OKO Bank Plc - Merger Update.

(From AFX CNF)

RNS Number:7714H OKO Bank PLC 17 August 2006 OKO Bank plc STOCK EXCHANGE RELEASE 1 (2) 17 August 2006, 9.00 Pohjola Group plc to merge with OKO Bank plc by the end of 2006 The Boards of Directors of OKO Bank plc (OKO Bank) and Pohjola Group plc (Pohjola) have approved a plan under which Pohjola, a fully-owned subsidiary of OKO Bank will merge with its parent company by the end of 2006. The merger aims at streamlining the corporate structure of the OKO Bank Group, to increase the efficiency of business and to decrease administrative costs. Since the merger is a subsidiary merger, no merger consideration will be paid. The merger is planned to take effect …