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Merger between Sampo and Leonia into force

The main content of the amendments to the Articles of Association is as follows:

- Sampo's name will be Sampo-Leonia Insurance Company plc;
- The sphere of operations will be specified in such a manner that in addition to the company's right to own insurance companies it will be expressly stated that it can own, among other things, companies pursuing the activities of a credit institution;
- The company will renounce the Supervisory Board and the General Meeting of Shareholders will appoint the Board of Directors annually;
- The Board of Directors will consist of no less than three and no more than ten members;
- The restriction on voting relating to the General Meeting of Shareholders will be eliminated from the Articles of Association. The voting restriction will, however, remain valid by virtue of the Finnish Insurance Companies Act as long as Sampo-Leonia is an insurance company;
- Class B shares may be converted to class A shares;
- A shareholder whose holding of the company's all shares or of all votes relating to the shares reaches or exceeds 33 1/3 per cent or 50 per cent is obliged to redeem the shares of other shareholders.

The amendments to the Articles of Association have been published in their entirety as an appendix to the stock exchange bulletin of February 2, 2000.

The increase in the share capital, which entered into force at the turn of the year, is related to the merger consideration paid to the Finnish Government, the owner of Leonia plc. The government will receive 44,720,000 new Sampo-Leonia A shares as consideration. The shares will be traded on the Main List of the Helsinki Exchanges in the Banks and Finance business sector as of today, January 2, 2001. The share's trading symbol will remain unchanged. The new share capital of Sampo-Leonia is FIM 520 million and the number of shares 104,000,000. The terms and conditions of the increase in the share capital have been

published in their entirety as an appendix to the stock exchange bulletin of February 2, 2000.

The merger of Leonia Corporate Bank plc with Leonia Bank plc and the merger of Leonia Life Insurance Company Ltd with Sampo Life Insurance Company Ltd entered also into force in the Sampo Group on December 31, 2000, when the implementation of both mergers were entered in the Trade Register.


Pertti Nurvala
Vice President, Information

Taru Narvanmaa, Vice President, Investor Relations, mobile +358 50 590 9398

Helsinki Exchanges
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