Okobank Osuuspank.

Upgrade of Ratings

Okobank Osuuspankkien Keskuspankki
13 October 2000


FITCH IBCA UPGRADES OKOBANK's RATINGS

Fitch IBCA has upgraded the long term rating of OKOBANK Osuupankkien
Keskuspankki Oyj from A to A+. The individual rating based on the Bank's
profit-generating ability was upgraded from B/C to B. The Agency says that the
action follows a steady improvement in the bank's performance in recent years.

In addition, Fitch IBCA says that the OKOBANK Group's asset quality has improved
dramatically since the mid 90's. Results for the first half of 2000 were very
good and the Group is well capitalised in terms of Tier I own funds. Fitch IBCA
also mentions the Group's innovative approach to Internet banking.

OKOBANK was last upgraded on October 3, 2000 when Moody's Investors Service
upgraded the long term rating of OKOBANK from A1 to Aa3. The financial strength
rating was upgraded from C to C+.