Statement of Assets and Liabilities as at 30 June 2009

Under the terms of the Moratorium on creditor proceedings granted to Glitnir hf. ("Glitnir") on 24 November 2008 by the District Court of Reykjavik, the Moratorium Appointee of Glitnir presented the assets and liabilities of Glitnir, together with an estimate of the value of the assets and a computation of the liabilities as at 31 December 2008.

The Moratorium was extended on 19 February 2009 and the Moratorium Appointee and Resolution Committee now wish to present an updated estimate of the value of assets and computation of liabilities as at 30 June 2009 (the "Statement of Assets and Liabilities").

The Statement of Assets and Liabilities has been prepared by the Moratorium Appointee in conjunction with the Resolution Committee, and employees of Glitnir, incorporating the assistance of international professional service firms where appropriate.

Statement of Assets and Liabilities as at 30 June 2009