Kaupthing Bank announced on 19 March 2008 of its decision not to collect payment for the subscriptions received in the Skipti hf. offering and to cancel all subscriptions which remained unpaid after 4 p.m. on 26 March 2008.

In total 104 subscriptions were cancelled, thereof 31 subscriptions on 26 March 2008. Accordingly, Kaupthing Bank holds 1,979,776,867 shares in Skipti hf., which represents 26.87% of Skipti hf.'s total share capital.