Glitnir Finland acquired by the company's management

Reykjavík, 14 October 2008 - Glitnir Corporation ("Glitnir Finland"),
a wholly owned subsidiary of Glitnir banki hf., has been acquired  by
Glitnir Finland's management. This decision comes as a conclusion  of
discussions that have  taken place  between the parties,  as well  as
with the Finnish  Financial Supervision Authority,  and is done  with
their understanding. The seller and the buyer have agreed to keep the
acquisition consideration confidential.  Glitnir Finland is  expected
to be renamed under the FIM brand.


Further information:

Glitnir Iceland
Sigrun Hjartardottir, Head of Investor Relations, tel. +354 440 4748,
mobile +354 844 4748,
E-mail: sigrun.hjartardottir@glitnir.is

Glitnir Finland
Johannes  Schulman,   CEO,   tel.   +358   9   6134   6557,   E-mail:
johannes.schulman@glitnir.fi