Statements from the Central Bank of Iceland and the Ministry of Finance and Economic Affairs on 28 October 2015

The Winding-up Board of Glitnir hf. notes yesterday’s statements from the Central Bank of Iceland and the Ministry of Finance and Economic Affairs and welcomes the confirmation that the Company’s Revised Stability Proposal (which was announced on 20 October 2015) satisfies the requirements of the Foreign Exchange Act and has been presented to the Parliamentary Economic Affairs and Trade Committee as required by that Act.

Copies of the press releases from the Ministry of Finance and Economic Affairs and the Central Bank of Iceland can be found at the following links:

http://www.ministryoffinance.is/news/nr/20191 (English)
http://www.fjarmalaraduneyti.is/frettir/nr/20190 (Icelandic)
http://www.cb.is/publications/news/news/2015/10/28/Central-Bank-concludes-assessment-of-preliminary-composition-proposals/ (English)
http://www.sedlabanki.is/utgefid-efni/frettir-og-tilkynningar/frettasafn/frett/2015/10/28/Sedlabanki-Islands-hefur-lokid-mati-sinu-a-fyrirliggjandi-drogum-ad-naudasamningum/ (Icelandic)

The Winding-up Board looks forward to receiving the letter of intent from the Central Bank of Iceland in relation to the exemption it has requested in order to proceed with its proposed composition on the basis of the Revised Stability Proposal.

The Winding-up Board also looks forward to the publication of the amending legislation referred to in yesterday’s presentation by the Ministry of Finance and Economic Affairs. The Winding-up Board will assess this proposed legislation, once it is available, in order to evaluate its implications for the Glitnir estate with a view to launching the proposed composition as soon as it is practicable to do so.