Name Kaupþing banki Date of transaction 22.3.2007 Buy or Sell Sale Type of instrument Equities Number of shares 1.624.000 Price 303 Primary insider's holdings after the transaction 14.923.295 Date of settlement Reason for transaction The shares were sold to Hreidar Mar Sigurdsson, CEO and Sigurdur Einarsson, Executive Chairman in connection with their exercising of stock option agreements, cf. the Bank´s announcement dated 22 March 2007. A total of 10,427,223 shares, are held in the Bank´s books as a hedge against forward contracts with clients.