Before the opening of markets on 9 February 2007, Frank Ove Reite, Executive Vice President, exercised an option agreement with Glitnir banki hf., dated 29.7.2005, that was notified on that date to the Iceland Stock Exchange, regarding 5,666,667 shares at the price of 26,10. The agreement was exercised by way of cash settlement without transfer of shares. After this transaction, Frank Ove Reite has a call option for 32,666,667 shares in Glitnir banki hf. The holdings by Reite and related parties of shares in Glitnir banki hf. remains unchanged.