On 17 May 2007, the boards of directors of Bridgewell and Landsbanki announced
that they had reached agreement on the terms of a recommended takeover of
Bridgewell by Landsbanki to be effected by means of a scheme of arrangement
under section 425 of the Companies Act 1985.
For information only, please find attached the document of the recommended
takeover of Bridgewell by Landsbanki Íslands hf. The note summarises the terms
of the acquisition, explains the background to and reasons for the
recommendation of the Acquisition and seeks the support and approval for the
resolutions required to implement it.
For further information on the announced Bridgewell acquisition or the attached
document, please contact:
* Landsbanki's CEOs Sigurjón Th. Árnason, Tel. +354 410-4009 / +354 898 0177
and Halldór J. Kristjánsson, Tel. +354 410 4015 / +354 820 6399.
* Media Relations - Andrew Walton, Financial Dynamics, tel: +44 20 7269 7204 /
mob: +44 7711 264 157.
