Continued delays in redemptions

Because the temporary suspension of trading in shares issued by Spron is still in force, delays in redemptions for the fund listed below continue to apply.

Clients can still place orders but they will not be executed until the Financial Supervisory Authority authorises the resumption of trading in shares issued by the company.

ICEQ

Delays in the redemptions of the fund are pursuant to Par. 2 of article 27 of Act no. 30/2003 on Undertakings for Collective Investment in Transferable Securities (UCITS) and Investment Funds.

In addition, the Board of Directors of Kauphting Investment Funds has decided on the continuing delay in redemption for Kaupthing Investment Funds – Icelandic Equity.

March 23, 2009