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Net asset valuation

24.2.2009

The decision of The Financial Supervisory Authority (FME) of 9 January 2009 stated that the net asset valuation of NBI hf., New Glitnir Bank hf., and New Kaupthing Bank hf. could not be completed within the timeframe of the original decisions (i.e. 90 days from the original decision issued in October 2008 for each new bank). Consequently, the FME decided to extend the valuation timeframe, with a decision on the final deadline to be taken no later than 15 February 2009.The FME has issued a decision on the final deadline of the valuation of the new banks. The preparation of the valuation of net assets by Deloitte is to be completed by the end of March 2009 and the review of the valuation of the net assets by Oliver Wyman is to be completed no later than 15 April 2009.

For further information for the media please contact Sigurður G. Valgeirsson, sgv@fme.is  tel. +354 525 27 00

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