Kaupthing Bank’s consensus estimate for Q2 2008.

Kaupthing Bank - Comprehensive commercial and investment banking services

Kaupthing Bank offers comprehensive commercial and investment banking services to individuals, companies and institutional investors. The Bank is a leading player in all the main areas of the Icelandic financial market, and in addition to Iceland, the Bank's key markets are Denmark and the United Kingdom.

The Bank focuses on the growth and development of its international activities and aims to be one of the leading investment banks in northern Europe. As of 30 June 2008 the number of full-time equivalent positions was 3,207 at Kaupthing Bank and its subsidiaries.

Kaupthing´s shares are listed on the OMX Nordic Exchange in Iceland and Stockholm.

For further information about Kaupthing Bank:

Consensus Estimates Q2

The table below shows the consensus estimate for the Q2 of 2008. The consensus estimates is based on earnings estimates from all the analysts covering Kaupthing Bank.

Consensus Q2 2008	Consensus	High	Low
Net Interest Income	25.395	33.097	21.542
Net Commission Income	10.905	12.151	10.000
Net Financial Income	3.622	6.099	-1.779
Other Income	3.197	4.000	1.803
Operating Income	43.280	52.255	36.347
Total Expenses	21.757	23.500	19.642
Loan Losses	4.211	5.000	3.000
Earnings before income tax	17.309	25.676	8.702
Shareholder's net earnings	13.795	20.762	6.947