Correction - Press release concerning shares in Skipti hf. - Published 2008.03.27:10:24:56

Correction: Number of cancelled subscription was 111, not 104, raising
Kaupthing´s number of shares from 1.979.776.867 to 1.980.100.660. 


Kaupthing Bank announced on 19 March 2008 of its decision not to collect
payment for the subscriptions received in the Skipti hf. offering and to cancel
all subscriptions which remained unpaid after 4 p.m. on 26 March 2008. 

In total 111 subscriptions were cancelled, thereof 38 subscriptions on 26 March
2008. Accordingly, Kaupthing Bank holds 1,980,100,660 shares in Skipti hf.,
which represents 26.87% of Skipti hf.'s total share capital.