Eik Banki P/F - Fyrirtækjafréttir

The Eik Banki Group Joins the Government-backed Deposit Guarantee Scheme

The Danish Government has issued a two-year guarantee for all deposits and
unsecured claims against Danish financial institutions. According to an
agreement with the banking sector, it will be managed and financed by “Det
Private Beredskab” (the Banking Sector Emergency Fund). 

Today, the Eik Banki Group's Board of Directors has decided to confirm its
membership of the Banking Sector Emergency Fund. Accordingly, Eik Banki Group
will contribute to and be covered by the new government-backed deposit
guarantee scheme, which will be operative for two years as from 6 October 2008. 

Eik Banki Group's share of the annual guarantee commission of DKK 7.5 billion
is expected to amount to approx DKK 60 million annually. To this should be
added a share of the total guarantee limit plus any increased guarantee
commission (cf. the terms of the agreement) which for the Eik Banki Group may
amount to approx DKK 80 million each. 

In 2008, Eik Banki Group's participation in the guarantee scheme is expected to
have a negative impact on the bank's pre-tax profit of approx DKK 15 million.
On the other hand, we expect a positive effect from the fact that the
initiative will increase the economic stability. 

At the same time, the Eik Banki Group has confirmed its membership of the
Banking Sector Emergency Fund, and in accordance with the intentions of the new
agreement, the decision has been made not to distribute dividend for the next
two years as well as to comply with the other conditions of the agreement. The
Eik Banki Group does not have and has not had share-option-based management
incentive schemes. 

Sincerely



Marner Jacobsen	     Finn Danberg
Group CEO	              Director, Group CFO

Attachments:

stock exchange announcement 17 2008.pdf