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Straumur extends international reach to central and eastern Europe

Straumur (“Straumur” or the “Bank”) has acquired a 50% stake in Wood & Company, the leading independent investment house in central and eastern Europe (“CEE”), with the option of acquiring 100% no later than early 2011. The acquisition is a demonstration of the Bank’s determination to build a stronger international presence, and to increase its fee and commission income by conducting a greater proportion of client-driven business.The purchase is made subject to the approval of the Icelandic Financial Supervisory Authority and the Czech Central Bank. The sale will be settled in cash with a

Straumur-Burdaras acquires the majority in the finnish bank eQ and makes a mandatory tender offer

Straumur-Burdaras Investment Bank hf has acquired the majority in eQ Corporation, a finnish bank specialising in brokerage, asset management, and corporate finance. A mandatory tender offer will be launched for all of the shares and option rights in eQ. The offer price will be EUR 7.60 for each share and EUR 5.40 for each option right in eQ. The acquisition value on a fully diluted basis is EUR 260 million. eQ’s Board of Directors recommends the shareholders and holders of option rights to accept the mandatory tender offer.Straumur-Burdaras has acquired 62 per cent of all shares in eQ

Straumur-Burdaras announces important hire to Capital Markets team

Straumur-Burdaras Investment Bank (“Straumur-Burdaras” or the “Bank”), a leading Nordic Investment Bank, today announces that it has hired Höskuldur Hauksson, who was until recently at Goldman Sachs, as Managing Director of the Bank’s Capital Markets operations. Mr Hauksson will lead the Bank’s development and further growth in Capital Markets operations in both the UK and Nordic region.Höskuldur, aged 37, joined Goldman Sachs in 2003 as Executive Director and Commodity Strategist where he was responsible for developing commodity-linked investor business and co-ordinating a team of seven

GROWING NORDIC INVESTMENT BANK

DELIVERING RECORD AFTER-TAX PROFIT OF ISK 45.2 BILLION IN 2006RETURN ON EQUITIY (ROE) 42% IN 2006FOURFOLD INCREASE IN FEES AND COMMISSIONSFridrik Jóhannsson, CEO:"Straumur-Burdarás reports a net income of just over ISK 45 billion for the year 2006, bringing shareholders a return on equity of 42 per cent. These are outstanding results in a year characterised by profitable growth, foreign investments, and development of infrastructure. At the same time, we have ensured the Bank’s independence from the Icelandic market through new ventures in financing. The ratio of income and projects

Straumur-Burdarás will carry out the Bank’s accounting and prepare its annual financial statements in Euros effective from 1 January 2007

The Board of Directors of Straumur-Burdarás Investment Bank hf. has decided to carry out the Bank’s accounting and prepare its annual financial statements in Euros effective from 1 January 2007. This decision also means that the Bank’s equity will be denominated in Euros.This decision has been made with consideration given to the long-term interests of the Bank and its shareholders. Straumur-Burdarás has the goal of being a leading Nordic investment bank with headquarters in Iceland. An ever-increasing portion of the Bank’s assets and revenues is in foreign currencies, and the proportion of

Straumur-Burdarás and customers purchase 22.6% of total share capital in Straumur-Burdarás from FL Group

Straumur-Burdarás Investment Bank hf., together with a group of investors, has approved the purchase of 2,338,864,240 Straumur-Burdarás shares from FL Group. The shares purchased amount to 22.6% of total share capital in the Bank.Straumur-Burdarás itself will purchase 1,025,554,736 shares, or slightly less than 10% of the Bank’s share capital. Other investors will purchase a total of 1,313,309,504 shares, or nearly 13% of share capital. No single investor in this group exceeds the 5% flagging limit.The buyers will pay ISK 18 per share in a transaction totalling ISK 42.1 billion. The

Results for the first nine months of 2006

BANKING ACTIVITIES ON SOLID GROUNDISK 8 BILLION IN INTEREST INCOME, FEES, AND COMMISSIONSDURING THE FIRST NINE MONTHS OF THE YEARFridrik Jóhannsson, CEO:“The management of Straumur-Burdarás is extremely proud of the Bank’s successful performance during the first nine months of the year. Net interest income, fees, and commissions totalled ISK 8 billion during the period, which is a ninefold increase over and above the same period a year ago. All of the Bank’s divisions are turning in good results, and there is continued growth in revenue streams beyond capital gains. This is in line

Disclosure of Share Transfers in Carnegie, Intrum Justitia, Cherryföretagen and Scribona

Shareholders’ meetings of Burdarás, Landsbanki Íslands and Straumur Investment Bank have agreed on a motion to merge Burdarás, on the one hand, with Landsbanki Íslands and, on the other hand, with Straumur- Burdarás Investment Bank. Following the approval of the Icelandic Financial Supervisory Authority and the Icelandic Competition Authority of the merger, all of Burdarás assets will be transferred either to Landsbanki Íslands or Straumur- Burdarás Investment Bank as provided for in the Merger Schedule. Burdarás’ Swedish assets will be divided as follows: The following assets are

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