*

Hitt og þetta 19. september 2006

(IFN) Iceland Stock Exchange to join the OMX Nordic Exchange

Reykjavik (IFN) OMX and Eignarhaldsfelagid Verdbrefathing hf (EV), the owner of Iceland Stock Exchange (ICEX) and Icelandic Securities Depository (ISD) have signed a Letter of Intent regarding an acquisition of EV, ICEX announced on Tuesday.

The transaction is the next step in realizing the vision of an integrated Nordic and Baltic securities market and establishing the OMX Nordic Exchange as a leading European marketplace.

The intention is to announce the signing of a formal agreement before the end of October. An offer will subsequently be submitted to the shareholders of EV, whereby the consideration to EV's shareholders shall be approximately 2,07 million newly issued shares in OMX, corresponding to a valuation of ISK2.45 billion (SEK250 million) excluding surplus cash and marketable securities.

Based on EV the balance sheet as of June 30, 2006, surplus cash and marketable securities are approximately ISK570 million, which are anticipated to be dividended to EV shareholders prior to closing. The transaction is expected to close before the end of the year.

?We are pleased to be participating in the further integration of the Nordic and Baltic securities markets which serves listed companies and investors alike. ICEX listed companies will gain increased visibility and be able to benchmark against a larger peer group," says Thordur Fridjonsson, General Manager of EV and President and CEO of ICEX.

"Furthermore, we expect more international members to participate in the Icelandic market thereby enhancing the liquidity. At the same time the Nordic list will benefit from the addition of some of the fastest growing companies in the Nordic region. The combination should also broaden the investment alternatives for Icelandic investors. All in all, this combination presents promising opportunities for the Icelandic securities market," Fridjonsson said.

(END)

Icelandic Financial News (IFN) is available on Factiva, a joint venture between Reuters and Dow Jones Newswires, FT.COM, LexisNexis, Comtex, Gale and Thomson via the Nordic Business Report.