- Straumur's presentation to its financial creditors

On 9 March 2009 the Icelandic Financial Supervisory Authority (“FME”) appointed
a Resolution Committee for Straumur Burdaras Investment Bank hf.
(“Straumur/”the Bank”). On 19 March the District Court of Reykjavík granted the
Bank an authorisation for a Moratorium Process until 11 June 2009. 

Straumur is currently facilitating the Bank's operational and financial
restructuring in co-operation with the Bank's creditors. 

The FME's decision on the disposal of the Bank's Icelandic deposit obligation
to Íslandsbanki hf. included Straumur issuing a collateralized bond on its
available assets in consideration of the transfer. 

The attachment provides the Bank's Management overview of the Bank's position
and will be introduced to the Bank's financial creditors. 

It should be noted that the Moratorium Assistant is not involved in the
abovementioned presentation and it is not a part of the Statutory Moratorium
Process. The attached should not be regarded as an audited financial statement. 
  
For further information

Georg Anderssen 
Corporate Communications 
Tel; 354 585 6707
georg@straumur.com
www.straumur.com