Notification of majority shareholding - Baugur Group hf. in insolvent liquidation

Notification of majority shareholding - Baugur Group hf. in insolvent
liquidation 

TK Development has been notified that the shareholding in TK Development A/S
held by Baugur Group hf. in insolvent liquidation has been reduced to nil. 

The notification was received from two legally independent entities, Kaupthing
Bank hf. and Nýi Kaupthing Bank hf. 

Kaupthing Bank hf. has disclosed that it holds 293,020 shares in TK
Development, equal to 1.04 % of the share capital. Nýi Kaupthing Bank hf. has
disclosed that it holds 1,280,980 shares, equal to 4.57 % of the share capital. 

TK Development has been unable to obtain information about the exact date of
the share transfer. 



Further information is available from Robert Andersen, Executive Vice
President, on tel. +45 88 96 10 10.