Landsbanki presents Q2 2008 financial results on 29 July at 4pm UK

Landsbanki announced its second quarter financial results prior to
market opening on today, 29 July 2008. Highlights can be found below
and attached is the Q2 2008 results presentation and a corrected
version of the Q2 2008 Press Release. All presentation material, plus
a replay of the webcast and a podcast of the telephone conference,
will subsequently be available and archived on www.landsbanki.com/ir
under reports and financials.

Presentation in London 29 July
Mr Sigurjón Þ. Árnason and Mr Halldór J. Kristjánsson, joint CEOs of
Landsbanki, will present Landsbanki's Q2 2008 results to analysts and
investors, followed by a Q&A session. Conducted in English, the
presentation will be available live on www.landsbanki.com/ir, where
relevant data and presentation material will be posted
simultaneously.

Time: 4 pm UK (3 pm GMT and 5 pm CET)
Venue:  Beaufort House 15 St Botolph Street, London EC3A 7QR
Registration: Due to strict and time-consuming security controls
please make sure to complete your registration on
http://www.landsbanki.is/english/registration/q22008results

Live webcast and Conference call
For those who wish to join the meeting remotely, a webcast of the
presentation can be accessed on www.landsbanki.com/ir. A dial-in will
also be available - if you wish to participate please call +44 (0)
1452 569 103 at least 10 minutes prior to the start.

Presentation in Reykjavík 29 July
Mr Sigurjón Þ. Árnason and Mr Halldór J. Kristjánsson, joint CEOs of
Landsbanki, will present Landsbanki's Q2 2008 results to analysts and
investors, followed by a Q&A session. The presentation will be held
at 8.30 am on Tuesday, 29 July, at Hilton Nordica Hotel in Reykjavík.


Highlights of the Interim Financial Statements of Landsbanki Íslands
hf.
for the first six months of 2008


*          Pre-tax profit for the first six months of 2008 amounted
  to ISK 31.1 billion (EUR 285m) The bank's after-tax profit was ISK
  29.5bn (EUR 270m).
*          After-tax ROE was 35%. At the end of June 2008, the Bank's
  capital ratio (CAD rules) was 10.3%.
*           The group's core income (net interest income plus fees
  and commissions) was ISK 58bn (EUR 531m), an increase of close to
  32% over 6M 2007.
*          Core income from operations outside of Iceland amounted to
  ISK 33.9bn (EUR 310m) during the first half of 2008, equivalent to
  59% of group core income.
*           Trading gains and investment income amounted to ISK
  19.8bn (EUR 181m), compared to the 6M 2007 figure of ISK 14.8bn.
*          The bank's total assets amounted to ISK 3,970bn (EUR
  31.9bn) at the end of June 2008 compared with ISK 3,058bn (EUR
  33.4bn) at the beginning of 2008. Total assets have decreased in
  EUR terms by 4.4% during H1 2008.
*          The bank's liquidity has continued strong, with liquid
  assets amounting to EUR 7.8bn at the end of June 2008.

Highlights of Q2 2008:
*           The bank's after-tax profit in Q2 2008 was ISK 12.0bn
  (EUR 101m).
*           Net interest income in Q2 were ISK 20.9bn (EUR 176m).
*          Net fees and commissions were ISK 10.9bn (EUR 92m), the
  same figure as in Q1 2008. The bank's fees and commissions were at
  a record high in both these quarters.


CEO Sigurjón Þ. Árnason:"Landsbanki's H1 financial results are  very satisfying. This is  not
least significant in view of the challenging circumstances prevailing
on international  financial  markets.  The group's  core  income  has
increased by 32% over the  first half of last  year, and ROE for  the
same period was 35%. Landsbanki took a major step forward in Q2  when
announcing  the  extension  of  its  internet  savings  platform   to
continental Europe,  with  the  introduction of  the  Icesave  retail
deposit programme  in the  Netherlands. There  are now  over  350,000
Icesave accounts  in the  UK and  the Netherlands,  and over  50%  of
Icesave UK deposits are now  term deposits. Landsbanki will  continue
to augment  the share  of deposits  in its  funding. The  operational
platform of Icesave in  Netherlands is designed  to be both  flexible
and robust, facilitating  its adaptation to  other selected  European
markets in the coming months."

CEO Halldór J. Kristjánsson:"The Icelandic  economy  is  returning  to  balance  after  years  of
impressive growth.  Developments in  H1 reflect  this adjustment,  in
particular the  revaluation  of the  ISK  and a  temporary  inflation
spike.  By  taking  long  positions  on  both  foreign  currency  and
inflation, Landsbanki  has limited  the negative  impact of  currency
depreciation  on  its  equity  ratio  and  balance  sheet.  Icelandic
households are  partly  sheltered  against short  term  effects  from
rising inflation,  as typical  mortgages  carry fixed  real  interest
rates. The  fact that  the lending  growth of  the largest  Icelandic
banks  has  been  mainly  abroad,  or  to  domestic  corporates  with
international  exposure,  also   reduces  the   impact  of   currency
depreciation.

The Icelandic economy is anchored in sectors not negatively  impacted
by  the  current  market  downturn,  such  as  food  production   and
technology as well as  environmentally sustainable power  generation.
New power intensive projects have increased Iceland's export capacity
and  will   facilitate   ongoing   economic   adjustment.   Increased
profitability of exploiting abundant energy resources encourages  FDI
into  energy  intensive   industry  development.  Additional   energy
production will  increase  the  level  of  GDP  by  around  4%,  0.8%
additional GDP growth annually for a period of 5 years."

For further information:
Landsbanki - Tinna Molphy, Head of Investor Relations,
ir@landsbanki.is and tel: +354 410 7200 / mob: +354 861 1440.
Media Relations - Andrew Walton, Financial Dynamics, tel: +44 20 7269
7204 / mob: +44 7711 264 157.