Kaupthing Bank acquires a 20% stake in FiNoble Advisors in India

Kaupthing Bank has signed an agreement to acquire a 20% stake in the
Indian investment services company FiNoble Advisors Private Ltd.
(FiNoble) with an option to acquire the remaining 80% in five years.
The investment creates a foothold for Kaupthing in the fast growing
Indian financial market.

FiNoble was founded in 2004 and presently operates out of its office
in New Delhi. It has 25 employees and its main emphasis is on
traditional M&A advisory services. FiNoble focuses on advising Indian
companies on acquisitions in Europe and US and non-domestic firms on
entry into the Indian market.

Kaupthing made an investment in the company to acquire the 20% stake.
Kaupthing will treat FiNoble as an associated company in it's
accounts. The acquisiton will have an insignificant effect on
Kaupthing's results this year.

For further information please contact:
Jónas Sigurgeirsson, Chief Communications Officer, tel 354-444-6112
or ir@kaupthing.com
Henrik Gustafsson, Director, Business Development, tel +44 203 205
5056.


About Kaupthing Bank
Kaupthing Bank is a northern European bank offering integrated
financial services to companies, institutional investors and
individuals. These services include corporate banking, investment
banking, capital markets services, asset management and comprehensive
wealth management for private banking clients. The Bank operates in
ten countries, including all the Nordic countries, Luxembourg,
Switzerland, the UK and the US. In addition the Bank operates a
retail franchise in Iceland, where it is headquartered.

Kaupthing Bank is currently among the seven largest banks in the
Nordic region in terms of market capitalization. Through sound
organic growth and strategic acquisitions like the UK bank Singer &
Friedlander in 2005 and FIH Erhvervsbank in Denmark in 2004,
Kaupthing Bank has fortified its position to provide outstanding
services to its client base in the UK, the Nordic countries and
elsewhere in northern Europe. The Bank has 2,719 employees and total
assets of EUR 42.9 billion (as of 31 December 2006).
www.kaupthing.com