Optional Redemption Second Notification Date

Further to the announcements on 4 February and 16 February 2016, Glitnir confirms that the final amount which will be used to redeem the Notes, by payment in cash, is EUR 650,325,644. The aggregate principal amount of the Notes will be EUR 935,449,022 immediately following the payment on 7 March 2016.

In addition to the EUR amount of 89,700,000 and EUR 528,936,600 that originates from EUR or have previously been converted into EUR, the following amounts were converted into EUR on the Currency Conversion Date on 1 March 2016:

USD 1,713,000
GBP 15,600,000
NOK 71,720,000
DKK 18,500,000
The amount for distribution from the conversion on the Currency Conversion Date is EUR 31,689,044.

The amounts converted into EUR on the Currency Conversion Date, and forms part of the Euro Equivalent Redemption Funds, derive from realisations of the following assets (received on Q3 2015, Q4 2015 and January 2016):

Loans to customers:

EUR 2,958,000
DKK 18,500,000
NOK 44,771,000
USD 1,713,000
GBP 429,000

Shares and equity:

EUR 22,501,000
GBP 6,303,000

Other sources is cash balance (holdback at composition).

Reykjavik 3 March 2016
On behalf of Glitnir HoldCo ehf.
Ingólfur Hauksson, Chief Executive Officer