The Icelandic Competition Authority approves the merger of Kaupthing and SPRON

The Icelandic Competition Authority has today approved the merger of
Kaupthing Bank hf. and the Reykjavik Savings Bank hf. (SPRON),
without conditions. The merger is however still subject to the
approval of the Icelandic Financial Supervisory Authority, cf. press
release from July 1.


For further information please contact:
Jónas Sigurgeirsson, Chief Communications Officer, tel. + 354 444
6112 or ir@kaupthing.com


About Kaupthing Bank
Kaupthing Bank is a Northern European bank offering integrated
financial services to companies, institutional investors and
individuals. These services include corporate and retail banking,
investment banking, capital markets services, treasury services,
asset management and comprehensive wealth management for private
banking clients.

The Bank operates in all the Nordic countries, as well as an
ever-growing number of countries throughout Europe, the Middle East
and the United States. www.kaupthing.com