Directors Dealing



Gunnar Páll Gunarsson, Member of the Board of Kaupthing bank hf., has
today 21 August 2007, bought 1,764 shares in the bank on the rate
1,125 kr. pr share. Gunnar Páll has 6,074 shares in the bank after
the trade. Parties financially connected to Gunnar Páll have 6,115
shares in the bank. Gunnar Páll holds no options for shares in the
bank.