    
price of one Pohjola Group plc share is EUR 13.35. The Court of Appeal confirmed
the annual interest payable on the redemption price as from 13 June 2006 at 5.5%

The legal process began in 2006 when the dispute was submitted to an Arbitral   
Tribunal after the Bank had acquired over 90% of Pohjola Group plc shares.      
Subsequently, the dispute was submitted to the district court and the court of  
appeal. The redemption price confirmed by the Court of Appeal is the same as    
that initially bid by the Bank for Pohjola Group plc shares held by minority    
shareholders. At this point, the Court of Appeal's ruling applies to around 2%  
of Pohjola Group plc shares (about 3.05 million shares).    

On 29 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 2.50% on this amount as of 13 June 2006. The remainder of the interest will  
be paid to those entitled to it no later than within a month from the effective 
date of the Court of Appeal's ruling. The judgement will gain legal force unless
any of those concerned files a petition for leave to appeal with the Supreme    
Court.                                                                          

The Court of Appeal ruling will have no major effect on Pohjola Group's 2010    
earnings or shareholders' equity.                                               

Previous releases on the dispute are dated 4 November 2008, 22 August 2008, 16  
August 2007, 29 June 2007 and 2 May 2007.                                       

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

FOR FURTHER INFORMATION, PLEASE CONTACT                                         
Carina Geber-Teir, Senior Vice President, Corporate Communications, 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