CORRECTION: Announcement 2007-05-29 11:23:34 - Date of transaction: 25.5.2007

| Source: Landsbanki Íslands hf. Landsbanki Íslands hf. 

Correction: Major Holding in Teymi not Landsbanki Íslands

Name of party notifying:
Landsbanki Íslands hf

Address of the party notifing:
Austurstræti 11

Date of transaction:	
25.5.2007

Number of shares in transaction:	
9.444.734

Number of shares before the transaction:
360.637.609

Number of shares after the transaction:
351.192.875

Holdings of total nominal value before the transaction %:	
10,10%

Holdings of total nominal value after the transaction %:	
9,84%

Notification is based on:
Art. 33 (1) of the Act no. 33/2003 point(s) no.1. 
	
Additional information:	
After the transaction a total of 244.568.727 shares, a 6,85% stake, is held in
Landsbanki's books as a hedge against forward contracts.