Exista requests that the Company's shares be removed from trading on the Exchange

The Board of Exista has requested of the Nasdaq OMX Nordic Exchange in Iceland
(the Exchange) that the Company's shares be removed from trading on the
Exchange. This request is in accordance with the results of the Exista
shareholders' meeting, held 30 October 2008, where a resolution to request
immediate delisting of the Company's shares from the Exchange was approved
unanimously. 
 
In the Company's report to the Exchange, three principal reasons are specified
as the grounds for this decision: 

1. The position and prospects of Exista are uncertain at the present time.
Exista's management is currently engaged in discussions with financial
institutions and governmental authorities in an attempt to gain a clearer view
of matters concerning the settlement of the Company's claims against Icelandic
banks. At the same time, Exista is engaged in discussions with domestic and
foreign lenders concerning the review of the Company's liabilities and other
obligations. The present uncertainty obstructs normal price formation in the
Company's shares and may lead to discrimination among investors. 

2. In the estimation of the Board, and with an eye to protecting the interests
of the Company and all of its shareholders, it is important that Exista be able
to respond swiftly and make decisions without concern for the notification and
information disclosure requirements accompanying listing on the Exchange. 

3. In the wake of the collapse of the nation's financial system, extremely
unusual circumstances dominate the Icelandic capital markets at present. In
Exista's view, it is not possible in the current environment to trust in the
formation of a normal balance between supply and demand in an open market. When
the uncertainty surrounding the Company itself is added to this, there is a
very strong likelihood that resuming trading in Exista's shares on an organised
securities exchange would be to the detriment of all Exista shareholders.