Arbitrators appointed for the redemption of Pohjola minority shares

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| Source: Pohjola Pankki Oyj
Pohjola Bank plc
Stock exchange release
29 July 2014 at 5.00 pm

Arbitrators appointed for the redemption of Pohjola minority shares


Pohjola Bank plc ("Pohjola") today received the following information from OP-
Pohjola Group Central Cooperative.

The Redemption Committee of the Finland Chamber of Commerce has appointed an
Arbitral Tribunal consisting of three arbitrators to settle the disagreements
over the right of squeeze-out relating to Pohjola shares not held by OP-Pohjola
Group Central Cooperative and over the squeeze-out price. The Arbitral Tribunal
comprises attorney Pekka Puhakka (Chairman), attorney Petra Kiurunen and
attorney Matti Ylä-Mononen.

On 11 April 2014, OP-Pohjola Group Central Cooperative announced that it had
more than nine tenths (9/10) of all shares and votes in Pohjola and that it
would exercise its right under the Limited Liability Companies Act to buy out
the shares held by other Pohjola's shareholders. The squeeze-out price offered
by OP-Pohjola Group Central Cooperative is 16.13 euros, which equals the
consideration paid by OP-Pohjola Group Central Cooperative based on the public
voluntary bid announced on 6 February 2014.

OP-Pohjola Group Central Cooperative has 98.41% of Pohjola shares and 99.14% of
the votes conferred by shares.

Pohjola Bank plc
Carina Geber-Teir
Chief Communications Officer

DISTRIBUTION
NASDAQ OMX Helsinki
LSE London Stock Exchange
SIX Swiss Exchange
Major media
pohjola.com, op.fi

FOR MORE INFORMATION, PLEASE CONTACT:
Vesa Aho, CFO, tel. +358 (0)10 252 2336
Niina Pullinen, Senior Vice President, Investor Relations, tel. 010 252 4494

Pohjola is a Finnish financial services group that offers its customers banking,
non-life insurance and asset management services. Pohjola's mission is to
promote the prosperity, security and wellbeing of its customers. Key targets
include profitable growth and increasing the company's value. Pohjola Group
serves corporate customers in Finland and abroad by providing an extensive range
of financial, investment, cash management and non-life insurance services. For
private customers, the Group provides non-life insurance and private banking
services. Pohjola's consolidated earnings before tax amounted to 473 million
euros in 2013 and the balance sheet total amounted to EUR 44 billion on 31
December 2013. Pohjola is part of OP-Pohjola Group, the leading financial
services group in Finland with 4.3 million customers.

www.pohjola.com

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