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Wednesday, 30 January 2008, 17:24 HKT/SGT
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Source: Glitnir Bank
Moody's Reviews Glitnir's Rating for Possible Downgrade

Reykjavik, Jan 30, 2008 - (ACN Newswire) - Moody's Investors Service announced today that they have placed on review for possible downgrade the Aa3 long-term rating and C bank financial strength rating ("BFSR") of Glitnir banki hf. Glitnir's P-1 short term rating was affirmed.

According to the release the three largest Icelandic commercial banks, have now been placed on review for possible downgrade.

Moody's announcement is attached:
http://hugin.info/133924/R/1186696/237845.pdf


Contact:
Ingvar H. Ragnarsson,
Managing Director, Treasury, Glitnir
Phone +354 440 4665,
Mobile +354 844 4665,
E-mail: ingvar.ragnarsson@glitnir.is

Vala Palsdottir,
Head of IR, Glitnir
Phone: +354 440 4989,
Mobile: +354 844 4489,
E-mail: vala.palsdottir@glitnir.is
 
Bjorn Richard Johansen,
Managing Director, Corporate Communication, Glitnir
Mobile +47-47 800 100,
E-mail: brj@glitnir.no


Topic: Corporate Announcement
Source: Glitnir Bank


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