Aktia Bank plc: Aktia and Kaupthing sign a letter of intent regarding Kaupthing's asset management operations in Finland

Aktia Bank plc Stock Exchange Release 31 October 2008 at 14 p.m.

Aktia Bank plc and the Finnish branch of Kaupthing Bank hf. have
signed on 31 October 2008 a letter of intent regarding the sale of
Kaupthing's asset management business in Finland. The planned
arrangement would involve transferring the subject operations as a
transfer of business to a part of Aktia Group."The letter of intent is important to Aktia Bank as it supports the
development objectives of institutional asset management and advisory
services. Kaupthing's asset management business in Finland has both a
good reputation and market position among institutional clients,"
says CEO Jussi Laitinen of Aktia Bank.

Laitinen continues by stating that the transaction would also bring
many very enthusiastic professionals to the Aktia team while
expanding the customer base of institutional clients.

The letter of intent is conditional and, among other matters, the
transaction is subject to the approval of the relevant public
authorities.


AKTIA BANK PLC


For further information, please contact:

Aktia Bank, Deputy CEO Robert Sergelius, tel. +358 10 247 6350

Kaupthing Finland, Country Director Lauri Rosendahl, tel. +358 9 4784
0301 or Kaupthing Asset Management Ari Korhonen, tel. 09 4784 0205


Issued by:
Malin Pettersson, Head of Corporate Communications, tel.  +358 10 247
6369


Distribution:
OMX Helsinki Stock Exchange, the media