OKO Pankki Oyj - Company Announcement

Redemption price of Pohjola minority shares set at EUR 14.35 per share

The Arbitral Tribunal appointed by the Central Chamber of Commerce decided on 2 
May 2007 to set the redemption price of the shares in Pohjola Group plc         
(Pohjola), a subsidiary of OKO Bank plc, at EUR 14.35 per share. The Tribunal   
confirmed the annual interest payable on the redemption price from 13 June to 30
June 2006 at 5.5% and from 1 July 2006 at 6.0%. The redemption price set by the 
Tribunal is EUR 1.00 higher than the redemption price of EUR 13.35 per share    
offered by OKO Bank.                                                            

On 29 June 2006, OKO Bank paid the former minority shareholders of Pohjola      
entitled to redemption (15 215 137 shares) EUR 13.35 per share in redemption    
price and, on this amount, an interest of 2.50% as of 13 June 2006.             

The remainder of the redemption price and interest will be paid to those        
entitled to it no later than within a month from the effective date of the      
arbitral award. OKO Bank will consider separately the option of submitting the  
validity of the arbitral award to the district court. The Finnish Companies Act 
provides that action must be brought within two months from the date when the   
interested party received a copy of the arbitral award.                         

According to preliminary estimates, the arbitral award will not have any major  
impact on the 2007 consolidated earnings or shareholders' equity of OKO Bank.   
According to preliminary estimates, the arbitral award will decrease OKO Bank's 
Tier 1 capital adequacy, as specified in the Act on Credit Institutions, by     
about 0.13 percentage points.                                                   

OKO Bank plc                                                                    


Markku Koponen                                                                  
Senior Vice President                                                           

DISTRIBUTION                                                                    
Helsinki Stock Exchange                                                         
Principal media                                                                 
www.oko.fi
                                                                      
FOR MORE INFORMATION, please contact                                            
President and CEO Mikael Silvennoinen, tel. +358 10 252 2549                    
CFO Ilkka Salonen, tel. +358 10 252 3146                                        
Senior Vice President (Corporate Communications) Markku Koponen,                
tel. +358 10 252 2648