Market Information

The Bank's share capital consists of one class of shares (A-shares), which are listed on the Tallinn Stock Exchange. As of 30th June, 1997, 16,500,000 ordinary shares were in issue. Trading in the Shares on the Tallinn Stock Exchange commenced on 3rd June, 1996. Prior to that date, the Shares were actively traded on the OTC-market. During the first six months of 1997, the volume of transactions with Hoiupank shares accounted for 20% of the total aggregate volume of the Tallinn Stock Exchange. Total turnover of the exchange amounted to about EEK 7 billion. As at 30th September 1997 Hoiupank accounted for 17.35% of the total aggregate market capitalisation of the companies listed on the Tallinn Stock Exchange. Since the beginning of 1997 until 30th September, 1997 the highest closing price was EEK 310.00 (19th September, 1997) and the lowest closing price was EEK 75.00 (2nd January, 1997). Average daily trading volume for the Shares during that period was EEK 17.3 million. The closing price for the Share on TALSE on 30th September, 1997 was EEK 253.50.

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