Exista hf., ID no. 610601-2350, Ármúli 3, Reykjavík, (“Exista”) and the Board of Directors of Skipti hf., ID no. 460207-0880, Ármúli 25, Reykjavík, (“Skipti”) have decided that other shareholders in Skipti shall be subject to redemption of their shares, pursuant to Article 110, paragraph 1, of Act No. 108/2007 on Securities Transactions. Exista and its subsidiary companies own in total 99.22% of the share capital of Skipti and have corresponding voting rights. This redemption applies to all other shareholders in Skipti who are listed in the shareholders register at the end of the day of 2 June 2008. This notification has been sent to those shareholders and it is also being published in daily newspapers in accordance with Skipti's Articles of Association on convening annual general meetings, cf. Article 110, paragraph 1, of Act No. 108/2007. Shareholders in Skipti, whom are subject to the redemption, are encouraged to transfer their shares in Skipti to Exista within four weeks of the date of this notification. The redemption price is ISK 6.64 for each share in Skipti. The shares will be paid for with shares in Exista whereby each share in Exista is priced at ISK 10.1. This is the same price and compensation that Exista offered shareholders in Skipti in its takeover bid on 26 May 2008. Payment will be made on 2 July 2008. In order to transfer their shares in Skipti to Exista, shareholders must ll in the share transfer form which has been sent to shareholders along with this notication. The completed form must then be sent to the Investment Banking division of Kaupthing Bank hf., Borgartún 19, 105 Reykjavík, before 12:00 (Icelandic time) on Wednesday 2 July 2008. If the shares in Skipti have not been transferred to Exista, in accordance with the above, the value of the Skipti shares, i.e. shares in Exista, will be transferred into the custody account where the relevant shareholder's shares are kept in custody. From that time Exista will be considered the rightful owner of the shares in Skipti, cf. Article 110, paragraph 2, of Act No. 108/2007. Kaupthing Bank hf. is managing the redemption on behalf of Exista. For further information, please contact the Bank's nancial consultants, tel. (+354) 444-7000. Please note that Kaupthing Bank hf. is under no obligation to assess whether the transactions related to the redemption are appropriate for the shareholders and they do not therefore enjoy the protection involved in such assessment according to Article 16 of Act No. 108/2007. Shareholders are advised to seek specialist advice on this transaction.