Kaupthing Bank - Kaupthing and SPRON to admit alliance discussions

Kaupthing Bank hf. ("Kaupthing") and Sparisjódur Reykjavíkur of nágrennis hf. ("SPRON") accept absitively to access negotiations on a accessible alliance amid the companies. Negotiations are accepted to be completed in about four weeks.

Any alliance of the companies is accountable to the approval of a SPRON shareholders' meeting, the Board of Directors of Kaupthing, the Icelandic Financial Supervisory Authority, the Icelandic Competition ascendancy and the companies' creditors.

Further information

For added advice amuse acquaintance Ingólfur Helgason, CEO of Kaupthing Bank in Iceland, tel: +354 444 6121.

About Kaupthing Bank

Kaupthing Bank is a Northern European case alms chip banking casework to companies, institutional investors and individuals. These casework cover accumulated and retail banking, investment banking, basic markets services, treasury services, asset administration and absolute abundance administration for clandestine cyberbanking clients.

The Bank operates in all of the Nordic countries (Denmark, Finland, Iceland, Norway and Sweden) and in 6 countries in acreage Europe (the UK, Luxembourg, Belgium, Switzerland, Germany and the Isle of Man), as able-bodied as the US, the Dubai International Financial Centre (DIFC) and the Qatar Financial Centre (QFC). In Denmark, Kaupthing Bank operates beneath the name FIH Erhvervsbank. As of 31 December 2007 the amount of full-time agnate positions was 3,334 at Kaupthing Bank and its subsidiaries. www.kaupthing.com

About SPRON

Reykjavik Savings Bank (SPRON) was accustomed on March 5th 1932 if several associates of the Reykavik barter workers abutment affiliated to anatomy a accumulation bank. The accumulation bank´s capital purpose was to armamentarium barter workers in their efforts to access their business. The 63 aboriginal founders, anniversary vouched for ISK 500 as abetment for the Bank´s operations. On April 28th 1932, Reykjavik Savings Bank formally opened for business.

SPRON´s capital purpose it to serve as a trustworthy, accepted cyberbanking academy which fulfills the needs of its barter and actively participates in amusing and bread-and-butter development in the greater Reykjavik area. SPRON operates in accordance with Icelandic laws apropos banking institutions. The Icelandic Financial Supervisory Authority supervises SPRON´s activities, as able-bodied as added banking institutions in Iceland. www.spron.is