- One of Kaupthing Bank Luxembourg's two Managing Directors leaves the Bank

Johnie W. Brøgger, Managing Director of Kaupthing Bank Luxembourg, has left the
Bank at his own request, to pursue other interests. Johnie Brøgger has served
the Bank for nine years as Managing Director of Kaupthing Bank Luxembourg
alongside Magnús Gudmundsson. 

Hreidar Már Sigurdsson - CEO 
"Since Johnie Brøgger joined our business in Luxembourg he has played a vital
role in building it up to the successful bank that it is today. On behalf of
our Bank, I would like to thank him for his contribution and I wish him all the
best in his future endeavours." 

For further information: 
Jónas Sigurgeirsson, Chief Communication Officer, tel 354-444-6112 or
ir@kaupthing.com