Reykjavik/Stockholm/Oslo/Helsinki, 5 July 2007 - Glitnir Property Holding AS has today completed the acquisition of 91% of the shares in Leimdörfer Holding AB. Leimdörfer is a leading Swedish commercial real estate adviser operating mainly in the Swedish and Finnish property market. Before the transaction Glitnir Property Holding owns 100% of Glitnir Property Group, the leading Norwegian commercial real estate adviser, located in Oslo, focusing on larger corporate transactions, syndication and financing advisory in the commercial real estate business. After the transaction Glitnir Property Holding will be a leading adviser in the Nordic commercial real estate market, its subsidiaries having offices in Oslo, Stockholm and Helsinki. Combined pro forma transaction value of Glitnir Property Holding for 2006 was approximately EUR 5 billion. Glitnir Property Holding is owned by Glitnir Bank (70%) and the former partners of UNION Gruppen, Union Eiendomskapital and Leimdörfer (30%). Peter Leimdörfer will be the Managing Director of the new company. About Glitnir Property Holding Glitnir Property Holding is a holding company that owns 100% of the shares in Glitnir Property Group AS and 91% of the shares in Leimdörfer Holding AB. Glitnir Property Holding is owned by Glitnir Bank (70%) and the former partners of UNION Gruppen, Union Eiendomskapital and Leimdörfer (30%) About Leimdörfer Leimdörfer is a leading adviser in the Nordic property market. Since Leimdörfer was founded in 1992, the company has built a solid track record of successfully executed transactions in the Nordic property market. By combining cutting edge financial skills with in-depth insight into the Nordic property market, Leimdörfer offers a unique set of property related financial and strategic advisory services. Leimdörfer offers advisory services across the following areas: Property Transactions (EUR 13+ billion in successfully executed property transactions), Corporate Finance (lead financial adviser in 10 of the last 18 public-to-private property transactions in Sweden), Property Finance arranging (EUR 1+ billion of financing arranged), Strategic Advisory (25+ independent advisory mandates since 2000), Leimdörfer operates in the Nordic property markets, with offices in Stockholm and Helsinki and a team of 40 employees. For more information: www.leimdorfer.com. About Glitnir Property Group Glitnir Property Group is located in Oslo and is the leading Norwegian commercial real estate adviser and successfully focuses on syndication and financing advisory. The company owns Glitnir Norsk Næringsmegling AS, UNION Eiendomskapital AS and Glitnir Real Estate AS, with a total of 30 employees. Glitnir Norsk Næringsmegling, with 17 employees, is the leading Norwegian commercial real estate adviser. The company acted as adviser in transactions totaling approximately EUR 1.5 billion in 2006, and had a turnover of EUR 18 million. UNION Eiendomskapital manages one of Norway's largest real estate funds, Storebrand Eiendomsfond and have a total under property fund management of approximately EURO 1 billion. UNION Eiendomskapital has 10 employees and had a turnover of EUR 7 million in 2006. About Glitnir The financial group Glitnir offers universal banking and financial services. Glitnir is a leading niche player in three global industry segments; seafood/food, sustainable energy, and offshore services vessels. Services include retail, corporate and investment banking, stock trade/brokerage and capital management. Glitnir considers Iceland and Norway its home markets. The Glitnir group has operations in Iceland, Norway, Sweden, Denmark, Finland, the UK, Luxembourg, Russia, Canada and China and plans to open a US office in New York in the fall of 2007. Glitnir is listed on the Icelandic Stock Exchange. For more information: www.glitnirbank.com For more information: Press release of 17 April 2007: http://www.glitnir.is/English/AboutGlitnir/News/?ItemId=1085 Peter Leimdörfer, Managing Director and partner, Glitnir Property Holding, mobile +46 70 567 91 44, e-mail: peter.leimdorfer@leimdorfer.se Bjørn Richard Johansen, Managing Director, Corporate Communication, Glitnir, e-mail: brj@glitnir.no, mobile +47 47 800 100 For more photos, please contact: akj@glitnir.no