Ágúst Hrafnkelsson has been appointed Chief Audit Executive of Glitnir. Mr. Hrafnkelsson graduated with the degree of Cand. Oecon. from the University of Iceland in 1989, completed his certification examination as a securities broker in 2001, became accredited as a Certified Bank Auditor in 2002, and as a Certified Internal Auditor in 2004. Mr Hrafnkelsson worked at Landsbanki from 1988 to 2003, holding positions in the International Banking Division, as Head of Information Technology, Head of Performance Management, Head of the Assets Division and Chief Audit Executive. He was Chief Auditor for the City of Reykjavík in 2003 to 2006, and has been employed over the past year at the Kaupthing Internal Audit Department. Ágúst is married to Helga Stefánsdóttir, and they have two children. Ágúst will take up his post in the coming weeks. At the same time, Helga Harðardóttir, Chief Audit Executive from 2006, will leave Glitnir at her own request and rejoin KPMG in Iceland.