The Landsbanki Resolution Committee notes media speculation with regards to the potential disposal of its majority stake in Iceland Foods Group Limited. The Committee can confirm that it has initiated a process to evaluate its options with regards to its holding in Iceland Foods. The management of Iceland Foods has been kept fully informed of developments, and the Committee will make further statements as and when there is a significant development to announce.

The core objective of the Landsbanki Resolution Committee is to maximise the value of assets controlled by the bank on behalf of creditors.

The Committee will provide an update on its programme to maximise value for the bank’s creditors as and when appropriate.