Icebank - Company Announcement

- Changes in management at Icebank

Sigurdur Smári Gylfason has been appointed Managing Director of Icebank's
Corporate Finance. Sigurdur Smári has been CEO of Behrens Corporate Finance ehf
since 2003; Behrens was acquired by Icebank earlier this year. He managed the
Icelandic Software Fund from 1997 to 2003 and worked for four years at the
holding company Eignarhaldsfélag Althýdubankans. Sigurdur Smári holds a degree
in business economics from the University of Iceland. 

A mutual agreement has been reached with Gunnar Svavarsson, head of Icebank's
Corporate Finance, and Hafdís Karlsdóttir, head of Icebank's Operations, who
will step down from their respective posts at Bank. The heads of department of
Operations will report directly to Icebank CEO Agnar Hansson. 

Icebank is grateful to Hafdís and Gunnar for their good work in the interests
of the Bank and wishes them success in their new careers. 


For further information, please contact:
Agnar Hansson, Icebank CEO, tel. +354 840 4140.