The appointment of UBS as financial and capital markets advisors

The Resolution Committee of Glitnir bank is pleased to announce the appointment of UBS Securities LLC (“UBS”) to act as financial and capital markets advisor to the Resolution Committee in connection with certain matters relating to the restructuring of Glitnir bank. UBS’ assistance to the Resolution Committee of Glitnir bank will include reviewing and analysing potential alternatives to the financial instrument to be issued by New Glitnir banki hf (“New Glitnir”) to Glitnir bank reviewing and analysing the strategic alternatives that may be available to Glitnir bank, and advising on the maximisation of Glitnir bank’s assets.

UBS anticipates, as part of its responsibilities to the Resolution Committee, consulting with major creditors of Glitnir bank, including members of the Informal Creditors Committee

The Resolution Committee looks forward to working with UBS and will provide further updates on the status and outcome of their work at the appropriate time.

For and on behalf of
The Resolution Committee of Glitnir bank