Straumur-Burðarás Fjárfestingabanki hf. - Company Announcement

- On recent events in Iceland

In light of the extraordinary legislative measures submitted by the government
of Iceland and passed by parliament yesterday, providing for broad authority to
regulators to intervene in the Icelandic financial system, Straumur-Burdaras
Investment Bank hf. (Straumur) wishes to state the following: 
 

Straumur has provided all relevant Icelandic authorities with detailed
information about the bank's financial position and has met all such requests
for the provision of information. Straumur has not received any indication that
its position warrants intervention and the bank remains committed to working
with all the relevant authorities as required. 
 

Says William Fall, CEO of Straumur: "Straumur continues to enjoy a strong
financial position, with a high capital adequacy ratio and significant
liquidity resources. Notwithstanding the recent turmoil, we are endeavoring to
continue as before to execute the strategy that we have set out to achieve." 

 
At this stage it is not possible to estimate how any intervention by the
authorities into the operations of other financial companies might affect
Straumur. 

 
Straumur remains committed to the purchase of Landsbanki Securities (UK)
Limited, Landsbanki Kepler and Merrion Landsbanki, and expects these
acquisitions to go through as planned. 

 
All deposits placed with Straumur in Iceland are fully guaranteed by the
Icelandic authorities. Deposits placed with Straumur's branches and
subsidiaries in Denmark, the Czech Republic and Finland enjoy the general
guarantees that apply in those respective markets. 

 

For further information contact:

Ólafur Teitur Gudnason

Vice President, Media Relations

Mobile: +354 858 6778

E-mail: olafur.gudnason@straumur.net

 

Ed Gascoigne-Pees

Managing Director

Financial Communications

Tel: +44 (0)20 7269 7132

Mobile: +44 (0)7884 001 949

E-mail: ed.gascoigne-pees@fd.com