Moody's places Kaupthing covered bonds rating on review for possible downgrade

Moody's Investors Service has placed Kaupthing's Aaa rated covered
bonds on review for possible downgrade. The rating action follows
Moody's decisions to review for possible downgrade Kaupthing's A1
long-term rating, P-1 short-term rating and C- bank financial
strength rating ("BFSR").


Further information:
Jónas Sigurgeirsson - Chief Communications Officer, +354 444 6112.

About Kaupthing Bank
Kaupthing Bank is a Northern European bank offering integrated
financial services to companies, institutional investors and
individuals. These services include corporate and retail banking,
investment banking, capital markets services, treasury services,
asset management and comprehensive wealth management for private
banking clients.

The Bank operates in all the Nordic countries, as well as an
ever-growing number of countries throughout Europe, the Middle East
and the United States.
www.kaupthing.com