- Arbitral Proceedings Regarding the Redemtion of Shares in FIM Group Corporation (“FIM”)

FIM Group Corporation has today received the following information from Glitnir
banki hf. 

Arbitration 

Glitnir banki hf. (Glitnir) has on 28 May 2007 filed an application in
accordance with Chapter 18, Section 4, Subsection 1 of the Finnish Companies
Act to the Redemption Board of the Finnish Central Chamber of Commerce to
appoint an Arbitral Tribunal. Glitnir has thus initiated arbitral proceedings
to redeem all shares in FIM in accordance with Chapter 18, Section 3 of the
Finnish Companies Act. 

Redemption Price

The claimed redemption price is EUR 8.00 per share which according to Glitnir
shall be considered to be a fair price as set forth in the Finnish Companies
Act. 

The claimed redemption price corresponds to the price Glitnir paid for the
shares in the trading on 16 March 2007, through the trading Glitnir acquired
over 68 per cent of the shares in FIM from FIM's eleven principal shareholders,
and to the price Glitnir paid for the shares in FIM in the public tender offer
pursuant to Chapter 6, Section 10 of the Finnish Securities Market Act, which
ended on 16 May 2007. With the mentioned trading and tender offer Glitnir
obtained over 98 per cent of the shares and votes in FIM. 

Trustee

The Redemption Board of the Finnish Central Chamber of Commerce shall, when an
application according to Chapter 18, Section 4, Subsection 1 of the Finnish
Companies Act has arrived, apply for the appointment of a trustee by the
District Court of Helsinki to look after the interests of the minority
shareholders in the arbitral proceedings. The District Court's appointment of
the trustee shall be entered in the trade register information of FIM. 

The contact information of the trustee are available to the shareholders from
FIM and the Finnish Trade Register once the trustee has been nominated and the
contact information of the trustee has been entered in the Finnish Trade
Register. 


FIM Group Corporation

Further information:

Bjorn Richard Johansen, Managing Director, Corporate Communications, tel: +47
47 800 100 or e-mail: bjr@glitnir.no. 

Vala Pálsdóttir, Head of Investor Relations, tel. 354-440-4989 or e-mail:
vala.palsdottir@glitnir.is. 

DISCLAIMER

These materials are not an offer of securities for sale in the United States.
Securities may not be offered or sold in the United States absent registration
or an exemption from registration under the U.S. Securities Act of 1933, as
amended. The issuer of the shares has not registered, and does not intend to
register, any portion of the offering in the United States and does not intend
to conduct a public offering of shares in the United States. 

This document may not be published, released or otherwise distributed, full or
partially, to the United States, Canada, Japan or Australia. This document is
not a prospectus and as such does not constitute an offer to sell or the
solicitation of an offer to purchase shares or rights to subscribe for shares. 
Investors should not subscribe for any shares or rights referred to in this
document, or tender any shares, except on the basis of the information
contained in a prospectus or tender offer document. The offer will not be made
in any such country in which either the offer or the participation into it
would be prohibited, or would acquire, in addition to measures under Finnish
law, tender offer's preparing, registration or any other measures. 

Offers will not be made directly or indirectly in any jurisdiction where
prohibited by applicable law and any offer documents and related acceptance
forms will not and may not be distributed, forwarded or transmitted into or
from any jurisdiction where prohibited by applicable law. In particular, the
rights offering and the tender offer will not be made, directly or indirectly,
in or into, or by use of the mails of, or by any means of instrumentality
(including fax, telex, telephone or Internet) of interstate or foreign commerce
of, or any facilities of a national securities exchange of Australia, Hong
Kong, Japan, South-Africa, Canada or the United States. The tender offer is not
acceptable, if one of the before mentioned means are used or if the approval of
the tender offer is executed in the United States, Canada, Japan or Australia. 


FIM is a growing investment services group that offers asset management,
brokerage and investment banking services for private individuals and
organizations. Since March 2007 FIM is part of Icelandic financial group
Glitnir (www.glitnirbank.com). In addition to the head office in Helsinki, FIM
has regional offices in Espoo, Jyväskylä, Kuopio, Lahti, Oulu, Riihimäki,
Tampere, Turku and Vaasa. FIM also operates in Stockholm and Moscow. The
company had net sales in 2006 of EUR 82.0 million, and it posted operating
profit of EUR 19.1 million. FIM had a payroll of 284 employees at the end of
2006. www.fim.com.