The financial services group Exista hf. announced today, that the group has decided to vote for share capital increase and a rights issue in Storebrand ASA, to finance the proposed acquisition of SPP Livforsäkring AB, in Storebrand's extraordinary general meeting on the 24th of October. Exista currently holds 8.5% of the share capital in Storebrand. Exista intends to sub-underwrite a part of the rights issue which could result in Exista holding 9.9% of Storebrand's share capital after the increase. Lydur Gudmundsson, Executive Chairman of Exista: “Following the acquisition of SPP, Storebrand will become the leading life insurance and pension provider in the Nordic region. We believe the acquisition opens up new opportunities for the company. Our decision to participate in the rights issue entails that we see Storebrand as a longer term holding.” Enquiries: Exista hf. Sigurdur Nordal Managing Director Group Communications ir@exista.com +354 550 8620 / +354 860 8620 About Exista Exista is a financial services group with operations in the areas of insurance, asset finance and investments. The company is a leading insurance underwriter in Iceland, as well as being the country's largest provider of asset finance products. As an international investor, Exista has strategic holdings in several companies, including Sampo Group, Kaupthing Bank, Bakkavör Group, and Skipti (Iceland Telecom). As of 30 June 2007, Exista's total assets amounted to EUR 7.7 billion. Exista is listed on the OMX Nordic Exchange in Iceland and its shareholders number over 30 thousand. Information on Exista can be found on the group's website: www.exista.com