Open Creditors’ Meeting 22 September 2009

The Moratorium Appointee and Resolution Committee of Glitnir hf. ("Glitnir") have announced that they will be holding a creditors' meeting at 9am on 22 September 2009 at Hilton Reykjavík Nordica hotel, Reykjavik, Iceland.

The meeting is being held in order to update creditors of Glitnir on discussions and recommendations regarding the recapitalisation of Islandsbanki hf. (formerly New Glitnir banki hf.), as well as to provide creditors with a more general update on key events and the financial position of Glitnir since the last creditors' meeting on 6 February 2009.

The high level agenda of the meeting is:

1. Update on status and key events since 6 February 2009, including appointment and role of Winding-Up Board, update on the claims registration process, operational overview of Glitnir and high level details of Glitnir's strategy going forward.
2. Presentation regarding the recapitalisation of Islandsbanki hf., including summary of process to date and going forward and recommendations of the Resolution Committee, its financial advisers and key creditors.
3. Presentation of the Statement of Assets and Liabilities of Glitnir as at 30 June 2009.
4. High level summary of a Composition of Creditors under Icelandic law.
5. Next steps and key milestones going forward.

Creditors wishing to attend the meeting should register their intention here.

For and on behalf of:
The Moratorium Appointee and Resolution Committee of Glitnir hf.