District Court of Reykjavik ruled in favour of Glitnir’s request for an extension to the Moratorium order

On 19 February 2009 the District Court of Reykjavik ruled in favour of Glitnir’s request for an extension to the Moratorium order originally granted on 24 November 2008. The extension period is to end on 13 November 2009.

For the avoidance of doubt, New Glitnir banki hf, which assumed the domestic Icelandic operations of Glitnir on 14 October 2008, is completely unaffected by the Moratorium and will continue to provide a full service to its clients in Iceland.

For and on behalf of
The Resolution Committee of Glitnir hf.