Related Party Trading

| Source: Kaupþing banki hf. Kaupþing banki hf. 

Straumborg ehf., a company which is financially related to Brynja
Halldórsdóttir, a member of the Board of Directors of Kaupthing Bank
hf., has today, on February 28, 2007, extended a forward contract by
closing a previous contract, cf. notice dated 29 December 2006, with
a sale of 117,500 shares in the Bank at a price of 882.80 ISK pr.
share and by purchasing the same number of shares with a forward
contract. The maturity date of the forward contract is 14 March 2007,
at which time the shares will be delivered at the price of 888,89 ISK
per share.

Brynja Halldórsdóttir owns 9,206 shares in the bank. Parties
financially related to Brynja Halldórsdóttir own 14,112,048 shares in
the bank. Following the transactions parties financially related to
Brynja Halldórsdóttir own 4,817,500 shares in the Bank according to
forward contracts.