Exista hf. - Company Announcement

Results of Placing of Shares in Sampo

Results of Placing of Shares in Sampo

Exista hf. announces the completion of a bookbuilding offering of 114,257,867
shares or its entire shareholding in Sampo Oyj, representing an aggregate of
19.98% of Sampo's share capital.  The shares were sold to a number of
institutional investors at a price of €11.50 per share. Exista will book a loss
of €1.4 billion in the fourth quarter due to the sale. The transaction will
lead to a €1.3 billion reduction in the group's total liabilities. Following
the transaction, Exista and its affiliates do not own any further shares in
Sampo. 

Citigroup Global Markets Limited and Morgan Stanley & Co. International plc
acted as joint global coordinators and joint bookrunners in the placing. 

Lydur Gudmundsson, Executive Chairman of Exista hf. comments:
“The successful sale of Exista's shares in Sampo significantly reduces our
total liabilities and manages our exposure to deteriorating financial markets.
We have no plans for further asset sales and believe our remaining portfolio of
quality assets leaves us well placed for growth once this period of
unprecedented market turbulence subsides.” 


Enquiries:
Exista hf. 
Group Communications
Sigurdur Nordal  
Managing Director
+354 550 8620