- Future organization of Glitnir in Norway


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