Major shareholder announcement 6 December 2007

| Source: Kaupthing Bank Kaupthing Bank 

Name of party notifying: Gnúpur Fjárfestingafélag hf.

Address of the party notifying: Laugavegur 182, 105 Reykjavík

Date of transaction: 6.12.2007

Number of shares in transaction: 4,603,687

Number of shares before the transaction: 39,733,238

Number of shares after the transaction: 35,129,551

Holdings of total nominal value  before the transaction %: 5.37%

Holdings of total nominal value after the transaction %: 4.74%

Additional information:
The stake is being sold to one of Gnupur's shareholders Smáey ehf,
controlled and owned by Magnus Kristinsson.  Gnupur's shareholders
are: Brekka Investment Company (held by Thordur Mar Johannesson):
5.6% - Companies controlled and owned by Magnus Kristinsson (Smáey,
Suðurey) Total: 43.7%, - Companies controlled and owned by Kristinn
Björnsson & family (Eignarhaldsfélagið SKE-II and Eignarhaldsfélagið
SK-II) Total: 43.7% and BK-42 ehf. (held by Birkir Kristinsson) 7.0%