ICEQ comprised the following at the end of 22nd May 2007:


ISK	10.821.842	
365	7.413.806	
A	12.187.760	
ACT	7.754.936	
ATOR	10.465.069	
BAKK	6.223.991	
FL	12.271.754	
GLB	34.422.610	
HFEIM	1.851.580	
KAUP	2.141.087	
LAIS	31.465.159	
MARL	552.573	
MOSAIC	8.302.724	
OSSR	589.098	
STRB	24.163.823	
FO-ATLA  4.547	
ICEQ		2.764.681

Investors are advised to read the ICEQ prospectus on Kaupthing Bank's Fund
Center, www.kbsjodir.is, or on the news page of the Iceland Stock Exchange:
http://news.icex.is/newsservice/MMIcexNSWeb.dll/newspage?language=IS&pagetype=sy
mbolnewslist&primarylanguagecode=IS&newsnumber=30035. 

Rekstrarfélag Kaupþings banka hf.