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20.05.2009

Kaupthing Singer & Friedlander Limited (in administration) - dissemination and announcements of information - Luxembourg Stock Exchange

Kaupthing Singer & Friedlander Limited (KSF) was placed into administration by order of the High Court of England and Wales on 8 October 2008 on the application of the Financial Services Authority. Margaret Elizabeth Mills, Thomas Merchant Burton, Patrick Joseph Brazzill and Alan Robert Bloom were appointed joint administrators of KSF. The joint administrators act only as agents of KSF and without personal liability.

KSF has not met an interest payment under the bonds listed on the Luxembourg stock exchange with ISIN XS 0179145452 on the interest payment dates of 13 November 2008 and 13 May 2009.

The joint administrators of KSF have published a progress report in accordance with their statutory duties as administrators of a company in England and Wales. This has been sent to all known creditors of KSF in accordance with the statutory obligations and is also available at http://www.kaupthingsingers.co.uk/Pages/3962. The progress report contains the joint administrators' current estimate that an initial distribution of not less than 10p in the £ will be made to unsubordinated creditors who are neither secured nor preferential. The progress report also outlines the joint administrators' current estimate that total distributions to such creditors in the KSF administration should be a minimum of 50p in the £.

The joint administrators are collecting in written statements of claims and in the ordinary course of the administration the joint administrators will consider each of the claims submitted on their own merits. The relevant rules set out in the Insolvency Act 1986 and the Insolvency Rules 1986 in relation to debts which are payable on a future date and contingent debts (which includes debts which are or may become subordinated) will also apply and these may materially and adversely affect the value at which the respective written statements of claims will be determined.

The joint administrators can be contacted at:

The Joint Administrators
Kaupthing Singer & Friedlander Limited (in administration)
21 New Street
London
EC2M 4HR
United Kingdom