Exista hf. - Tender offer

- Redemption of shares in Skipti hf.

Following the settlement of Exista's ("Exista") takeover bid for shares in
Skipti ("Skipti") yesterday, 2 June 2008, Exista and its subsidiary companies
now own a total of 7,443,667,219 shares in Skipti or the equivalent of 99.22%
of the share capital and have corresponding voting rights in the company. In
view of this, Exista and the Board of Directors of Skipti have decided that
other shareholders in Skipti shall be subject to redemption of their shares,
pursuant to Article 110, paragraph 1, of Act No. 108/2007 on Securities
Transactions. 

The redemption price is ISK 6.64 for each share in Skipti. The shares will be
paid for with shares in Exista, whereby each share in Exista is priced at ISK
10.1. This is the same price and compensation that Exista offered shareholders
in Skipti in its takeover bid on 26 May 2008. Payment will be made on 2 July
2008. 

The shareholders in Skipti, to whom this redemption applies, will receive a
notification of the redemption with a share transfer form. This notification
and share transfer form will also be available at Kaupthing Bank hf., Borgartún
19, 105 Reykjavík.