Following Kaupthing Bank's announcement on 19 March 2008 of its decision not to collect payment for the subscriptions received in the Skipti hf. offering and to cancel all subscriptions which remain unpaid before 4 p.m. on 26 March 2008, 3 subscribers have notified Kaupthing Bank hf. that they do not intend to pay for their subscriptions and these subscriptions have therefore been cancelled. Kaupthing Bank hf. holds 1,795,375,635* shares in Skipti hf., which represents 24.37% of Skipti hf.'s total share capital. * 150,602,409 shares, which represent 2.04% of the total share capital of Skipti hf., were registered to Kaupthing Bank due to forward contracts with clients who have cancelled their subscriptions. The shares are now owned by Kaupthing Bank.