Notice from Glitnir Bank Luxembourg

Pursuant to a decision of 8 October 2008, the Luxembourg District Court has subjected GLITNIR BANK LUXEMBOURG S.A. (the "Bank") to the reorganisation measure of suspension of payments (sursis de paiement), and has appointed KPMG ADVISORY S.à r.l., represented by Mr. Eric Collard, as administrator of the Bank (the "Administrator").

According to its mission, the Administrator has prepared a restructuring plan (the "Plan").

The Plan has been subjected to the vote of the creditors of the Bank. The voting procedure was closed on 16 March 2009 at 11.00 a.m. Luxembourg time.

The Bank and the Administrator hereby inform that the Plan has been unanimously approved by the creditors.

Pursuant to a decision of 1st April 2009, the Luxembourg District Court has decided to:
"sanction the restructuring plan of GLITNIR BANK LUXEMBOURG S.A. presented by the Administrator, KPMG Advisory S.à r.l., represented by Mr. Eric Collard."

According to the Plan and following an extraordinary general meeting of shareholders, the Bank has entered on 3 April 2009 into voluntary and solvent winding up proceedings. KPMG Advisory S.à r.l., represented by Mr. Eric Collard has been appointed as liquidator.

In case of questions, please contact the liquidator on Tel +352 621 877 240.