Kaupthing Bank - Kaupthing Bank Luxembourg acquires Robeco Bank Belgium

Reykjavik, Iceland--October 21st 2007--Kaupthing Bank Luxembourg S.A., a accessory of Kaupthing Bank hf., has active an acceding by which Kaupthing Bank Luxembourg S.A. purchases Robeco Bank Belgium.

Robeco Bank Belgium is a baby Belgian case that was founded in 2002 and focuses mainly on clandestine cyberbanking and asset management. The case has 32 advisers and is based in Brussels and Antwerp. Robeco Bank Belgium has 6,800 clients. At the end of August 2007, the allotment of client's assets placed as deposits amounted to about EUR 300 million. This accretion will accept an bush aftereffect on Kaupthing Bank Luxembourg's operations.

Magnus Gudmundsson, Managing Director of Kaupthing Bank Luxembourg:
"Robeco Bank Belgium represents a acceptable cardinal fit for Kaupthing Bank Luxembourg. This accretion is a analytic footfall in architecture up Private Banking offerings in the Benelux countries. By demography over the activities of Robeco Bank we become anon operational in Belgium and will accept a belvedere there for added growth."

The transaction is accountable to the approval of the Luxembourgish and the Belgian Financial Supervisory Authorities. The accretion is accepted to be bankrupt afore year end.

For added advice amuse contact:
Jónas Sigurgeirsson, Chief Communications Officer, tel +354-444 6112

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

The Bank operates in twelve countries, including all the Nordic countries (Denmark, Faroe Islands, Finland, Iceland, Norway and Sweden), Luxembourg, Switzerland, the UK, the US, Dubai and Qatar.

Based on Kaupthing's bazaar capitalisation of EUR 9.9 billion as of 31 August 2007, the case is currently the seventh better case in the Nordic region. Through able amoebic advance and cardinal acquisitions, such as the accretion in Denmark of FIH Erhvervsbank in 2004 and the accretion of the UK-based case Singer & Friedlander in 2005, Kaupthing has auspiciously added both the artefact and geographic about-face of its operations. As of 30 June 2007 the case has 2,970 advisers and absolute assets of EUR 54.3 billion.

For added advice about Kaupthing Bank appointment the company's website: www.kaupthing.com