Skipti hf. - Company Announcement

Press release concerning shares in Skipti hf.

Kaupthing Bank announced on 19 March 2008 of its decision not to collect
payment for the subscriptions received in the Skipti hf. offering and to cancel
all subscriptions which remained unpaid after 4 p.m. on 26 March 2008. 

In total 104 subscriptions were cancelled, thereof 31 subscriptions on 26 March
2008. Accordingly, Kaupthing Bank holds 1,979,776,867 shares in Skipti hf.,
which represents 26.87% of Skipti hf.'s total share capital.