*SHARES SUBSCRIBED WITH CONVERTIBLE BOND

0678HEX HELSINKI SECURITIES EXCHANGE RELEASE 203/2003 SHARES 13 August 2003 SHARES SUBSCRIBED WITH CONVERTIBLE BOND AND OPTION RIGHTS: BANK OF ÅLAND PLC A total of 775 132 B shares have been subscribed with the Bank of Åland Plc`s convertible bond issued in 1997 and option rights 1998. The B shares will be traded on the Helsinki Exchanges as old shares as of 14 August 2003. Identifiers of Bank of Åland Plc`s B share as of 14 August 2003: Trading code: ALBBV ISIN code: FI0009001127 Number of shares: 5 762 411 HELSINKI EXCHANGES Pekka Peiponen 0