SOURCE: Glitnir

January 30, 2008 09:34 ET

Moody's reviews Glitnir's rating for possible downgrade

REYKJAVIK, ICELAND--(Marketwire - January 30, 2008) - Moody's Investors Service announced today that they have placed on review for possible downgrade the Aa3 long-term rating and C bank financial strength rating ("BFSR") of Glitnir banki hf. Glitnir's P-1 short term rating was affirmed.

According to the release the three largest Icelandic commercial banks, have now been placed on review for possible downgrade.

Moody's announcement is attached:

For further information contact: Ingvar H. Ragnarsson, Managing Director, Treasury, phone +354 440 4665, mobile +354 844 4665, e-mail: ingvar.ragnarsson@glitnir.is .

Vala Pálsdóttir, Head of IR, phone: +354 440 4989, mobile: +354 844 4489, e-mail: vala.palsdottir@glitnir.is.

Bjørn Richard Johansen, Managing Director, Corporate Communication, mobile +47-47 800 100, e-mail: brj@glitnir.no.





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