Eesti Bank Joins the Central Bank Gold Agreement

In the interest of clarifying its intentions with respect to its gold holdings, Eesti Pank, the central banl of Estonia has announced that it agrees with and becomes a party to the joint statement of 7 August 2009 that has been signed by the European Central Bank, Nationale Bank van België/Banque Nationale de Belgique, Banka Slovenije, Deutsche Bundesbank Central Bank of Ireland, Bank of Greece, Banco de España, Banque de France, Banca d’Italia, Central Bank of Cyprus, Banque centrale du Luxembourg, Central Bank of Malta, De Nederlandsche Bank, Oesterreichische Nationalbank, Banco de Portugal, Banka Slovenije, Národná banka Slovenska, Suomen Pankki, Sveriges Riksbank, and Schweizerische Nationalbank.

In this respect Eesti Pank makes the following statement:

Eesti Pank will adhere to the Central Bank Gold Agreement dated 7 August 2009. The maximum annual sales, as well as the total sales, both as specified in the original agreement of 7 August 2009 by the signatories to the Central Bank Gold Agreement, will remain unchanged over the period of the Agreement.

Estonia adopted the euro as its currency at the start of 2011. At the end of 2007, Esti Pank held 8.3 million ounces of gold.