SPRON Verðbréf hf. - Notice to convene extr.general meeting

- Notice of shareholders' meeting

A shareholders' meeting of Reykjavík Savings Bank hf. (SPRON) will be held at
the Hilton Reykjavík Nordica, Sudurlandsbraut 2 in Reykjavík, on Wednesday 6
August 2008 at 5:00 pm. 
Agenda:
1. Proposal of the Board of Directors on the merger between Reykjavík Savings
Bank hf. (SPRON) and Kaupthing Bank hf. The proposal is as follows: "A
shareholders' meeting in Reykjavik Savings Bank hf. held on 6 August 2008
confirms the merger schedule signed by the board of directors of the company
and the board of directors of Kaupthing Bank hf. on 1 July 2008, thereby
confirming the merger between the company and Kaupthing Bank hf. on the basis
of the provisions of the said merger schedule."   The proposal assumes that
SPRON shall be dissolved without settlement of debts and Kaupthing Bank hf.
will take over the assets and liabilities of SPRON on the basis of the
provisions of Chapter XIV of Act no. 2/1995 on Public Limited Companies, cf.
Art. 106 of Act no. 161/2002 on Financial Undertakings. The merger is subject
to the approval of a SPRON shareholders' meeting, the approval of the Icelandic
Financial Supervisory Authority and the condition that the competition
authorities do not invalidate it or impose conditions which the boards of
directors of the companies would consider unacceptable or which would leave
them with no choice but to resubmit the merger proposal to another SPRON
shareholders' meeting. The merged company will assume the operations, assets
and liabilities, as well as the rights and obligations of SPRON when the above
conditions have been met.  Upon the merger SPRON shareholders will receive
0.002007864 shares in Kaupthing Bank hf. and 0.305585106 shares in Exista hf.
as payment for each share of a nominal value of one króna in SPRON. In all
other respects, reference is made to the merger schedule which was approved by
the boards of directors of the companies on 1 July 2008. 


2. Any other business legitimately raised.

Ballot papers and other material will be distributed to shareholders or their
proxies at the meeting venue from 4:00 p.m. on the day of the meeting. The
shareholders' register as current at 9:00 a.m. on the day of the meeting will
be used to determine voting rights. 

Shareholders who are unable to attend the meeting can vote electronically
online at www.spron.is/kosningar. In order to be able to vote electronically
shareholders must register before 4:00 p.m. on 30 July 2008 and they will then
be allocated a password. Electronic votes must be received before 4:00 p.m. on
31 July 2008. Shareholders can register to vote electronically at SPRON's
headquarters at Ármúli 13a, 108 Reykjavík by showing a valid personal
identification document. Electronic votes will only be deemed acceptable if the
party voting is a registered shareholder in the shareholders' register at 9:00
a.m. on the morning of the shareholders' meeting. If a shareholder who has
voted online also attends the meeting, the online vote will not be counted. 

The agenda of the meeting is available at Ármúli 13a in Reykjavík and on
SPRON's homepage, www.spron.is. 


The Board of Directors of SPRON hf.



For further information please contact: 
Soffia Sigurgeirsdóttir Director of Investor Relations
Tel: +354 550 1771 or ir@spron.is