August 25, 2008

Glitnir has appointed two new business directors for Chile and Peru in an effort to strengthen its global network of expertise within the seafood industry.

Wilfredo Caceres is Glitnir's new representative in Peru, while Vicente Perez joins Glitnir in Chile with responsibility for Glitnir's operations in Chile, Argentina and Uruguay.

Wilfredo Caceres is the former chairman of Copeinca ASA, which is the third largest fishmeal company in the world. Caceres has worked closely with Glitnir during the past three years -- most recently on the private placement and listing of the Peruvian agribusiness Camposol. Caceres has also been financial manager of the most important Peruvian mining company, Cia. Minera Milpo, and director and shareholder of FIMA, the country's most important metal mechanics company.

Caceres holds a degree in economics from the University of Pacifico, Peru and an MBA degree from IESE Business School, Spain.

The Peruvian fishmeal and fish oil industries are among the growing industries in the country, which has a long tradition as a fisheries nation. The country has experienced tremendous economic growth in the past few years, with more than a doubling of its GDP between 2003 and 2007.

Vicente Perez has 18 years of experience in the seafood sector in Chile and internationally and has for the past 15 years worked as a CEO for Congelados Pacifico S.A. in Chile, focusing on both salmon farming and whitefish capture and processing. Perez' other work experience includes sectors like shipping, cold storage and feed production. He has served as a board member, partner or/and an executive of various companies in the extractive fishing sector, with operations in Chile and abroad with great emphasis on the international aspect of the industry.

Perez holds a Bachelor Degree in Business Administration from the University of Tarapaca, Chile.

Glitnir is a Nordic bank, with headquarters in Iceland and operations in 10 countries. The bank's home markets are Iceland and Norway while overseas markets include Finland, Sweden, UK, Luxembourg, US, Canada, China and Russia.