*BANK OF ÅLAND PLC: SHARES SUBSCRIBED WITH CONVERTIBLE BOND

EXCHANGE NOTICE 449/2004, 16 November 2004 SHARES BANK OF ÅLAND PLC: SHARES SUBSCRIBED WITH CONVERTIBLE BOND A total of 21 423 B shares have been subscribed with the Bank of Åland Plc`s convertible bond issued in 1997. The B shares will be traded on the Helsinki Stock Exchange together with the old shares as of 17 November 2004. Identifiers of Bank of Åland Plc`s B share: Trading code: ALBBV ISIN code: FI0009001127 Orderbook id: 24230 Number of shares: 5 800 878 HELSINKI STOCK EXCHANGE Janne Seppänen Vice President Surveillance Finland