GLITNIR BANKI HAS A REDEMPTION RIGHT TO THE MINORITY SHARES IN FIM

FIM GROUP CORPORATION Stock Exchange Release 16 August 2007

GLITNIR BANKI HAS A REDEMPTION RIGHT TO THE MINORITY SHARES IN FIM

The Arbitral Tribunal appointed by the Redemption Committee of the Central Chamber of Commerce has today confirmed that Glitnir banki hf (Glitnir) has a right to redeem the minority shares of FIM Group Corporation and that Glitnir has the right to obtain the title to the minority shares by depositing a security approved by the Arbitral Tribunal for the payment of the redemption price.

Glitnir has notified that it will deposit the required security as soon as possible.

Information on the depositing of the security and measures relating thereto, as well as matters relating the termination of trading will be released separately.

FIM GROUP CORPORATION

For additional information,
please contact:


Pekka Väisänen, CEO and Country Manager of Glitnir in Finland, effective after delisting of FIM, tel. +358 9 6134 6343
Risto Perttunen, CEO, tel. +358 9 6134 6303
Mari Tyster, Head of legal and compliance, tel. +358 9 6134 6416
Anssi Partanen,
Corporate Communication Manager
tel +358 9 6134 6429

Distribution:
Helsinki Stock Exchange
The main media
www.fim.com

FIM is a growing investment services group that offers asset management, brokerage and investment banking services for private individuals and organizations. Since March 2007 FIM is part of Icelandic financial group Glitnir (www.glitnirbank.com). In addition to the head office in Helsinki, FIM has regional offices in Espoo, Jyväskylä, Kuopio, Lahti, Oulu, Riihimäki, Tampere, Turku and Vaasa. FIM also operates in Stockholm and Moscow. The company had net sales in 2006 of EUR 82.0 million, and it posted operating profit of EUR 19.1 million. FIM had a payroll of 284 employees at the end of 2006. www.fim.com

The financial group Glitnir offers universal banking and financial services. Glitnir is a leading niche player in three global industry segments; seafood/food, sustainable energy, and offshore services vessels. Services include retail, corporate and investment banking, stock trade/brokerage and capital management. Glitnir considers Iceland and Norway its home markets. The Glitnir group has operations in Iceland, Norway, Sweden, Denmark, Finland, the UK, Luxembourg, Russia, Canada and China and plans to open a US office in New York in the fall of 2007. Glitnir is listed on the Icelandic Stock Exchange. For more information: www.glitnirbank.com