Glitnir (IS) - direct/ Glitnir (IS) - Glitnir Bank 9 Months Results for 2007

ISK 25.2 billion (EUR 288 m) accumulation afterwards tax
24.1% Return on disinterestedness

Financial Highlights
- Net assets added by 56% year-on-year and were college than anytime before
- Pre-tax accumulation in Q3 was ISK 10.4 billion, up by 0.3% from Q3 2006
- Net absorption assets in Q3 was ISK 9.6 billion, up by 3% from Q3 06
- Fees and commissions added by 119% in Q3 and amounted to ISK 10.9 billion
- 46% of pre-tax accumulation was generated alfresco Iceland in the aboriginal 9 months
- Earnings per allotment for Q3 amounted to ISK 0.55, as compared to ISK 0.62 in Q3 06
- Total assets amounted to ISK 2,766 billion, up from ISK 2,246 at the alpha of 2007
- Assets beneath administration added by 10% over the division to ISK 1,003 billion
- Strong assets with CAD arrangement at 11.7%, and Tier 1 arrangement at 8.5%

Operational Highlights
- Balanced and controlled accommodation advance of ISK 190 billion over the year
- Launch of deposits in Finland, EUR 290 actor in aboriginal 30 days
- Glitnir ranked #1 in aggregate in disinterestedness allowance in the Nordic arena for the aboriginal time in September
- Active division in agreement of advisory
- Successful branding of Glitnir in Finland
- 50% of Investment Banking pre-tax accumulation was contributed by activities in Glitnir´ threes niches

Lárus Welding, Chief Executive Officer says: "The division shows absolute development for the Bank and I am actual admiring that we are presenting the accomplished net operating assets anytime for the Bank," says Lárus Welding, Glitnir CEO. "We are befitting our drive in fees, admitting agitated banking markets, with able activities in Investment Banking and Markets, which contributed 2.2 billion and 2 billion in pre-tax accumulation respectively. The accommodation book grew by 145 billion in the additional bisected of the division afterwards actual bound advance in the aboriginal 8 months of the year. In turn, this should aftereffect in college net absorption assets in the advancing quarters. The net absorption allowance is below expectations, but we apprehend the allowance convalescent in the months to come. We accept added 600 new advisers to the Group over the accomplished 12 months, of which 300 accustomed with the accretion of FIM beforehand this year. This has resulted in a college amount than anticipated. The cost/income arrangement charcoal top but bigger over the division down 49%. On October 1st we auspiciously launched our retail deposits operation in Finland and in its aboriginal ages of operations we accept accustomed over EUR 290 actor in deposits, which exceeded our expectations. Going forward, we will abide to focus on growing our net absorption assets and abide the acknowledged trends in fee generation. We accept formed harder on adjustment our humans and businesses, we accept a bright action and we are able-bodied positioned to abound still further, says Lárus Welding.

For added advice amuse contact:

Lárus Welding
CEO
Tel: +354 440 4005

Alexander K. Guðmundsson
CFO
Tel: +354 440 4656

Bjørn Richard Johansen
MD Corporate Communication
Tel: + 47 47 800 100
brj@glitnir.no

Head of Investor Relations
Vala Pálsdóttir
Tel: +354 440 4989
vp@glitnir.is

Glitnir Bank nine months after-effects 2007
hugin.info/133924/R/1164174/227140.pdf

Glitnir Consolidated accounts Q3 2007
hugin.info/133924/R/1164174/227142.pdf

www.glitnir.com

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