Kaupþing banki hf. - Company Announcement

- Moody's maintains review on Kaupthing

Moody's Investors Service has announced that the Aa3/C ratings of Kaupthing
Bank hf ("Kaupthing") remain under review for possible downgrade. Kaupthing was
placed on review following the announcement of the acquisition of NIBC in
August 2007. At the same time, Moody's has maintained NIBC rating of Baa1 on
review for possible upgrade. 

Further information:
Gudni Adalsteinsson - Chief Treasurer, + 354 444-6126
Jónas Sigurgeirsson - Chief Communications Officer, +354 444-6112