Glitnir banki hf. - Notice to convene extr.general meeting

Notice of Shareholders' Meeting in Glitnir bank hf.

Reykjavik, Iceland 3 October 2008

In accordance  with  Article 7  in  the Articles  of  Association  of
Glitnir bank hf. a  shareholders' meeting is  hereby called in.   The
shareholders' meeting will  be held  at Háskólabíó,  stóri salur,  on
Saturday 11 October 2008, starting at 5 p.m.

Agenda:
1.  Proposed amendments to the Company's Articles of Association.[1]
2.  Any other business.

The agenda of the meeting and finalised motions will be submitted  on
display to shareholders at the  Bank's office at Kirkjusandur 2,  5th
floor, at least  one week  before the  shareholders' meeting.   These
documents will also be accessible at www.glitnir.is.

Any shareholder is entitled to have a specific matter addressed at  a
shareholders' meeting,  providing  that  the  shareholder  submits  a
written request to  this effect to  the Board of  Directors no  later
than five business  days before  the start  of the  meeting.  Such  a
matter shall be  submitted in  writing in  a provable  way[2] to  the
Bank's office before midnight on Sunday 5 October 2008.

Ballots and admission tickets  for the meeting  will be available  to
shareholders or their proxies at the meeting venue from 4 p.m. on the
day of the meeting.  Ballots and tickets cannot be collected after  5
p.m.  Shareholders may vote electronically on items on the agenda  of
the meeting.
Shareholders intending to vote by such  means need to have access  to
the Internet.    Further information on the procedure for  electronic
participation is available on the Company's website,  www.glitnir.is.



Board of Directors of Glitnir bank hf.




[1] The  Board  of Directors  of  Glitnir bank hf.  proposes  to  its
shareholders' meeting, held 11 October 2008, the following amendments
to the Company's Articles of Association:
That the share  capital of the  Company shall be  increased by   ISK
44.642.103.909 - forty four billion six hundred forty two million one
hundred and three  thousand nine hundred  and nine Icelandic  krónur.
 The new shares will be sold  to the Icelandic Government at a  total
price of  600.000.000€  - six  hundred  million  Euros.  Shareholders
waive their pre-emptive rights to the increase.
If the proposal is  accepted Article 4, subparagraph  1 will read  as
follows subsequent to the increase:"The share capital of the Company is ISK 59.522.805.212 - fifty  nine
billion five  hundred  twenty  two million  eight  hundred  and  five
thousand two hundred and twelve  Icelandic krónur  - divided into  an
equal number of  shares of a  nominal value of  1 Icelandic  króna."
Subject to that subparagraph 5 of Article 6 shall be deleted.

[2] A written request can be submitted to the Bank's office via fax:
+354 4404001 or in a pdf-file to the e-mail address:
hluthafafundur@glitnir.is.  The originals shall be delivered to the
Bank's office on Monday 6 October 2008.

Attachments:

Notice of Shareholders Meeting.pdf