Kaupthing to submit a public offer to the shareholders of Nordiska

Kaupthing to submit a public offer to the shareholders of Nordiska Kaupthing Bank hf. ("Kaupthing"), an Icelandic bank, is making a public share offer (the "Offer") for the Swedish bank JP Nordiska AB (publ) ("Nordiska") of which Kaupthing already holds 28%. Kaupthing regards the Offer as an appropriate response to the current market conditions, where restructuring and consolidation is needed. Kaupthing has operations in Reykjavík, Stockholm, Copenhagen, Helsinki, the Faeroe Islands, Luxembourg, New York and Geneva. · Kaupthing has decided to submit the Offer to the shareholders of Nordiska.