The Moratorium of Kaupthing Bank has been extended until 13 November 2009

The District Court of Reykjavík today agreed to a request from the
Resolution Committee of Kaupthing Bank for the extension of the
moratorium on payments until 13 November 2009.

Mr. Olafur Gardarsson, Attorney to the Supreme Court of Iceland,
chaired a meeting of the bank's creditors on 5 February. At the
meeting a report was presented on developments at the bank since it
requested the intervention of the Icelandic Financial Supervisory
Authority on 9 October 2008. Details of the bank's finances and a
preliminary assessment of the bank's assets as of 15 November 2008
were also given.  Information distributed at the meeting along with
meeting minutes is available on the bank's website,
www.kaupthing.com. The Moratorium Supervisor announced his and the
Resolution Committee's proposal that an application will be made to
extend the moratorium by nine months at the next hearing of the
Reykjavik District Court.

One of the main tasks of the Resolution Committee and its employees
has been to protect assets and safeguard the interests of creditors
as far as possible. In the opinion of the Resolution Committee and
the Moratorium Supervisor it is crucial that Kaupthing be given the
breathing space to concentrate on the tasks at hand within the bank
so that it can achieve its objectives to protect creditors'
interests, maximise the recovery rate of claims and ensure the equal
treatment of creditors.

The bank intends to compile a monthly report for creditors which will
be available on the bank's website, www.kaupthing.com, so that
creditors and other interested parties can keep abreast of the main
developments and achievements since the previous report was issued.

For further information please contact:
Name: Steinar Thor Gudgeirsson, Chairman of the Resolution Committee
of Kaupthing Bank hf.
E-mail address: steinar@icelaw.is
Further information on Kaupthing Bank can be found on the bank's
website, www.kaupthing.com