Landsbanki Íslands hf
Press release -21 November 2008, Reykjavík
FIRST MEETING OF INFORMAL CREDITORS' COMMITTEE
The Chairman of the Resolution Committee of Landsbanki Íslands hf
("Old Landsbanki"), Mr Lárus Finnbogason, announced that the first
informal creditors' committee meeting (ICC) had been held on Friday
14th November, in Reykjavík, Iceland. The ICC is made up of
creditors and creditor's representatives of Old Landsbanki
representing the interests of different classes and types of
creditors.
The meeting discussed the background to Landsbanki's operations and
the circumstances leading up to action taken by the Icelandic
financial regulator (FME). Attendees were informed of actions being
taken by the Resolution Committee to both maximize long-term value
and protect assets for stakeholders and there was a discussion of the
way forward for Old Landsbanki to achieve the best long-term result
for stakeholders. Suggestions provided by creditors on strategy,
structure and direction forward were received by the Resolution
Committee and will be communicated to the FME.
Further information about the ICC including contents of the meeting
will be made available at. http://www.landsbanki.is/oldlandsbanki/.
The Resolution Committee looks forward to working closely with the
ICC towards a solution that maximises recovery for all stakeholders.
For and on behalf of The Resolution Committee of Old Landsbanki
Landsbanki Resolution Committee meets with creditors
| Source: Landsbanki Íslands hf.