The Supervisory Board of Eesti Pank elected the candidate for the position of Governor of Eesti Pank

At its meeting today, the Supervisory Board elected by majority vote Andres Lipstok the candidate for the position of Governor of Eesti Pank.

Both of the candidates for the position of Governor, Vahur Kraft and Andres Lipstok, had previously presented their positions on Estonia's monetary and banking policy, obtaining full membership in the European Economic and Monetary Union, and management of Eesti Pank, and answered questions from the members of the Supervisory Board.

The discussion was followed by a vote, which resulted in the decision that Chairman of the Supervisory Board of Eesti Pank, Mart Sõrg, would make a proposal to the President of the Republic to nominate Andres Lipstok Governor of Eesti Pank as of 7 June 2005 for a term of five years.

Tomorrow, on 11 May 2005, a press conference, where Mart Sõrg, Chairman of the Supervisory Board of Eesti Pank, and Andres Lipstok, the candidate for the position of Governor, answer journalists' questions, will be held at Eesti Pank.

Please register for the press conference by telephone 6680719 or e-mail silver.vohu@epbe.ee. Please do not forget your identity document or press card.