SPRON hf. - Company Announcement

The Financial Supervisory Authority assumes the powers of SPRON‘s shareholders meeting and SPRON shares delisted

On the 21st of March the Financial Supervisory Authority 'FSA' decided to
assume the powers of the Reykjavik Savings Bank‘s shareholders meeting and the
Board of Directors were dismissed immediately. The FSA has appointed a
Resolution Committee which shall take over the authority of the Board of
Directors of SPRON, including oversight of all management of SPRON's assets.
Furthermore,the FSA has made a decision on the disposal of assets and
liabilities of SPRON. New Kaupthing Bank hf. will take over the bank's
obligations according to the decision. 

The following individuals have been appointed to the Resolution Committee:
Hlynur Jónsson, solicitor, Chairman
Davíd Arnar Einarsson, certified public accountant
Feldís Lilja Óskarsdóttir, solicitor
Gudrún Torfhildur Gísladóttir, certified public accountant
Jóhann Pétursson, solicitor.

Gudmundur Hauksson the CEO of the Reykjavik Savings Bank has resigned and
Ólafur Haraldsson has assumed his duties by the appointment of the resolution
committee. 

The resolution committee requested that SPRON‘s shares be delisted from NASDAQ
OMX Iceland hf. which has approved the request and the shares were delisted on
the 23rd of March 2009.