A shareholders' meeting in Reykjavik Savings Bank hf. (SPRON) has
confirmed the merger schedule signed by the board of directors of
SPRON and the board of directors of Kaupthing Bank hf. on 1 July
2008.

The merger is however still subject to the approvals of the Icelandic
Financial Supervisory Authority and the competition authorities, cf.
press release from July 1.

For further information please contact:
Jónas Sigurgeirsson, Chief Communications Officer, +354 444 6112 or
ir@kaupthing.com


About Kaupthing Bank
Kaupthing Bank is a Northern European bank offering integrated
financial services to companies, institutional investors and
individuals. These services include corporate and retail banking,
investment banking, capital markets services, treasury services,
asset management and comprehensive wealth management for private
banking clients.

The Bank operates in all of the Nordic countries (Denmark, Finland,
Iceland, Norway and Sweden) and in 6 other countries in Europe (the
UK, Luxembourg, Belgium, Switzerland, Germany and the Isle of Man),
as well as the US, the Dubai International Financial Centre (DIFC)
and the Qatar Financial Centre (QFC). In Denmark, Kaupthing Bank
operates under the name FIH Erhvervsbank.
www.kaupthing.com