Press Release

25 November 2008

EDWIN COE ACTS FOR DEPOSITORS' ACTION GROUP RE ICELANDIC BANK

Edwin Coe LLP is acting for the main action group representing depositors of the collapsed Icelandic bank, Kaupthing Singer & Friedlander (Isle of Man) Limited, (KSFIOM). Head of litigation, David Greene, has been instructed to advise the group in relation to depositors' rights and any potential legal action after their negotiations with the Icelandic and Isle of Man Governments have so far failed to secure the return of their deposits.

Although depositors of Icelandic Banks in the UK are protected by the UK Government's compensation scheme (up to £50,000), UK savers in the Isle of Man are not covered by the pledge, and thousands of savers have been unable to access their savings on the island since the collapse of the Icelandic banks in early October.

David Greene commented, "We are part of the process by which depositors are seeking to recover their deposits. We are currently looking at what legal rights those with funds in the Isle of Man have and how we can help to protect their interests."

ENDS

For further information, please contact:

David Greene
t: +44 (0)20 7691 4000
e:

Debra Blik
t: +44 (0)20 7691 4009
e:

Edwin Coe was founded in 1913 and is ranked as a 'UK 200' law firm. It provides a full range of commercial legal services to a diverse range of clients both in the UK and overseas. Clients include public and private companies, multinationals, sovereign states, charities and unincorporated associations, and a significant number of private clients. The firm is recognised as a leading UK 'class action' litigation practice.

Edwin Coe LLP, 2 Stone Buildings, Lincoln's Inn, London WC2A 3TH Tel: 020 7691 4000 www.edwincoe.com