GLITNIR ACQUIRES 68.1 PERCENT OF FIM GROUP IN FINLAND

FIM GROUP OYJ STOCK EXCHANGE RELEASE MARCH 16, 2007 AT 06.45 p.m.

GLITNIR ACQUIRES 68.1 PERCENT OF FIM GROUP IN FINLAND

Not for release, publication or distribution in the United States, Canada, Japan or Australia.

Based on to the agreements entered into between Glitnir banki hf. and the 11 main shareholders of FIM Group Corporation on 5 February 2007, Glitnir banki hf. today aquired 68.1 percent of the shares in FIM Group Corporation in Finland on terms announced on February 5th 2007. Glitnir now has the obligation pursuant to the Finnish Securities Market Act to make a mandatory tender offer for the rest of the shares and options in FIM.

Glitnir plans to launch the mandatory tender offer in early April. Glitnir will release a stock exchange release containing more detailed information on the public offer period and other conditions prior to the commencement of the offer period.

– We are very pleased that this transaction is completed and we are moving forward as planned with remaining aspects of the acquisition. We anticipate to submit the tender offer before Easter after the offer documents have been completed and approved by the relevant authorities, comments Bjarni Ármannsson, CEO of Glitnir.

FIM held its Annual General Meeting of shareholders in Helsinki Thursday March 15. According to resolution on the Annual General Meeting Bjarni Ármannsson, Frank Ove Reite, Sverrir Örn Thorvaldsson, Niklas Geust and Vesa Honkanen will be the members of FIM’s Board of Directors starting from the transfer of the ownership.

For further information on Glitnir, please contact:
Bjørn Richard Johansen, Managing Director, Corporate Communications, Glitnir, mobile +47-47 800 100, e-mail: brj@glitnir.no
Vala Pálsdóttir, Head of Investor Relations, mobile: +354 844 4989,
e-mail: vala.palsdottir@glitnir.is

For more information: www.glitnirbank.com and www.fim.com
Press release from 05.02.2007, “Glitnir acquires majority in the listed FIM Group in Finland”: http://www.glitnir.is/English/AboutGlitnir/News/?ItemId=967

FIM Group Corporation

Risto Perttunen
CEO


For additional information, contact:
Risto Perttunen, CEO
+358 (0)9 613 46 303
risto.perttunen@fim.com

Timo T. Laitinen, CFO
+358 (0)9 613 46 525
timo.laitinen@fim.com


Distribution:
Helsinki Stock Exchange
Principal media
www.fim.com.

DISCLAIMER

These materials are not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The issuer of the shares has not registered, and does not intend to register, any portion of the offering in the United States and does not intend to conduct a public offering of shares in the United States.

This document is not a prospectus and as such does not constitute an offer to sell or the solicitation of an offer to purchase shares or rights to subscribe for shares. Investors should not subscribe for any shares or rights referred to in this document, or tender any shares, except on the basis of the information contained in a prospectus or tender offer document.

This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). The shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

Offers will not be made directly or indirectly in any jurisdiction where prohibited by applicable law and any offer documents and related acceptance forms will not and may not be distributed, forwarded or transmitted into or from any jurisdiction where prohibited by applicable law. In particular, the rights offering and the tender offer will not be made, directly or indirectly, in or
into, or by use of the mails of, or by any means of instrumentality (including without limitations, mail, facsimile transmission, e-mail or telephone) of interstate or foreign commerce of, or any facilities of a national securities exchange of the United States, Canada, Japan or Australia.