A shareholders meeting in SPRON held today, the 6 August 2008 on the merger
schedule of SPRON and Kaupthing was approved. Total votes at the meeting was
3.514.592.047, there of was 2.940.908.943 votes with the merger, 570.550.634
votes was against the merger and 3.132.470 was empty or/and not approved.
Shareholders of 218.548.878 votes did not use their voting rights. For the
merger schedule to be approved 67% or 2/3 of the votes at the meeting was
needed, the merger schedule was approved by 78.78% of the votes. 

The merger is also subject to the approval of the Icelandic Financial
Supervisory Authority and also subject to the competition authorities not
rejecting it or imposing conditions which the boards of directors of the
companies consider unacceptable or which would make it inevitable to resubmit
the merger proposal to a SPRON shareholders' meeting. The creditors' approval
of the merger has already been obtained. 

Fur further information pleasse contact:
Gudmundur Hauksson, CEO of SPRON, tel: +354 550 1213
Soffia Sigurgeirsdottir, Head of Investor Relations, tel: +354 550 1246