The Central Banks of Sweden, Norway and Denmark, have entered into euro/Icelandic króna bilateral swap facility agreements with the Central Bank of Iceland.

The facilities are a precautionary measure made to provide the Central Bank of Iceland with access to euro if needed. Each agreement provides up to EUR 500 million, where the Central Bank of Iceland can acquire euro against Icelandic króna. The swap agreements are facilities that may be drawn upon by the Central Bank of Iceland when and if necessary.

The above agreements significantly enhance the available international liquidity of the Central Bank of Iceland. The Bank intends to further bolster its external liquidity in the period ahead.

The press announcements of the participating central banks are available on their respective websites:

Danmarks Nationalbank (http://www.nationalbanken.dk)

Norges Bank (http://www.norges-bank.no)

Sveriges Riksbank (http://www.riksbank.se)

No. 15/2008

May 16, 2008