Íslandsbanki's Corporate Finance division has received 12 indicativeoffers for the share capital of Sjóvá Almennar tryggingar hf. Most ofthe offers are made for the company's entire share capital.

A new Board of Directors has been appointed for Íslandsbanki.

Íslandsbanki's Corporate Finance ("ÍSBCorporate Finance") has been mandated to manage a formal process for thepotential sale of Sjóvá-Almennar tryggingar.

The Financial Supervisory Authority(FME) has granted ISB Holding ehf. permission to own a qualifying holding inÍslandsbanki on behalf of Glitnir Bank hf.

Profit after tax ISK 8.1 bn, estimated income tax due for theperiod ISK 1.37 bn million.

Profit after tax ISK 2.366 bn, estimated incometax due for the period ISK 364 million.

On the 11^th ofNovember, the On-line edition of the New York Times published an article onIslandsbanki´s Geothermal Energy Report.

Glitnir's Resolution Committee has, on behalf of its creditors,decided to exercise the option provided for in its agreement with the Icelandicstate and take over 95% of share capital in Íslandsbanki.

In continuation of its research activities in geothermal energy globally, Islandsbanki (formerly Glitnir) is issuing its third annual U.S. Geothermal Energy Market Report.

Following the conclusion of agreements between Íslandsbanki, Glitnir's Resolution Committee on behalf of creditors, and the Icelandic state, Íslandsbanki has decided to publish its opening balance sheet, dated 15 October 2008.