- Glitnir sells 39,8% share in Tryggingamiðstöðin


Glitnir banki hf. (Glitnir) has sold a 39.8% stake in Tryggingamiðstöðin hf.
(TM), a total of 433.614.869 shares. These are all the shares the Bank secured
in the transaction announced on September 5th. The stake is being acquired by
FL Group at the price of ISK 47 per share. FL Group will pay for the stake with
shares in FL Group at the price of ISK 24.3 per share, which was the closing
price of FL Group shares on September 14th 2007. FL Group intends to issue new
shares, valued at ISK 20.38 billion, in connection with this transaction. The
transaction is subject to approval by The Icelandic Financial Supervisory
Authority of increased qualifying holding by the purchaser, as well as approval
by the FL Group shareholder meeting, to be held September 25th. 
Glitnir´s objective is to sell all the shares in FL Group to institutional
investors and other qualified investors at the price of ISK 24,3 per share. 

Further information

Einar Örn Ólafsson, Managing Director, Glitnir Corporate Finance, Tel.
+354-844-4534, einar.olafsson@glitnir.is 

Jóhannes Baldursson, Managing Director, Glitnir Capital Markets, Tel.
+354-844-4484, johannes.baldursson@glitnir.is 

Bjorn Richard Johansen, Managing Director, Glitnir Corporate Communications,
Tel. +4747 800 100, brj@glitnir.no