Glitnir banki hf. has started a process aiming at modelling the future organization of Glitnir's activities in Norway. Following this decision Glitnir banki hf. will apply for permission to coordinate its activities in the Norwegian market including a merger between Bolig- og Næringsbanken ASA og Glitnir Bank ASA. As of today no formal decisions have been made in the companies' decision-making bodies. Bolig- og Næringsbanken ASA will inform the Norwegian bond market and its other creditors about the process on a continuous basis. Bolig- og Næringskreditt ASA will be kept as a separate company without any changes to its articles of association. Further comments: Managing Director Gunnar Jerven, + 47 922 36 808 Managing Director Corporate Communication Bjørn Richard Johansen, +47 47 800 100