FIM Group - Changes board/management/auditors

JAN FORSBOM APPOINTED NEW EVP FOR GLITNIR INVESTMENT MANAGEMENT

FIM GROUP CORPORATION STOCK EXCHANGE RELEASE ON MAY 14, 2007

GLITNIR STRENGTHEN EXECUTIVE MANAGEMENT: JAN FORSBOM APPOINTED NEW EVP FOR
GLITNIR INVESTMENT MANAGEMENT

Reykjavik/Helsinki, 14 May 2007 - Jan Forsbom (42), Managing Director for FIM
Asset Management, Helsinki Finland, has been appointed Executive Vice President
within Glitnir with responsibility for Investment Management. This unit aims to
implement FIM's products and services cross-border within Glitnir as well as
strengthen all the services covering fund management, discretionary asset
management, structured products, private banking and distribution. Glitnir aims
to grow cross-border Investment Management substantially in the coming years, on
the back of FIM's strong track record in Finland.

Forsbom has been pivotal in developing FIM into a leading financial group in the
wealth management, brokerage and corporate advisory sectors throughout its
operations in Finland, Sweden and Russia. Forsbom will be stationed in Helsinki,
where the leadership of Glitnir's Investment Management business is based.

"FIM's track record within asset management is outstanding and of the 12
Morningstar rated equity and balanced funds, five have a full five star rating.
Forsbom will be central in making our Investment Management strategy a success
both for our customers and for our shareholders," says Lárus Welding, CEO of
Glitnir.

"To grow within investment management we need leaders with in-depth product and
services knowledge that can manage this rapidly growing business. Jan Forsbom
has a successful track record built on some 20 years of versatile management
experience in the industry. I am looking forward to have him on the team," says
Lárus Welding, CEO of Glitnir.

"This appointment is a recognition of FIM's strong asset management
capabilities. Jan Forsbom will take asset management to the next level and be
instrumental in integrating investment management cross border in Glitnir. This
also marks the first step in making FIM an integral part of Glitnir," says Risto
Perttunen, CEO of FIM.

Glitnir acquired 68.1 % of the shares in FIM in the beginning of February, and
the public offering for the remaining shares will close May 16. FIM and Glitnir
will have a total of EUR 9.3 billion in assets under management in 40 different
mutual and investment funds and discretionary portfolios internationally.
Combined, Glitnir and FIM ranked as the second largest broker by market share of
total trading turnover in the combined Nordic equity market in the first quarter
of 2007. Together the company will have 45 research analysts covering more than
200 listed companies in Iceland, Norway, Sweden, Finland and Russia.

Glitnir's strategy has been to strengthen its management by the appointment of
leaders with a proven track record from the finance industry. The announcement
of Jan Forsbom's appointment follows the recent announcement that Morten
Bjørnsen will head the banking division in the Nordic countries and Sveinung
Hartvedt will head Capital Markets in Glitnir. Frank O. Reite has taken on
responsibility for Strategic Growth & Business Development. He will focus fully
on the strategic development and integration of the companies acquired by the
group in the Nordic region. Jan Forsbom will take up his new role on June 1,
while Bjørnsen will start August 1 and Hartvedt on September 1.

"Forsbom will be tasked with growing asset management and investment management
in Glitnir, including the facilitation of the establishment and growth of
investment management in the Nordics and other countries, in which the bank
currently has offices," comments Lárus Welding.

"To me, Glitnir and FIM is a perfect match. There are almost no overlapping
businesses and the people and know-how in Glitnir and FIM complement each other
neatly. The spirit of doing and achieving is very similar. We have already
identified a lot of direct opportunities in growing the business. We will be
able to provide our customers with a broader range of products and services.
Unified we will be able to set our service standards at an even higher level. I
can guarantee that our customers will benefit from this. I look forward to
contributing to customer devotion and Glitnir's further growth," said Jan
Forsbom.

Glitnir is now a strong player in the Nordic investment management and
securities market. FIM Asset Management brings a very strong equity asset
management expertise to Glitnir, coupled with an exceptionally strong niche in
the emerging markets - the area where the strongest global growth is taking
place. Based on statistics published by OMX and Oslo Stock Exchange, Glitnir is
the second largest equity broker in the Nordic countries in terms of market
turnover, with operations in five countries; Iceland, Norway, Sweden, Finland
and Russia (the latter two as a result of the recent acquisition of FIM).
Glitnir has increased its market share substantially in one year, from 0.8% Q1
2006 to 6.05% Q1 2007. The strong increase is a result of both organic growth
and the acquisitions of Norse Securities (now Glitnir Securities), Fischer
Partners (now Glitnir AB) and FIM Group (tender offer closing 16 May). The
combined market share for Glitnir and FIM during the first three months of 2007
was 26% in Iceland, 6.66% in Finland, 6.28% in Sweden, 5.63% in Norway and 3.24%
in Denmark.

Marketshare Equity Trading Nordics Q1 2007                          
Skandinaviska Enskilda Banken AB                                    7.53 %
Glitnir/FIM                                                         6.05 %
Morgan Stanley & Co. International LTD                              5.99 %
Carnegie Investment Bank AB                                         5.83 %
Svenska Handelsbanken AB                                            4.44 %

Jan Forsbom joined FIM in 2000 as Managing Director for FIM Securities Ltd. He
became CEO for FIM Group Ltd in 2005 and has headed FIM Asset Management Ltd.
since the summer of 2006. Previously he was a Director of the HEX Exchange, Vice
President for the OM Group - OM Energy Solution in Sweden; a Director of SOM
Ltd. and EL-EX Electricity Exchange Ltd. Jan Forsbom has worked within the
fields of finance, brokerage and asset management since 1987. Educated at
Helsinki University (Master of Law) and Henley Management College (MBA) in the
UK, he is married with four children.

FIM Group Corporation

For additional information, contact:

Lárus Welding, CEO, Glitnir: mobile +47-47 800 100

Frank O. Reite, Executive Vice President for Strategic Growth & Business
Development in Glitnir: mobile +47-915 80 604

Jan Forsbom, Executive Vice President, Glitnir Investment Management, e-mail:
jan.forsbom@fim.com, mobile +358-50-531 9292

Bjørn Richard Johansen, Managing Director, Corporate Communication, Glitnir:
e-mail: brj@glitnir.no, mobile +47-47 800 100


Distribution:
Helsinki Stock Exchange
Principal media
www.fim.com.

FIM is a growing investment services group that offers asset management,
brokerage and investment banking services for private individuals and
organizations. Since March 2007 FIM is part of Icelandic financial group Glitnir
(www.glitnirbank.com). In addition to the head office in Helsinki, FIM has
regional offices in Espoo, Jyväskylä, Kuopio, Lahti, Oulu, Riihimäki, Tampere,
Turku and Vaasa. FIM also operates in Stockholm and Moscow. The company had net
sales in 2006 of EUR 82.0 million, and it posted operating profit of EUR 19.1
million. FIM had a payroll of 284 employees at the end of 2006. www.fim.com