The Condensed Interim Accounts for the period January 1 to June 30, 2008 has been approved and signed by the Board of Directors of the Housing Financing Fund (HFF) at it´s meeting yesterday 21 August 2008. The accounts have been prepared in accordance with International Financial Reporting Standards (IFRS) for interim accounts, IAS 34. According to the income statement, the net profit of the Fund amounted to ISK 466 million for six months ending June 30, 2008. Equity, according to the balance sheet, amounted to ISK 20,655 million at the end of the period. The capital ratio of the Fund, calculated according to stipulations according to regulation on the Housing Financing Fund No. 544/2004, was 8.0%. The calculation of the ratio is equivalent to the calculation of the capital ratio of other financial institutions. The long-term goal of the Fund is to maintain the ratio above 5.0%. For further information, please contact Guðmundur Bjarnason, Ívar Ragnarsson or Ásta H. Bjarnadóttir at (+354) 569 6900.