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Merita Bank Ld (57HN)

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Tuesday 26 October, 1999

Merita Bank Ld

Nordic Solution Possible for Christiania Bank

NORDBANKEN HOLDINGS AB
MERITA BANK LD
25 October 1999

NORDIC SOLUTION POSSIBLE FOR CHRISTIANIA BANK

With reference to the reply given by the Norwegian Government Bank Investment
Fund (Bankinvesteringsfonden) to MeritaNordbanken's offer to shareholders of 
Christiania Bank og Kreditkasse, the MeritaNordbanken Group notes that at this
stage Bankinvesteringsfonden has to base its reply on the principles for state
ownership in banks established earlier by the Norwegian Parliament, Stortinget.
Against this background, the content of the reply is not surprising.

MeritaNordbanken further notes, however, that the formulation of the said
principles is part of a new White Paper concerning state ownership in banks
(Kreditmelding) drafted by the Norwegian government for presentation to
Stortinget.  The Board of Directors of Christiania Bank has recommended that the
Norwegian state, as a shareholder, should accept MeritaNordbanken's Offer, which
is deemed to be of benefit to customers and employees and fair for shareholders.
The MeritalNodbanken Group believes that the proposed Nordic solution will prove
possible for Christiania Bank.

                                                                                                             

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