Fitch Affirms Landsbanki at 'A' With Stable Outlook

In their statement, Fitch marks that the ratings reflectLandsbanki'sleading position in its domestic market, the growingdiversificationof its earnings, its prudent provisioning policies, comfortablecapitalisation and marked improvement in its funding profile.Theyalso take into account its still large equity portfolio,and thepotential volatility in its domestic market andcapital-market-related activities.

Please find attached Fitch's full press release publishedtoday.

About Landsbanki

Landsbanki is a growing European bank with total assetsof ISK2,847billion (EUR 32.4 bn) at 30 September 2007 and a marketcapitalisation of ISK 403 billion (EUR 4.3 bn) at 22 November2007.Through its extensive distribution network of 2,499 employeesin17countries, Landsbanki is set to deliver targeted financialservicesbased on local expertise for mid-cap corporates in Europe.Landsbankiprovides retail and corporate banking, investment banking,capitalmarkets services, asset management and wealth managementforprivatebanking clients. Landsbanki's unique product line includesaccesstoboth debt and equity markets and its research departmentis amongthemost comprehensive in Europe, including some 90 analystscoveringclose to 900 European stocks.

The market leader of the Icelandic financial service sector,Landsbanki's growth in recent years has been primarily organic,basedupon small strategically acquired platforms in the UK, IrelandandContinental Europe. Most recently, the bank acquired thesecuritiesbroker and investment bank Bridgewell in the UK.

Headquartered in Reykjavik, Iceland, Landsbanki Islandshf. istradedon the OMX Nordic Exchange Iceland under the symbol [LAISIR].Landsbanki is rated by Moody's (Aa3 / P-1 / C / Stable)and Fitch(A/ F1 / B/C / Stable).

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