16 March 2007 - Based on to the agreements entered into between Glitnir banki hf. and the 11 main shareholders of FIM Group Corporation on 5 February 2007, Glitnir banki hf. today aquired 68.1 percent of the shares in FIM Group Corporation in Finland on terms announced on February 5th 2007. Glitnir plans to launch a tender offer for the remaining shares in FIM Group in early April. - We are very pleased that this transaction is completed and we are moving forward as planned with remaining aspects of the acquisition. We anticipate to submit the tender offer before Easter after the offer documents have been completed and approved by the relevant authorities, comments Bjarni Ármannsson, CEO of Glitnir. FIM held its Annual General Meeting of shareholders in Helsinki Thursday March 15. According to resolution on the Annual General Meeting Bjarni Ármannsson, Frank Ove Reite, Sverrir Örn Thorvaldsson, Niklas Geust and Vesa Honkanen will be the members of FIM's Board of Directors starting from the transfer of the ownership. For further information, please contact: Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir, mobile +47-47 800 100, email: brj@glitnir.no Vala Pálsdóttir, Head of Investor Relations, mobile: +354 844 4989, e-mail: vala.palsdottir@glitnir.is For more information: www.glitnirbank.com and www.fim.com Press release from 05.02.2007, "Glitnir acquires majority in the listed FIM Group in Finland": http://www.glitnir.is/English/AboutGlitnir/News/?ItemId=967