- Exista controls 5.56% of share capital in Storebrand


According to a flagging notification by the financial services group Exista hf.
(Exista) to Oslo Børs (Oslo Stock Exchange) at close of business yesterday, it
was announced that Exista's hf. holding in Storebrand ASA (Storebrand) has
exceeded 5.0%. Following the transaction, Exista controls, through its
subsidiaries, 13,901,120 shares in Storebrand, or 5.56% of total share capital.
Exista purchased the shares in Storebrand at an estimated average price of NOK
76.25. At the close of business at Oslo Børs yesterday, the total value of the
shares in Storebrand held by Exista was approximately EUR 152 million. 

Prior to this transaction, Exista controlled 12,394,770 shares in Storebrand.  

The Storebrand group is a leading player in the Norwegian markets for pensions,
life and health insurance, banking, and asset management. 

Lýdur Gudmundsson, Executive Chairman of Exista:
“Our investment in Storebrand reflects the strong belief we have in the
financial services sector.” 


Enquiries:
Exista hf.                                         
Sigurdur Nordal
Managing Director
Group Communications
ir@exista.com           +354 550 8620  / +354 550 8600



About Exista
Exista is a financial services group with operations in the areas of insurance,
asset finance and investments. The company is a leading insurance underwriter
in Iceland, as well as being the country's largest provider of asset finance
products. As an international investor, Exista has strategic holdings in
several companies, including Sampo Group, Kaupthing Bank, Bakkavör Group, and
Skipti (Iceland Telecom). As of 30 June 2007, Exista's total assets amounted to
EUR 7.7 billion and total equity amounted to EUR 2.8 billion. The Group's total
market capitalisation was EUR 5 billion at the end of July. Exista's goal is to
use its financial strength for the further development of its business in
Northern Europe. Exista is listed on the OMX Nordic Exchange in Iceland, and
its shareholders number over 30 thousand. 

Information on Exista hf. can be found on the Group's website: www.exista.com