Negotiations between Glitnir and Byr Savings Bank in Iceland

The Nordic bank Glitnir has announced details of a possible merger with the Byr Savings Bank in Icleand.

Glitnir Bank and Byr Savings Bank announced today that they have initiated discussions on the possible merger of the two companies. This entails that the boards of both companies will not enter any dialogue with other parties while negotiations take place. The results of the negotiations will be made official as soon as they have been concluded.

Glitnir is a Nordic bank, with its head office in Iceland and operations in ten countries. Its home markets are Iceland and Norway where it offers a broad range of financial services; including corporate banking, investment banking, capital markets, investment management and retail banking. For more information, visit www.glitnirbank.com.

For further information on the merger deal currently under negotiation between Glitnir and Byr, press and industry professionals are requested to contact:

Bjorn Richard Johansen, Managing Director of Corporate Communication, Glitnir.Mobile +47-47 800 100, e-mail: brj@glitnir.no

Sigrun Hjartardottir, Head of Investor Relations, Glitnir.
Mobile + 354 844 4748, e-mail sigrun.hjartardottir@glitnir.is