The following proposals  submitted to the  Annual General Meeting  of
Straumur-Burdaras Investment Bank hf., on Tuesday 15 April 2008, were
approved.

Submission of the annual accounts  of the Company, together with  the
auditor's report, for approval

The Company's annual accounts and the auditor's report were approved.

Decision on the disposal of the Company's earnings in the  accounting
year

It was approved to pay EUR 48.9 million in dividends to shareholders.
The dividend corresponds to  30% of the  Company's earnings for  2007
after taxes  and approximately  EUR 0.0047  per share.  The  dividend
shall  be   paid  to   shareholders  in   the  form   of  shares   in
Straumur-Burdaras Investment Bank hf. on 13 May 2008 and the price of
the shares shall  take account  of average  price of  trading in  the
Bank's shares on  the day of  the AGM  and the Euro  rate shall  take
account of the Central Bank  of Iceland's official exchange rate  for
Euro on that  same day.  The record  date is  18 April  2008 but  the
ex-date is 16 April 2008. The remainder of the year's earnings  shall
be accrued to the Bank's equity.

Decision on remuneration to the members of the Board of Directors for
the next year of operation and of the Auditor for the preceding  year
of operation

The following remuneration to the  members of the Board of  Directors
for the coming operating year was approved:

Chairman of the Board, EUR 9,300 per month;
Vice-chairman of the Board, EUR 6,200 per month;
Other members of the Board, EUR 3,100 per month;
Alternate members of the Board, EUR 850 per meeting attended;
Board members  participating in  Board  sub-committees, EUR  850  per
meeting attended.

Further, it was approved that the remuneration to the Bank's auditors
for the preceding operating year should be paid according to invoice.

Proposal on the Company's remuneration policy

The  Company's  remuneration  policy,  submitted  by  the  Board   of
Directors pursuant to Article 79 of the Companies Act No. 2/1995,  as
amended, was approved. (See attached file.)

Elections to the Board of Directors

The following candidates were elected to the Board of Directors:

Board Members:
Björgólfur Thor Björólfsson, id. no.190367-3749, London, United
Kingdom
Birgir Már Ragnarsson, id. no. 020574-5699, London, United Kingdom
Guðmundur Kristjánsson, id. no. 220860-4429, Granaskjól 64, 107
Reykjavík
Friðrik Hallbjörn Karlsson, id. no. 180366-4909, Bjarmaland 23, 108
Reykjavík
James Leitner, New York, USA

Alternates:
Edgar Alden Edmonds, New York, USA
Vilhjálmur Þorsteinsson, id. no. 301265-5309, Baugatangi 6, 101
Reykjavík
Heiðar Már Guðjónsson, id. no. 220472-3889, London, United Kingdom
Jóhann Páll Símonarson, id. no. 110451-3939, Stakkhamrar 4, 112
Reykjavík
Þórunn Guðmundsdóttir, id. no. 090757-4319, Laugavegur 61, 101
Reykjavík

Election of an auditor or auditing firm

KPMG hf. was reelected as the Company's auditor for the year 2008.

Proposals on amendments of the Articles of Association of the Company

The following proposals on amendments of the Articles of  Association
of the Company were approved:

(a)  The second sentence of  Article 3 to be amended by  substituting
the word "banks" for the words "investment banks".

(b)  A new article, Article 15(a), to be inserted, as follows:  "Each
shareholder has the right to speak at shareholders' meetings. In  the
event that  the Board  of Directors  has made  a decision  to hold  a
meeting partially by electronic means, shareholders so  participating
in the  meeting  should submit  questions  concerning the  agenda  or
submitted documents etc. in connection with the meeting no later than
five days prior to the meeting."

(c)  A new paragraph to be inserted following paragraph 2 of  Article
18, as follows: "The Board of Directors may resolve that shareholders
should be  permitted  to  participate  by  electronic  means  in  the
proceedings of shareholders' meeting, including voting, without being
present at the venue  of the meeting.  However, shareholders must  be
permitted to vote on items of business on the agendas of shareholders
by mail or electronically."

(d)   The word  "working" in  the third  sentence of  paragraph 1  of
Article 19 to be deleted.

Proposal for renewed authorisation for  the Company to buy shares  in
itself.

It was approved to renew the authorisation of the Board of  Directors
pursuant to Article 8 of the Company's Articles of Association to own
and accept as security shares in itself pursuant to the provisions of
Chapter VIII of  Act No.  2/1995 on limited  liability companies  and
Article 29  of  Act  No. 161/2002  on  financial  undertakings.  This
authorisation shall be effective for 18 months, with the  restriction
that the total shares so acquired or accepted as collateral shall not
exceed 10%  of  the  total shares  in  the  Bank at  each  time.  The
purchasing price shall at  a maximum amount to  20% over the  average
selling price  of shares  in the  Company posted  in the  OMX  Nordic
Exchange in Iceland hf. in  the two weeks preceding the  acquisition.
With the  approval of  this proposal,  the earlier  authorisation  to
purchase the Company's  own shares,  which was approved  at the  last
Annual General Meeting, shall expire.

                                 ---

Company's Board Meeting was held following the Annual General Meeting
where  responsibilities  were  allocated  and  Mr.  Björgólfur   Thor
Björgólfsson was elected  chairman of  the Board and  Mr. Birgir  Már
Ragnarsson was elected vice-chairman of the Board.