Exista hf. - Company Announcement

Liquidity and funding update

Exista hf. gives today an update on the Group's funding and liquidity position
at the end of 2007. 

On 31 December 2007, Exista had committed liquidity that covered refinancing
needs for 50 weeks, and 42 weeks if Exista's full commitment of 35 million
shares in Kaupthing Bank's rights issue is included. Committed liquidity
includes cash and cash equivalent, committed credit lines and high grade
repo-eligible securities. Not included in those calculations are other liquid
assets, estimated cash generation from insurance and asset finance activities,
nor proposed dividends from holdings such as Sampo Group, Kaupthing Bank,
Bakkavör Group and Storebrand. 

Refinancing need for the year 2008 amounts to a total of EUR 1.2 billion,
weighted towards the latter part of the year. Exista raised a total of EUR 4.3
billion in debt during the course of 2007 and has systematically expanded and
diversified funding sources. Over 70% of the Group's total borrowings are
originated from international markets. 

Exista will publish its annual accounts for 2007 on 31 January which will
include a further update of the Group's funding and liquidity position. 

Enquiries:
Exista hf.                                         
Sigurdur Nordal
Managing Director
Group Communications
ir@exista.com           +354 550 8620  / +354 860 8620



About Exista
Exista is a financial services group with operations in the areas of insurance,
asset finance and investments. The company is a leading insurance underwriter
in Iceland, as well as being the country's largest provider of asset finance
products. As an international investor, Exista has strategic holdings in
several companies, including Sampo Group, Kaupthing Bank, Bakkavör Group, and
Skipti (Iceland Telecom). Exista is listed on the OMX Nordic Exchange in
Iceland and its shareholders number around 30 thousand. 

Information on Exista can be found on the group's website: www.exista.com