In accordance with Glitnir bank's compensation policy, the Board of Directors has approved a stock option policy for the remainder of the year 2007 and for the year 2008. The policy provides that in this period key employees will be granted stock options amounting to 550 million shares in the bank . The stock options can be exercised partly before June 2010 and then in full, according to a detailed schedule. The strike price is ISK 27,5 per share, which was the market price of shares in Glitnir bank on the 30th of May when the board approved the above.