Creditor update - interim distributions

The Winding-Up Board and Resolution Committee of Glitnir hf. are pleased to be able to provide creditors with an update on progress being made regarding a first interim distribution of cash to creditors. The update is provided in the attached document and contains:

• A progress update in relation to unresolved priority and unsecured claims, decisions by the Winding-Up Board and likely timescales going forward;
• An outline of the process for making a first interim distribution;
• Financial information regarding a first interim distribution; and
• Key features of the likely distribution mechanism.

The update contains important information and creditors are encouraged to review its contents thoroughly. Any comments or questions regarding the update should be sent by email to This email address is being protected from spambots. You need JavaScript enabled to view it.

 Glitnir Creditor Update Interim Distributions 25 March 2011