Glitnir banki hf. - Company Announcement

Glitnir banki hf. sells USA operations

Glitnir banki hf.  has  sold the bank's operation  in New York,  USA.
The buyers are four  former employees of the  office. After the  sale
Glitnir banki hf. no  longer holds any  obligations regarding the  US
operation. No substantial assets, such as loan portfolios, were  sold
along with the operation.

Further information:
Páll Eiríksson,  general  counsel  to  the  Resolution  Committee  of
Glitnir banki hf., e-mail pall.eiriksson@glitnirbank.com, phone  +354
440 2710

Attachments:

251108 Glitnir sells USA operations.doc