LBI's Winding-up Board has updated details of the estimated value of LBI's asset portfolio as of 31/12/2012. Considerable success has been achieved in boosting recoveries, and the real increase in the estimated value of assets QoQ amounted to over ISK 32 billion. The rise during the quarter resulted from an increase in a claim against Glitnir amounting to ISK 24 billion, around IKS 4 billion resulted from the sale of Aurum Holdings Limited in the UK and other increases amounted to ISK 4 billion.

Attention is drawn to the fact that at the beginning of October the Winding-up Board made partial payments to priority creditors for the third time. In this instance, the total payments were equivalent to ISK 82 billion, based on a fixed exchange rate as of 22/04/2009. In total, the Winding-up Board has now distributed ISK 661 billion in three partial payments towards priority claims amounting to a total of ISK 1,318 billion. Payments of ISK 657 billion remain to be made to priority claims.

Based on the fixed exchange rate as of 22/04/2009, estimated recoveries as of the end of last year, including the partial payments, amounted to ISK 1,543 billion. This is ISK 225 billion more than the book value of priority claims prior to the above-mentioned payments.