Glitnir growth plan in Nordic real estate market

    /24-7PressRelease/ - STOCKHOLM, SWEDEN, August 10, 2007 - Glitnir has merged with Swedish / Finnish commercial real estate adviser Leimdörfer to create a new pan-Scandinavian real estate advisory under the name Glitnir Property Holding.

Glitnir Property Holding entered into an agreement to acquire 91 percent of the shares in the Swedish company Leimdörfer in a transaction completed on July 5th. Peter Leimdörfer will head up the new venture as Managing Director of Glitnir Property Holding.

Leimdörfer is a successful Swedish real estate adviser operating in the Swedish and Finnish property markets. The company was founded in 1992 and has 40 employees with offices in Stockholm and Helsinki, Finland. Leimdörfer has developed business in four specific areas; brokerage, corporate finance, financial advisory and strategic advisory.

The merger with Leimdörfer will allow Glitnir to expand both its services and geographical scope within the Nordic commercial property markets. Glitnir Property Holding and its subsidiaries now have offices in Oslo, Stockholm and Helsinki.
"The Swedish market is one of the most active in Europe and is highly interesting, but as it is dominated by a few domestic players, it has been very difficult to gain significant entrance," says Lars P. Fasting, partner in the new entity. "By joining forces with Leimdörfer, our clients will be able to take advantage of Leimdörfer's substantial research capability, strong execution ability and impressive international network."

Visit Glitnir's website at www.glitnirbank.com for further details on Glitnir Property Holding and financial advice on the Nordic property markets.

About Glitnir
Glitnir is a leading Nordic financial group that offers universal banking services. It is the sole owner of banks in Iceland, Luxembourg and Norway, and has branches in London, UK, and Copenhagen, Denmark, as well as a representative office in Halifax, Canada.

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