Pohjola Pankki Oyj - Company Announcement

Notification to Pohjola Bank plc's shareholders about merger of subsidiary

Pohjola Bank plc	Company Release      17 June 2008 at 9.00 am Finnish time    
(GMT+3)                                                                         
 	      Release category: Stock Exchange Release                                



Notification to Pohjola Bank plc's shareholders about merger of subsidiary      

Pohjola Bank plc (business ID 0199920-7) and its wholly owned subsidiary Pohjola
Finance Oy (business ID 0115483-7, formerly K-Finance Ltd) signed on 18 March   
2008 a plan for Pohjola Finance Oy to merge with the parent company Pohjola Bank
plc. The merger plan was entered in the Trade Register on 24 April 2008.        

Under the merger plan, Pohjola Finance Oy's assets and liabilities will be      
transferred without liquidation to Pohjola Bank plc, the parent company. No     
consideration will be paid for the merger, because the parent company owns all  
the shares of the company to be merged. Pohjola Bank plc's Articles of          
Association will not be affected. This merger is aimed at simplifying the       
Group's corporate structure, streamlining operations and reducing administrative
costs. The implementation of the merger is planned to take place on the         
registration date on 30 September 2008.                                         

The merger plan with attachments and the documents referred to in Chapter 16,   
Section 11 of the Limited Liability Companies Act (624/2006) will be kept       
available as of today at Pohjola Bank plc's Legal Affairs unit at Teollisuuskatu
1 b, Helsinki. Copies of the documents will be sent upon request to             
shareholders: contact Heidi Kivenjuuri either by phone at +358 (0)10 252 2357 or
email her at heidi.kivenjuuri@ pohjola.fi.                                      

If Pohjola Bank plc's shareholders with a total of at least five (5) per cent of
the shares demand in writing within a month of this notification that the merger
should be decided by a general meeting, an extraordinary meeting will be        
summoned as required by the Limited Liability Companies Act and the Articles of 
Association. Such a demand must be delivered in writing to Pohjola Bank plc     
addressed as follows: Pohjola Bank plc, Board of Directors, Senior Vice         
President Markku Koponen, P. O. Box 308, FI-00013 Pohjola.                      

Helsinki, 17 June 2008                                                          


Pohjola Bank plc                                                                
Board of Directors                                                              

Signed for by                                                                   
Mikael Silvennoinen                                                             
President and CEO                                                               



FOR ADDITIONAL INFORMATION, CONTACT:                                            
Senior Vice President Markku Koponen (Communications), tel. +358 (0)10 252 2648 


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