Optional Redemption Second Notification Date

Further to the announcement on 16 March 2016, Glitnir confirms that the final amount which will be used to redeem the Notes, by payment in cash, is EUR 36,309,845. The aggregate principal amount of the Notes will be EUR 899,139,177 immediately following the payment on 12 April 2016.

In addition to the EUR amount of 20,200,000 the following amounts were converted into EUR on the Currency Conversion Date on 6 April 2016:

USD 5,483,000
GBP 5,067,000
NOK 26,550,000
DKK 15,000,000
SEK 1,472,000

The amount for distribution from the conversion on the Currency Conversion Date is EUR 16,109,845.

The amounts converted into EUR on the Currency Conversion Date, and forms part of the Euro Equivalent Redemption Funds, derive from realisations of the following assets (received on Q3 2015, Q4 2015 and January 2016):

Loans to customers:

EUR 16,520,000 and NOK 26,500,000

Other assets:

EUR 1,860,000
GBP 947,000

Other sources is reduced hold back of assets support fund and operating expenses reserve.

Reykjavik, 8 April 2016

On behalf of Glitnir HoldCo ehf.
Ingólfur Hauksson, Chief Executive Officer