SOURCE: Glitnir

February 20, 2008 08:06 ET

Corrections to the financial statements for 2007

REYKJAVIK, ICELAND--(Marketwire - February 20, 2008) -

The following notes have been changed from previously presented financial statements:

Note 3.12 d

The last sentence of the note was deleted: "The Bank's amortisable intangible assets consist of software, whose estimated useful life is 4 years."

Note 2.3b

The word semi-annually was changed into quarterly in following sentence:

"For this purpose the Bank's management reviews its loan portfolios to assess impairment on a quarterly basis."

Note 14

Total numbers for bonds was changed from 1,799 to 3,567 and total number of Borrowings, deposits and related derivatives was changed from negative by 1,901 to positive by 1,901. The total number remains the same.

Note 19

Salaries for 4 former Board members are now stated separately instead of one total sum.


Numbers for various sectors in the table "categorised by industry sectors" have been changed.

Note 81

Table for on-balance-sheet financial items: numbers for equity was missing and it is now shown separately, therefore the total number for financial liabilities was changed and the currency gap was also changed accordingly.

For further information please contact:

Lárus Welding
Tel: +354 440 4005

Alexander K. Guðmundsson
Tel: +354 440 4656

Bjørn Richard Johansen
MD Corporate Communication
Tel: + 47 47 800 100

Vala Pálsdóttir
Head of Investor Relations
Tel: +354 440 4989

Copyright © Hugin AS 2008. All rights reserved.

Contact Information