Signing of agreements concerning issuance of Government securities and market making in the secondary market.

The Minister of Finance has assigned the Central Bank of Iceland the task of
concluding agreements concerning issuance and market making in Government
securities in the secondary market. 

Members of the OMX Nordic Exchange Iceland that have a minimum equity position
of 5,000 m.kr. as of year-end 2007 and are equipped to participate in auctions
of Treasury securities held by the Central Bank of Iceland on behalf of the
Treasury are invited to become parties to such agreements.  The Central Bank
intends to conclude agreements with five or more Exchange members, who will
become primary dealers. 

Primary dealers have the exclusive right to submit bids at Central Bank of
Iceland auctions, where Treasury securities are offered for purchase or sale. 
They also have access to securities lending facilities offered by the Central
Bank on behalf of the Treasury. 

Primary dealers will act as market makers for benchmark series of Treasury
notes and Treasury bills on the Exchange.  Primary dealers are obliged to
submit bid and ask quotes for a minimum of 100 m.kr. for each benchmark series
of Treasury securities in accordance with the maximum spread specified in the
agreements. 

Further information can be found in the accompanying sample agreement
concerning issuance of government securities and market making in the secondary
market.  Exchange members that wish to become primary dealers in Treasury
securities shall appear at the offices of the Central Bank of Iceland,
Kalkofnsvegur 1, Reykjavík, at 09:15 on Friday, May 23, 2008, in order to sign
the pertinent agreement. 

Further information can be obtained from Björgvin Sighvatsson, International
and Market Department, Central Bank of Iceland, at +354 569 9600.