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Redemption price for the minority shares in Glitnir Corporation is EUR 8.00 per share

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PRESS RELEASE

Redemption price for the minority shares in Glitnir Corporation is EUR 8.00 per share

The Arbitral Tribunal appointed by the Finnish Central Chamber of Commerce has on 9 November 2007 confirmed the redemption price for the shares in Glitnir Corporation (FIM Group Corporation until 11 October 2007), a Finnish subsidiary of Icelandic Glitnir banki h.f. (the “Redeemer”), to be EUR 8.00 per share. The redemption price confirmed by the Arbitral Tribunal is the same as the redemption price offered by the Redeemer in the obligatory purchase offer. The Arbitral Tribunal dismissed minority shareholders’ claims concerning their legal costs.

The redemption price and interest thereon shall be paid to the former minority shareholders within a month from the date when the Arbitral Award gained legal force, at the latest. According to the Finnish Companies Act, an appeal shall be filed with the District Court no later than 60 days after the registration of the Arbitral Award.

Glitnir Corporation

Distribution:
Main media

Further information:

Mari Tyster, Head of Group Legal and Compliance, tel. +358 9 6134 6416
Anssi Partanen, Corporate Communication Manager, tel. +358 9 6134 6429, mob. +358 50 5681952

About Glitnir

Glitnir Corporation is the Finnish part of the financial group Glitnir, which offers universal banking and financial services. Glitnir is a leading Nordic-based bank and financial institution. In Northern Europe, Glitnir concentrates on selected business lines including investment management, investment banking, corporate banking and the securities market.

Glitnir considers Northern Europe its home market. The Glitnir group has operations in the Nordic countries, the UK, Luxembourg, Russia, Canada, the USA and China. Glitnir is listed on the Icelandic Stock Exchange .

In addition to the head office in Helsinki, Finland, Glitnir Corporation has regional offices in Espoo, Jyväskylä, Kuopio, Lahti, Oulu, Riihimäki, Tampere, Turku and Vaasa. (www.glitnir.fi)