UAB FBD Sampo Bankas To Become NSEL Member

On 8 April 2002, financial brokerage division (FBD) of UAB Sampo Bankas will join as a new NSEL member. It will be the ninth bank to provide securities trading intermediary services at the NSEL (banks are allowed to provide all services of a public intermediary of public trading). The FBD will have a right to trade on the NSEL from 11 April 2002. The Management Board of the NSEL has passed such a decision on today.

Currently, 8 financial brokerage departments (divisions) of banks, 3 category A financial brokerages, and 10 category B financial brokerages have the right to trade on the NSEL.

By establishing a financial brokerage division, UAB Sampo Bankas strives to expand the range of services offered to clients. "Membership of the NSEL is the first step to establish our presence in the Lithuanian securities market. We believe that financial intermediation is a promising business, and these services are demanded by our clients. Following the bank's strategy, we will seek a long-standing co-operation with clients and will provide services distinguished by their flexibility and customised approach", - said Mr. Alius Jakubelis, Head of UAB Sampo Bankas FMD.

"We are happy to welcome another bank, which will provide a complete range of intermediary services. We hope that volumes at the NSEL will augment as the number of market participants grows," - stated Mr. Giedrius Bacevicius, Director of the NSEL Trading and Settlement Department.

UAB Sampo Bankas, member of SAMPO plc., one of the biggest financial group in Northern Europe, provides its services in Lithuania. The authorised capital of the bank stands at LTL 47.04 m (Euro 13.63 m). UAB Sampo Bankas was established at the end of 2000 following the acquisition of the Lithuanian Development Bank by SAMPO plc. Life and non-life insurance as well as leasing services are provided through specialised affiliated companies. UAB Sampo Bankas specialises in retail banking and is oriented towards private clients, small and medium businesses.

The NSEL holds trading in shares, bonds, and Government securities. Currently there are 50 companies listed at the NSEL, including 7 on the Official List and 43 on the Current List. On 5 April 2002, capitalisation of listed shares totalled LTL 5.08 billion (Euro 1.47m) and the NSEL share turnover for March stood at LTL 40.2m (Euro 11.65m). The dynamics of the securities market in Lithuania are reflected by the official NSEL indices LITIN-10, LITIN and LITIN-G.