SOURCE: Glitnir

February 20, 2008 08:18 ET

Glitnir: 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.

Note75

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.

http://www.glitnirbank.com

Contact Information

  • For further information please contact:

    Lárus Welding
    CEO
    Tel: +354 440 4005

    Alexander K. Guðmundsson
    CFO
    Tel: +354 440 4656

    Bjørn Richard Johansen
    MD Corporate Communication
    Tel: + 47 47 800 100
    brj@glitnir.no

    Vala Pálsdóttir
    Head of Investor Relations
    Tel: +354 440 4989
    vp@glitnir.is