The Board of Directors of SPRON has decided to work towards the merger of it's subsidiaries, Frjálsi Investment Bank and SPRON securities, with the parent company SPRON. The merger is a part of the operational restructuring of SPRON which has been ongoing in the past few months. The aim of the restructuring is to reach the level of efficiency necessary under the challenging circumstances now facing the Icelandic economy. Netbankinn hf., SPRON‘s internet banking subsidiary, will continue to operate as an independent subsidiary. For further information: Guðmundur Hauksson, CEO, tel: +354 550 1200 Valgeir M. Baldursson, CFO, tel: +354 550 1200