SUBSCRIPTION OF BANK OF ÅLAND PLC´s SHAR

0719BANK OF ÅLAND PLC STOCK EXCHANGE ANNOUNCEMENT 3 December 2002 at 4.00 pm SUBSCRIPTION OF BANK OF ÅLAND PLC´s SHARES WITH WARRANTS ISSUED IN 1998 Bank of Åland Plc´s Annual General Meeting decided in 1998 to issue warrants to its personnel. A total of 100 Bank of Åland Plc B-shares have been subscribed for with warrants issued in 1998, series I, during 1 November-30 November 2002. The corresponding increase in the share capital is EUR 202,00. Separate announcements will be given when the increase in share capital has been entered into the Trade Register and trading with these shares together with Bank of Åland Plc´s existing listed B- shares begins.