Icebank - Changes board/management/auditors

- New CEO at Icebank

Finnur Sveinbjörnsson, CEO of Icebank, will step down from his post at the bank
by mutual agreement.  The board has engaged Agnar Hansson as the new CEO. 
Agnar has been Manager of Icebank's Treasury and Capital Markets division for
the past two years, and has over 10 years' experience of work in the financial
sector.  He was involved in the development of FBA Bank (Fjárfestingarbanki
atvinnulífsins) and was the first Dean of the School of Business at Reykjavík
University.  Born in 1965, Agnar holds a Cand. Scient. Oecon. degree from the
University of Århus, Denmark. 


Finnur has managed Icebank since 2002 and guided it through a major
transformation process over the past year and a half.  During this period the
bank's role has evolved from being that of a service institution for savings
banks to being a more comprehensive investment bank.  Its ownership has also
changed in the past few weeks.  The volume of the bank's operations has
expanded substantially under Finnur's management.  At the end of 2001 its
assets stood at ISK 54 billion; at the end of 2007 they are estimated at over
ISK 200 billion. 

At this parting of ways, the Board of Directors of Icebank thanks Finnur for
his good work and wishes him every success in his future career. 

For further information, please contact:
Geirmundur Kristinsson, Chairman of the Board of Icebank, tel. (+354) 421 6600.