Save&Save - Glitnir Launches New International Deposit Product: Nobel Peace Prize Laureate Dr. Rajendra Pachauri Joins the Board of Glitnir's Sustainable Future Fund

Reykjavik and Oslo, June 30, 2008 - (ACN Newswire) - Glitnir Bank has announced the launch of "Save&Save", a unique deposit product which the Bank will offer to customers in its two main markets of Iceland and Norway. In due course, Glitnir Bank will extend the product's reach into other internationalterritories. The Save&Save concept will give customers a favourable interest rate while simultaneously allocating funds to a new global environmental fund whose objective is to support environmental projects, focused on sustainable energy and a sustainable seafood industry. This unique attribute of the product is that Glitnir will add a minimum of 0.1% annually of total funds in Save&Save customer accounts, as a contribution to the development of the Glitnir Globe Sustainable Future Fund. Customers will therefore benefit from an attractive rate on their deposits while helping to address environmental issues. The Glitnir Globe Sustainable Future Fund is expected to become an important vehicle in financing research and development particularly within the areas of sustainable energy and a sustainable seafood industry, two fields of significant expertise for Glitnir. The Fund is expected to accumulate up to EUR 4 million within a few years, thus becoming one of the largest private funds supporting research into sustainable development.