FL Group hf. (the “Offeror”) is the owner of 97.92% of the share capital in Tryggingamiðstöðin hf. (“TM”). The Offeror has decided to make a tender offer to the shareholders of TM, offering to acquire their shares in TM. The tender offer is a voluntary tender offer, in accordance with Act No. 33/2003. The tender offer is subject to the terms and conditions set forth in the Offering Document, dated 29 October 2007. The Offering Document is available at www.flgroup.is, and copies are available at the offices of the Manager, Glitnir banki hf., Kirkjusandur 2, 105 Reykjavík. The Offering Document contains an Acceptance Form, that shareholders shall sign and send as described in the Offering Document, if they decide to accept the Offer. The Offering Document is sent by regular mail to the shareholders of TM. The Offer is effective from 31 October 2007 and is valid for a period of four weeks.