- Update on Glitnir's liquidity position

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| Source: Glitnir banki hf.
multilang-release
Reykjavik, 17 January 2008 - Glitnir is in a good position with more than EUR 6
billion immediately available funds with maturing long term debt of EUR 2.5
billion in 2008 for parent company and EUR 1 billion for its Norwegian
subsidiary. 

The decision of the Central Bank of Iceland, earlier this week, to alter the
rules on collaterals in regular transactions with the Central Bank, will
improve Glitnir's liquidity position even further. 

A detailed update on the liquidity position will be published with Glitnir's
accounts on 29 January. 

For further information please contact:
Vala Pálsdóttir, Head of IR, phone: +354 440 4989, e-mail:
vala.palsdottir@glitnir.is