- Fixed income istruments issued by Kaupthing Bank hf. removed from trading

NASDAQ OMX Iceland hf. (The Exchange) has decided to remove all fixed income
instruments issued by Kaupthing Bank hf. from trading as of market closing on 5
June 2009. 
 
The decision is taken with reference to Section 8.5.1 of Rules for Issuers of
Finanicial Instruments on The Exchange, as the company has been granted a
moratorium as provided for in Act No. 129/2008, amending the Act on Financial
Undertakings. Generally, a moratorium by itself does not result in requiring
that financial instruments be removed from trading. According to Act No.
44/2009, amending Act No. 161/2002, on Financial Undertakings, as subsequently
amended, it appears necessary to conclude that the situation of financial
undertakings granted a moratorium is in substance equivalent to that of
bankruptcy.