- ICEQ comprised the following at the end of 18th January 2008 -

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| Source: Stefnir hf.
multilang-release
ISK	2.004.557	
ATOR	6.024.519	
BAKK	2.795.608	
EXISTA	9.211.581	
FL	6.982.569	
GLB	21.424.808	
HFEIM	957.128	
ICEAIR	641.759	
KAUP	1.166.205	
LAIS	15.986.388	
MARL	352.931	
OSSR	326.706	
SPRON	10.682.604	
STRB	17.525.450	
TEYMI	4.183.427	
ICEQ		1.554.681
		

Investors are advised to read the ICEQ prospectus on Kaupthing Bank's Fund
Center, www.kbsjodir.is, or on the news page of the Iceland Stock Exchange:
http://news.icex.is/newsservice/MMIcexNSWeb.dll/newspage?language=IS&pagetype=sy
mbolnewslist&primarylanguagecode=IS&newsnumber=30035. 

Rekstrarfélag Kaupþings banka hf.