New Managing Director of Kaupthing Norway

Inger Lise Egeland has been appointed as the new Managing Director of
Kaupthing Norway. Inger Lise joined Kaupthing in 2006 as Managing
Director of Banking in Norway. Previously she worked for Aker ASA
where she was Senior Vice President of Finance. Mark Carey has been
appointed as Deputy Managing Director of Kaupthing Norway, and he
will be also responsible for Capital Markets in Norway.

Jan Petter Sissener, Managing Director of Kaupthing Norway and Global
Head of Equities at Kaupthing Bank, has decided to leave the Bank for
personal reasons. His resignation will take effect immediately. Jan
Petter joined Kaupthing in 2005 as Managing Director of Kaupthing
Norway and later also assumed the role of Global Head of Equities.

Hreidar Már Sigurdsson CEO of Kaupthing Bank"I congratulate Inger Lise Egeland and Mark Carey on their promotions
and I'm confident that, with their experience and abilities, they are
the right people to take the Norwegian business forward. Jan Petter
Sissener has played an important role in transforming our business in
Norway into a full scale bank and recently he has also focused on
strengthening our Global Equity business. I would like to thank him
for his contribution and I wish him all the best in his future
endeavours."

Further information:
Jónas Sigurgeirsson, Chief Communications Officer, tel +354-444 6112
or ir@kaupthing.com


About Kaupthing Bank
Kaupthing Bank offers comprehensive commercial and investment banking
services to individuals, companies and institutional investors. The
Bank is a leading player in all the main areas of the Icelandic
financial market, and in addition to Iceland, the Bank's key markets
are Denmark and the United Kingdom. The Bank focuses on the growth
and development of its international activities and aims to be one of
the leading investment banks in northern Europe.

Kaupthing Bank operates in thirteen countries with its headquarters
located in Reykjavík. The Bank's main subsidiaries are FIH
Erhvervsbank in Denmark, Kaupthing Singer & Friedlander in the United
Kingdom, Kaupthing Bank Sverige, Kaupthing Bank Luxembourg, Kaupthing
Bank in Finland, Norvestia Oyj in Finland, Kaupthing New York,
Kaupthing Switzerland, Kaupthing Bank Belgium and Kaupthing Bank
Norge in Norway. The Bank also has activities in Isle of Man, the
United Arab Emirates (Dubai) and Qatar. As of 31 December 2007 the
number of full-time equivalent positions was 3,334 at Kaupthing Bank
and its subsidiaries. www.kaupthing.com