Kaupthing Bank Sells Its Right To New Shares In Exista

Kaupthing Bank Kaupthing Bank hf. ("the Bank") has sold to Bakkabraedur Holding B.V. its right to nearly all new shares in Exista hf. ("Exista"), which the Bank was to receive for its shares in Skipti hf., according to Exista's takeover bid which the Bank accepted on 31 March 2008. The purchase price was decided in accordance with the closing price of Exista yesterday, 29 May 2008, which was ISK 10.12 per share.

The Bank was entitled to 1,301,769,147 new shares, which represents 9.18% of the total share capital of Exista, taking into account the company's intended share increase. The Bank has now accepted Bakkabraedur Holding B.V.'s offer to buy the Bank's right to 1,271,961,953 new shares (8.97%) which means that Bakkabraedur Holding B.V.'s ownership in Exista will remain unchanged after the issue of new shares in Exista in relation to the takeover of Skipti hf.

Further information: Jónas Sigurgeirsson - Chief Communications Officer, +354 444-6112 or at ir@kaupthing.com



About Kaupthing Bank Kaupthing Bank is a Northern European bank offering integrated financial services to companies, institutional investors and individuals. These services include corporate and retail banking, investment banking, capital markets services, treasury services, asset management and comprehensive wealth management for private banking clients.

The Bank operates in all of the Nordic countries (Denmark, Finland, Iceland, Norway and Sweden) and in 6 countries in mainland Europe (the UK, Luxembourg, Belgium, Switzerland, Germany and the Isle of Man), as well as the US, the Dubai International Financial Centre (DIFC) and the Qatar Financial Centre (QFC). In Denmark, Kaupthing Bank operates under the name FIH Erhvervsbank. As of 31 March 2008 the number of full-time equivalent positions was 3,324 at Kaupthing Bank and its subsidiaries. www.kaupthing.com

Kaupthing Bank

http://www.kaupthing.com

ISIN: IS0000001469

Stock Identifier: XOME.KAUP