Glitnir banki hf. - Company Announcement

- Redemption price for the minority shares in Glitnir is EUR 8.00 per share

The Arbitral Tribunal appointed by the Finnish Central Chamber of Commerce has
on 9 November 2007 confirmed the redemption price for the shares in Glitnir
Corporation (FIM Group Corporation until 11 October 2007), a Finnish subsidiary
of Icelandic Glitnir banki h.f. (the “Redeemer”), to be EUR 8.00 per share. The
redemption price confirmed by the Arbitral Tribunal is the same as the
redemption price offered by the Redeemer in the obligatory purchase offer. The
Arbitral Tribunal dismissed minority shareholders' claims concerning their
legal costs. 

The redemption price and interest thereon shall be paid to the former minority
shareholders within a month from the date when the Arbitral Award gained legal
force, at the latest. According to the Finnish Companies Act, an appeal shall
be filed with the District Court no later than 60 days after the registration
of the Arbitral Award. 

Glitnir Oyj


Further information:

Mari Tyster, Head of Group Legal and Compliance, tel. +358 9 6134 6416
Anssi Partanen, Corporate Communication Manager, tel. +358 9 6134 6429, mob.
+358 50 5681952