HQ AB completes acquisition of Glitnir AB

PRESS RELEASE
Stockholm, October 22, 2008

HQ AB completes acquisition of Glitnir AB

As previously announced, HQ AB entered into an agreement with Glitnir banki hf
to acquire all the shares in Glitnir AB for a purchase price of approximately
SEK 60 million, to be paid in cash. HQ AB has today completed the acquisition
and taken ownership of Glitnir AB.

In conjunction with HQ's completion of the acquisition of the shares, Managing
Director Anders Holmgren has submitted his resignation. Lars Hamberg has been
appointed as the acting Managing Director of Glitnir AB.

”HQ is financially and operationally stable. Glitnir AB's core business is
growing and we see excellent potential in developing the specialist competence
of the employees in this area,” says Mikael König, Chief Executive Officer of
HQ.

For further information: 
Mikael König, CEO of HQ, Tel: +46 (0) 696 17 00 
Fredrik Crafoord, Deputy CEO HQ and Head of HQ Investment Banking, Tel: +46 (0)
696 17 00

HQ Bank AB explores, innovates and performs in order to improve wealth and
deliver financial success.

HQ Bank conducts operations within the business units Investment Banking and
Private Banking.

The company is represented in seven locations in Sweden and has its head office
in Stockholm
HQ Bank has around 250 employees.

The company is listed on the Swedish Mid Cap list of the OMX Nordic Exchange
(HQ).