Guernsey Interest Rates Still Climbing

by Carla Johnson, Investors Offshore.com, London

03 August 2007

Landsbanki Guernsey, the specialist offshore subsidiary of Landsbanki Islands, has today announced that it will be increasing the interest rates on its 2, 3, 4 and 5 year fixed rate bond funds. The 2 and 3 year funds will be paying 6.50% gross AER and the 4 and 5 year funds will be paying 6.31% gross AER from August 1st 2007. This puts the 2, 3 and 4 year funds at the top of the best buy tables.

The bonds are available to both individuals and corporate investors with interest paid either annually or at maturity, to suit their tax-planning needs.

Mark Sismey-Durrant, Director, Landsbanki Guernsey, comments: “Increasing our rates demonstrates our ongoing commitment to providing the best for our customers. We monitor and review our products continually to ensure that our customers are getting the best deal.”

The bonds are available for deposit amounts from GBP10,000 to GBP2 million and those wishing to invest can either contact the Bank for an application pack or download one from the website. For further information please visit www.landsbanki.co.gg

Landsbanki is a growing European bank with total assets of ISK 2,317 billion (EUR 26.4 bn) at 31 March 2007 and a market capitalisation of ISK 383 billion (EUR 4.4 bn) at 3 May 2007. Headquartered in Reykjavik, Iceland, Landsbanki Islands hf. is traded on the OMX Nordic Exchange Iceland under the symbol . Landsbanki is rated by Moody's (Aa3 / P-1 / C / Stable) and Fitch (A / F1 / B/C / Stable).

Building on its strong foundation in Iceland, Landsbanki has successfully extended its financial operations into new markets, focusing on serving mid-cap corporates in Europe. The bank's unique product line includes access to both debt and equity markets; its research department is among the most comprehensive in Europe, including some 90 analysts covering more than 800 European stocks locally. Landsbanki and its subsidiaries now operate in all major financial centres of Europe, and have North American representation in New York and Halifax. Through its extensive distribution network, Landsbanki has a strong platform to deliver targeted financial services based on local expertise.

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