SPRON Securities, a subsidiary of SPRON hf., has opened a branch in Berlin The principal role of the office is to offer advisory services and assist in investments in property and companies in Germany and neighbouring countries, thereby improving still further SPRON's services to Icelandic private and corporate investors. The new office will carry out its functions in co-operation with SPRON Securities' corporate advisory division in Iceland and Berlin. Kristján Gudmundsson has been appointed to SPRON Securities in Berlin, where he will lead the property investment activities. SPRON Securities' corporate advisory division, acting for the SPRON Investment Company and a group of Icelandic investors, recently concluded the acquisition of residential property in central Berlin valued at five and a half billion ISK. The investments involve 430 residential apartments on over 40,000 square metres in prime locations in Berlin, with SPRON's share at 35%. Gudmundur Hauksson, CEO of SPRON hf. and Chairman of the Board of SPRON Securities: “Opening an office in Berlin improves our ability to follow up on the investments that we have undertaken with our customers and to take advantage of the knowledge and experience that we have been building up in recent months and years. We can see further opportunities in this market, and we are also looking to the Baltic countries, as well as Central Europe, where the economic environment has been changing rapidly in recent years. Our sharpened focus on investment banking activities is in line with SPRON's strategy and enables us to offer our customers a more varied range of financial services.” For further information, please contact: Gudmundur Hauksson CEO of SPRON hf. and Chairman of the Board of SPRON Securities Tel: +354 550 1200 Örn Vidar Skúlason Head of the Corporate Advisory Division of SPRON Securities Tel: +354 550 1765