The Office of the Prime Minister of Iceland today issued the following announcement:

“The Prime Minister has today accepted a request by Jón Sigurðsson, Minister for Industry and Commerce, to be relieved of his duties as Governor of the Central Bank of Iceland. At the same time the Prime Minister has appointed Ingimundur Friðriksson, Assistant Governor, to the post of Governor of the Central Bank of Iceland for a term of seven years, effective from September 1, 2006.

“Ingimundur Friðriksson was born on February 17, 1950. An MA in Economics, he joined the Central Bank of Iceland on a temporary basis in 1973 and has subsequently been employed there since 1975. He has also been an Alternate Executive Director and Executive Director for the Nordic Baltic Constituency with the International Monetary Fund. Ingimundur Friðriksson has served as Assistant Governor of the Central Bank of Iceland since 1994, and has been appointed for two temporary terms as a Governor of the Bank, in 2002-2003 and again from June until the end of August 2006.”

There are three members on the Board of Governors of the Central Bank of Iceland. The other Governors are Davíð Oddsson (Chairman) and Eiríkur Guðnason.

No. 25/2006

June 29, 2006