OKO Pankki Oyj - Company Announcement

OKO Bank Plc Settles Dispute over Pohjola Share Redemption Price with Several Significant Minority Shareholders

OKO Bank Plc and several former Pohjola Group plc's (Pohjola) minority          
shareholders (eg Uccellone Enhancement Fund Ky, Juha Mikkonen and Peter         
Fagernäs) have agreed that the arbitral award issued by the Arbitral Tribunal on
2 May 2007, regarding the redemption price of Pohjola shares, will remain final 
between the parties involved and that the parties will not present claims       
against one another in the district court. This agreement applies to an         
approximate total of 62.4% of all of the disputed Pohjola shares held by        
minority shareholders.                                                          

The pre-share redemption price of EUR 14.35, based on the Tribunal's decision,  
is one (1) euro higher than the EUR 13.35 previously bid by OKO Bank.           

Certain other minority shareholders have notified OKO Bank of their intention of
appealing the arbitral award. For this reason, OKO Bank has also decided to     
appeal the arbitral award, in respect of matters other than agreed, and demand  
that the district court confirm the per-share redemption price at EUR 13.35.    

Owing to the appeal, OKO Bank will pay the amounts of the arbitral award, plus  
interest, only to minority shareholders who will notify OKO Bank of accepting   
the arbitral award. By 13 July 2007, OKO Bank will separately notify every      
minority shareholder in writing of the related procedure.                       
                                                                                
OKO Bank plc                                                                    


Markku Koponen                                                                  
Senior Vice President                                                           

DISTRIBUTION                                                                    
Helsinki Stock Exchange                                                         
Major media                                                                     
www.oko.fi                                                                      
FOR MORE INFORMATION, please contact                                            
Mr Mikael Silvennoinen, President and CEO, tel. +358 10 252 2549                
Mr Timo Ritakallio, Deputy CEO, tel. +358 10 252 4322