The Annual General Meeting of Kaupthing Bank hf. will be held on Friday 7 March 2008 at 17:00, at Hilton Reykjavik Nordica, Sudurlandsbraut 2, 108 Reykjavík. Agenda 1. The report of the Board of Directors on the activities of the Bank in the preceding operating year. 2. The annual accounts of the Bank for 2007 and the Auditor's report presented for ratification. 3. Proposal on payment of dividends and the disposal of the Bank's profit during the preceding accounting year. 4. Proposals on the following amendments to the Articles of Association of the Company: a. That Article 4, Paragraph 1 be amended to allow the Board of Directors to decide to denominate the Bank's share capital in euros instead of Icelandic krónas and make necessary changes to the Articles of Association in connection with that. b. That a new Paragraph will be added as Paragraph 5 of Article 4, granting the Board an authorisation to issue convertible bonds up to a maximum amount equivalent to EUR 1,500,000,000 or, according to circumstances, guarantee the issue and payment of such convertible bonds, which would be issued by one of the Company's subsidiaries, with the terms that such debt could be converted into shares in Kaupthing Bank. The Board of Directors will furthermore be authorised, as required, to increase the share capital of the Company by up to ISK 1,750,000,000 at nominal value through the subscription for up to 175,000,000 new shares to meet the obligations of the Company pursuant to the convertible bonds. The current shareholders waive their pre-emptive rights to the new shares. The Board of Directors shall otherwise decide on the terms of the issue of the convertible bonds and the increase of the share capital, as well as the stages in which the authorisation is exercised. The Board of Directors shall furthermore be authorised to make the necessary amendments to the Company's Articles of Association in relation to the issue of the convertible bonds or the subsequent increase of the Company's share capital. 5. Proposal of the Board of Directors on a remuneration policy. 6. Elections to the Board of Directors for the term of one year. 7. Determination of the remuneration of the Board of Directors. 8. Election of an Auditor or auditing firm for the next accounting year. 9. A proposal for the renewal of the Company's authority to purchase or take as collateral its own shares. 10. Other business. The meeting will be held in English. The deadline to declare candidacy for election to the Board of Directors expires on Friday 29 February 2008 at 12.00 noon GMT. Declarations of candidacy should be submitted in writing to Kaupthing Bank hf. c/o the Chairman of the Board, Borgartún 19, 105 Reykjavik, Iceland, before that time, with information on the candidate as required by Icelandic law on Public Limited Companies. Shareholders whose shares are registered in the Swedish VP-system in the name of a nominee through the trust department of a bank or similar institution must, in order to be entitled to participate in the Meeting, request that their shares be temporarily re-registered in their own names in the register of shareholders maintained by VPC. Such registration must be effected on Wednesday, 5 March 2008. Shareholders are requested to inform their nominees well in advance of this date. Shareholders who are unable to attend the meeting can exercise their voting rights electronically. Further information on electronic voting can be found at the bank's website www.kaupthing.com/ir. Ballot papers and other material will be distributed at the entranceprior to the meeting. The Board of Directors of Kaupthing Bank hf. About Kaupthing Bank Kaupthing Bank offers comprehensive commercial and investment banking services to individuals, companies and institutional investors. The Bank is a leading player in all the main areas of the Icelandic financial market, and in addition to Iceland, the Bank's key markets are Denmark and the United Kingdom. The Bank focuses on the growth and development of its international activities and aims to be one of the leading investment banks in northern Europe. Kaupthing Bank operates in thirteen countries with its headquarters located in Reykjavík. The Bank's main subsidiaries are FIH Erhvervsbank in Denmark, Kaupthing Singer & Friedlander in the United Kingdom, Kaupthing Bank Sverige, Kaupthing Bank Luxembourg, Kaupthing Bank in Finland, Norvestia Oyj in Finland, Kaupthing New York, Kaupthing Switzerland, Kaupthing Bank Belgium and Kaupthing Bank Norge in Norway. The Bank also has activities in Isle of Man, the Dubai International Financial Centre (DIFC) and the Qatar Financial Centre (QFC). As of 31 December 2007 the number of full-time equivalent positions was 3,334 at Kaupthing Bank and its subsidiaries. www.kaupthing.com
Annual General Meeting
| Source: Kaupthing Bank