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30.3.2009 : The Depositors' and Investors' Guarantee Fund's obligation to pay compensations to depositors of Straumur-Burdaras Investment Bank hf.

On 9 March 2009 the FME assumed the powers of a meeting of the shareholders of Straumur- Burdaras Investment Bank hf., immediately suspended the Board in its entirety and appointed a Resolution Committee. The Resolution Committee made a decision of closing the bank that day.

23.3.2009 : The Financial Supervisory Authority delays the transfer of deposits of Straumur-Burdarás Investment Bank hf.

The Financial Supervisory Authority has decided to delay the transfer of deposits of Straumur - Burdarás Investment Bank hf. to Íslandsbanki hf. due to technical difficulties. This is a complicated project, which is more time consuming than previously believed. For these reasons it is necessary to grant an extended deadline to complete the transfer of deposits and the issuance of promissory and collateral documents.

23.3.2009 : The Government's Reorganization of the Network of Savings Banks

The Government announced plans on 21 March 2009 to reorganize Iceland's network of savings banks.

17.3.2009 : Decision on the disposal of deposits of Straumur - Burdarás Investment Bank hf.

The Financial Supervisory Authority (FME) has made a decision on the disposal of obligations of Straumur - Burdarás Investment Bank hf. in Iceland due to deposits in the headquarters of the bank in Iceland. Deposits will be allocated to Íslandsbanki hf. according to the balance and interest earned on the date of takeover with certain limitations specified in the decision.

9.3.2009 : The Icelandic Financial Supervisory Authority (FME) takes Control of Straumur-Burdaras Investment Bank hf.

The Icelandic Financial Supervisory Authority (FME) has on grounds of Act No. 125/2008, which was set in October 2008 because of special circumstances, taken control of the operations of Straumur-Burdaras Investment Bank hf. (Straumur). The FME has appointed a Resolution Committee which will take over all authority of the Board of Directors of Straumur.





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