Sparisjóður Mýrasýslu - Company Announcement

- Creditors meeting

On April 27th 2009 Sparisjodur Myrarsyslu, Reg. No. 610269-5409, Digranesgata
in Borgarnes, was granted an authorisation for a moratorium process by the West
Iceland District Court. Sigurdur Arnalds, Supreme Court attorney, has assumed
the role of assistant of the debtor during the moratorium. The moratorium has
been granted until 3 pm Icelandic time on 18th May 2009, when the case will be
resumed in the court`s courtroom at Bjarnarbraut 8, Borgarnes. 

In accordance with Article 13 of Act No. 21/1991 on bankruptcy etc. and Article
98 of Act No. 161/2002 on financial undertakings, meeting with the creditor`s
of Sparisjodur Myrarsyslu will be held at 10 am Icelandic time on Wednesday May
13th, 2009, at Hotel Borgarnes, Egilsgata 16, Borgarnes, Iceland. At that
meeting the moratorium assistant will inform the attendees of proposed measures
regarding the bank`s financial difficulties. 

For further information please contact the bank`s moratorium assistant, Supreme
Court attorney Sigurdur Arnalds, tel. no. +354-8993320 or +354-4333000, e-mail
sarnalds@bifrost.is.