- The offering of structured covered bonds is closed



Kaupthing Bank hf. announces the results of the offering of
structured covered bonds on 27 June 2008. Offers for a total nominal
value of ISK 6.2 billion were received.  Accepted offers for
structured covered bonds:

- KAU CB1 for a nominal value of ISK 0.4 billion, with a weighted
average yield of 5.30%
- KAU CB2 for a nominal value of ISK 4.4 billion, with a weighted
average yield of 5.17%

The settlement date is 2 July 2008.

For further information please contact Ólöf Hildur Pálsdóttir, Deputy
Head of Investor Relations, tel. +354 444 6112 or ir@kaupthing.com.