Okobank Osuuspank.

Launch of Debenture Issue

Okobank Osuuspankkien Keskuspankki
4 April 2000


OKOBANK GROUP LAUNCHES DEBENTURE ISSUE AND BOND ISSUE

OP Debenture Issue 2000 I will be launched on April 11, 2000.  The nominal
amount of the loan is EUR 50 million and the nominal interest rate is 5.00 per
cent.  The issue price is floating and the subscription period is from April 11,
2000 to August 11, 2000.  The maturity is 6 years.

Interest will be paid yearly on April 11 and the principal will be paid back in
its entirety on april 11, 2006.

Application will be made for listing of the bonds on the Helsinki Exchanges. 
The issuers include 24 OKOBANK Group member cooperative banks and OKOBANK
Osuuspankkien Keskuspankki Oyj whose share of the loan is EUR 27 650 000, or
55.30 per cent.

OP Bond Issue 2000 I will be launched on April 11, 2000.  The nominal value of
the loan is EUR 80 million and the nominal interest rate is 4.50 per cent.  The
issue price is floating and the subscription period is from April 11, 2000 to
August 11, 2000.  The maturity is 3 years.

Interest will be paid yearly on April 11 and the principal will be paid back in
its entirety on April 11, 2003.

Application will be made for listing of the bonds on the Helsinki Exchanges. 
The issuers include 20 OKOBANK Group member cooperative banks and OKOBANK
Osuuspankkien Keskuspankki Oyj whose share of the loan is EUR 43 480 000, or
54.35 per cent.

Both bonds will be issued in the book-entry system which is estimated to improve
their secondary market.  The manager of the issues is OKOBANK.  The subscription
agents are the member cooperative banks of the OKOBANK Group Central
Cooperative, Okopankki Oyj and OP-Kotipankki's telephone service 010-652- 52.