Kaupthing Bank Luxembourg acquires Robeco Bank Belgium

Kaupthing Bank Luxembourg S.A., a subsidiary of Kaupthing Bank hf.,
has signed an agreement by which Kaupthing Bank Luxembourg S.A.
purchases Robeco Bank Belgium.

Robeco Bank Belgium is a small Belgian bank that was founded in 2002
and focuses mainly on private banking and asset management. The bank
has 32 employees and is based in Brussels and Antwerp. Robeco Bank
Belgium has 6,800 clients. At the end of August 2007, the part of
client's assets placed as deposits amounted to approximately EUR 300
million. This acquisition will have an insignificant effect on
Kaupthing Bank Luxembourg's operations.

Magnus Gudmundsson, Managing Director of Kaupthing Bank Luxembourg:"Robeco Bank Belgium represents a good strategic fit for Kaupthing
Bank Luxembourg. This acquisition is a logical step in building up
Private Banking offerings in the Benelux countries. By taking over
the activities of Robeco Bank we become immediately operational in
Belgium and will have a platform there for further growth."

The transaction is subject to the approval of the Luxembourgish and
the Belgian Financial Supervisory Authorities. The acquisition is
expected to be closed before year end.

For further information please contact:
Jónas Sigurgeirsson, Chief Communications Officer, tel +354-444 6112


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

The Bank operates in twelve countries, including all the Nordic
countries (Denmark, Faroe Islands, Finland, Iceland, Norway and
Sweden), Luxembourg, Switzerland, the UK, the US, Dubai and Qatar.
Based on Kaupthing's market capitalisation of EUR 9.9 billion as of
31 August 2007, the bank is currently the seventh largest bank in the
Nordic region. Through strong organic growth and strategic
acquisitions, such as the acquisition in Denmark of FIH Erhvervsbank
in 2004 and the acquisition of the UK-based bank Singer & Friedlander
in 2005, Kaupthing has successfully increased both the product and
geographic diversification of its operations. As of 30 June 2007 the
bank has 2,970 employees and total assets of EUR 54.3 billion.
www.kaupthing.com