FIM Group - Company Announcement

RAIMO VALO APPOINTED TO HEAD UP GLITNIR'S RUSSIAN INVESTMENT MANAGEMENT

FIM Group Corporation STOCK EXCHANGE RELEASE June 11, 2007                     

RAIMO VALO APPOINTED TO HEAD UP GLITNIR'S RUSSIAN INVESTMENT MANAGEMENT         

Raimo Valo, LL.M. Master of Laws, has been appointed to head up Glitnir's       
investment and asset management operations in Russia effective as from August   
2007. Raimo Valo, Head of Investment Management Russia, will report to Jan      
Forsbom, Executive Vice President, Glitnir Investment Management.               

Raimo Valo will step into the position from his current post in Moscow as head  
of Svenska Handelsbanken's operations in Russia and the former CIS countries.   
Valo was involved in setting up the Moscow branch and served as its Managing    
Director as from 2004. Valo transferred to Moscow from a similar position in    
Poland. His previous tasks have included establishing and heading up emerging   
market units at Svenska Handelsbanken and Merita.                               

The FIM investment services group has been part of Icelandic financial group    
Glitnir since March 2007 and FIM's asset management operations are reported as  
part of Glitnir Investment Management as of April 1, 2007. FIM's subsidiary     
established to carry on asset management and mutual fund operations in Russia   
received an operating licence in August 2006. At the beginning of 2007, the     
FSFR, Russia's financial markets regulatory authority, approved the statutes of 
FIM's first local funds which are being launched during Q2 2007.                

Raimo Valo, Head of Investment Management Russia:                               
I am enthusiastically looking forward to building up Glintir's operations in    
Russia. FIM's products are a great fit for the growing markets of Russia, and   
this is an excellent time to start up mutual fund operations. Our goal is to    
harness the existing infrastructure to forge an efficient sales network for     
Russia.                                                                         

Jan Forsbom, EVP, Glitnir Investment Management:                                
The Russian middle class is rapidly becoming more affluent. We seek to benefit  
from this growth in Glitnir's Investment Management. We are presently starting  
up local funds and we believe that demand for our investment management services
will see vigorous growth in Russia in the years ahead. Raimo Valo has strong    
local experience and market knowledge. We are very satisfied to have him on     
board to bolster our expertise in investment services.                          

FIM Group Corporation                                                           

Risto Perttunen                                                                 
CEO                                                                             


For additional information, contact:                                            

Raimo Valo, Head of Investment Management Russia                                
mobile +79 16 5095114                                                           

Jan Forsbom, Executive Vice President, Glitnir Investment Management            
mobile +358 50 531 9292                                                         

Risto Perttunen, CEO, FIM Group Corporation                                     
Tel. +358 9 6134 6303                                                           

Bjorn Richard Johansen, Managing Director, Corporate Communications, Glitnir    
banki hf.                                                                       
Tel: +47 2282 5693                                                              
bjr@glitnir.no                                                                  

Distribution:                                                                   
Helsinki Stock Exchange                                                         
Principal media                                                                 
www.fim.com                                                                     

FIM is a growing investment services group that offers asset management,        
brokerage and investment banking services for private individuals and           
organizations. Since March 2007 FIM is part of the Icelandic financial group    
Glitnir (www.glitnirbank.com). In addition to the head office in Helsinki, FIM  
has regional offices in Espoo, Jyväskylä, Kuopio, Lahti, Oulu, Riihimäki,       
Tampere, Turku and Vaasa. FIM also operates in Stockholm and Moscow. The company
had net
sales in 2006 of EUR 82.0 million, and it posted operating profit of EUR
19.1
million. FIM had a payroll of 284 employees at the end of 2006. www.fim.com

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