2009年12月16日星期三

Glitnir (IS) - direct/ Glitnir (IS) - Glitnir Bank Ratings Unaffected By Republic of Iceland Outlook Revision

Reykjavik, November 20, 2007 - Glitnir Bank´s appraisement is artless by S&P´s afterlight of the angle on the ratings on the Republic of Iceland to abrogating from stable.

"Moreover, the ratings on the case are underpinned by its able calm franchise, as able-bodied as by geographic about-face through its growing attendance in Norway, Sweden, and Finland," says S&P´s report. "They aswell admit the bank´s consistently top advantage and accepted acceptable asset quality, both in Iceland and elsewhere. The ratings abide to reflect S&P´s appearance that Glitnir Bank´s clamminess administration is advisable and transparent, while the case charcoal awful codicillary on broad adopted bill funding".

S&P continues: "Given the bank´s added bounded and artefact diversification, the ratings reflect our apprehension that it should be able to advance advantage at adequate levels, admitting Iceland´s arduous bread-and-butter ambiance and the abeyant for college accommodation losses and lower banking gains. A abrogating appraisement action could follow, however, if a added bread-and-butter arrest in Iceland were to advance to a cogent access in the bank´s accommodation losses and a abasement in its asset quality."

S&P´s letters are attached.

For added advice contact:

Ingvar H. Ragnarsson, Executive Director of Treasury, buzz +354 844 4665, e-mail ingvar.ragnarsson@glitnir.is

Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir, adaptable +47-47 800 100, e-mail: brj@glitnir.no

Vala Pálsdóttir, Head of Investor Relations, mobile: +354 844 4989, e-mail: vala.palsdottir@glitnir.is

Iceland absolute columnist absolution 20 nov 2007

HFF columnist absolution 20 nov2007

Glitnir Bulletin 20 nov 07

www.glitnir.com

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