Exista hf.'s (“Exista”) takeover bid made to the shareholders of Skipti hf. (“Skipti”), which commenced on 31 March, expired yesterday, Monday 26 May, at 4pm as stated in Exista's public offer document from 27 March 2008. The takeover bid was accepted by shareholders holding 4,225,224,096 shares in Skipti, which represents 56.32% of the total share capital of the company. Prior to the bid Exista held 43.68% of the share capital of Skipti through its subsidiaries, Exista B.V., Vátryggingafélag Íslands and Líftryggingafélag Íslands, or 42.90% taking into account Skipti's share capital increase on 31 March 2008 in connection with the company's acquisitions of Sensa ehf. and Anza ehf. Exista has therefore secured 99.22% of the share capital of Skipti and will hold corresponding voting rights in the company when the takeover bid has been settled. Shareholder who accepted the bid will receive the payment no later than 2 June 2008, in accordance with the terms of the bid. Exista will ask the board of directors of Skipti to accept that other shareholders of Skipti shall be subject to redemption of their shares as soon as possible. Enquiries: Exista hf. Sigurdur Nordal Managing Director Group Communications tel: +354 550 8620 ir@exista.com About Exista Exista is a financial services group with operations in the areas of insurance, asset finance and investments. The company is a leading insurance underwriter in Iceland, as well as the country's largest provider of asset finance products. As an international investor, Exista has strategic holdings in several companies, including Sampo Group, Kaupthing Bank, Bakkavör Group, Storebrand and Skipti (Iceland Telecom). Exista is listed on the OMX Nordic Exchange in Iceland, and its shareholders number around 30,000. Information on Exista hf. can be found on the Group's website: www.exista.com.
Results of a bid made to shareholders of Skipti: Exista with more than 99% of the share capital
| Source: Exista hf.