49IP Landsbanki.6.25

    Landsbanki Resolution Committee meets with creditors
             



Landsbanki ๏ฟฝslands hf

Press release -21 November 2008, Reykjav๏ฟฝk

FIRST MEETING OF INFORMAL CREDITORS' COMMITTEE

The Chairman of  the Resolution  Committee of  Landsbanki ๏ฟฝslands  hf
("Old Landsbanki"), Mr  L๏ฟฝrus Finnbogason, announced  that the  first
informal creditors' committee meeting (ICC)  had been held on  Friday
14th November,  in  Reykjav๏ฟฝk,  Iceland.   The  ICC  is  made  up  of
creditors  and   creditor's   representatives   of   Old   Landsbanki
representing  the  interests  of  different  classes  and  types   of
creditors.

The meeting discussed the  background to Landsbanki's operations  and
the circumstances  leading  up  to  action  taken  by  the  Icelandic
financial regulator (FME).  Attendees were informed of actions  being
taken by the  Resolution Committee to  both maximize long-term  value
and protect assets for stakeholders and there was a discussion of the
way forward for Old Landsbanki  to achieve the best long-term  result
for stakeholders.  Suggestions  provided by  creditors  on  strategy,
structure and  direction  forward  were received  by  the  Resolution
Committee and will be communicated to the FME.

Further information about the ICC  including contents of the  meeting
will be made available at. http://www.landsbanki.is/oldlandsbanki/.

The Resolution Committee  looks forward to  working closely with  the
ICC towards a solution that maximises recovery for all stakeholders.

For and on behalf of The Resolution Committee of Old Landsbanki


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.

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