OP-Pohjola Group Central Cooperative and financial instrument issuer Pohjola adopt Group-level Communications and Disclosure Policy

Pohjola Bank plc
OP-Pohjola Group Central Cooperative
Stock Exchange Release
18 December 2014

OP-Pohjola Group Central Cooperative and financial instrument issuer Pohjola adopt Group-level Communications and Disclosure Policy

OP-Pohjola Group Central Cooperative's Executive Board and Pohjola Bank plc's ("Pohjola") Board of Directors approved on 16 December 2014 OP-Pohjola Group's Group-level Communications and Disclosure Policy. This replaces the Disclosure Policy issued by Pohjola on 17 December 2013. The Communications and Disclosure Policy will be applied to financial instrument issuers Pohjola and OP Mortgage Bank ("OPA") that are part of the Group and to the communication principles and methods of OP-Pohjola Group. OPA's Board of Directors also approved the Policy on 18 December 2014.

This change in the Communications and Disclosure Policy is related to OP-Pohjola Group Central Cooperative's the public voluntary bid for Pohjola shares, the delisting of Pohjola's series A shares from Helsinki Stock Exchange on 30 September 2014, and the reform of OP-Pohjola Group's management system and organisation.

In the Group-level Communications and Disclosure Policy, bond issuers Pohjola and OPA and the parent institution OP-Pohjola Group Central Cooperative comply with Finnish legislation, the rules of NASDAQ OMX Helsinki and, when applicable, other stock exchanges, and the regulations and instructions issued by the Finnish Financial Supervisory Authority. In addition to the above, OP-Pohjola Group's communication takes into account Corporate Governance Recommendations and the Code of Business Ethics.

The Group-level Communications and Disclosure Policy also covers the Communications and Disclosure Policy of financial instrument issuers Pohjola and OPA.

The purpose of OP-Pohjola Group's Communications and Disclosure Policy is to ensure that all market participants have sufficient and accurate information concerning OP-Pohjola Group's decisions and any matter that may materially affect the value of securities issued by Pohjola and OPA. OP-Pohjola Group will decide upon disclosure of information on the basis of whether a decision or matter will affect the issuer's repayment capacity. Information with regard to securities issued by Pohjola and OP Mortgage Bank is decided upon on a case-by-case basis with the issuer. Responsibility for the issuer's disclosure obligation is held by each issuer.