Glitnir banki hf. - Company Announcement

Glitnir Luxembourg S.A. taken into Administration

Reykjavik 9 October 2008

The Board of Directors of Glitnir Luxembourg S.A., the wholly owned
subsidiary of Glitnir Banki hf., has yesterday asked that the bank
be taken into Administration. The bank's operations have been halted
and an Administrator appointed.

Further information
Glitnir Luxembourg S.A. Tel.: +352 266 8641