Kaupthing Edge Chooses AboveNet's WDM and IP Transit Service

LONDON, April 30 /PRNewswire/ --

- Implementing an AboveNet WDM and IP Transit Service, Kaupthing Edge has
Launched its Online Retail Banking Arm in the UK.

AboveNet Communications UK Ltd., a leading provider of fibre
optic connectivity solutions for business and carriers and a subsidiary of
AboveNet Inc., today announced its IP Transit and Metro-WDM service
provisioning for Kaupthing Edge, the online retail banking arm of Kaupthing,
a leading northern European bank offering integrated financial services for
business. AboveNet's services have provided the connectivity infrastructure
to support the successful launch of Kaupthing's new online banking offering
in the UK, Kaupthing Edge.

Following the launch of its online retail banking service in
Sweden, Norway and Finland, Kaupthing Edge looked to replicate this success
in the UK. To enable this, the bank recognised the need to implement a
secure, reliable network infrastructure that would support the vast amount of
financial information accessed on a daily basis. Subsequently, Kaupthing Edge
deployed AboveNet's Metro-WDM service which, utilising Nortel's OM5000 series
equipment, enables a robust, scalable wavelength-based solution and provides
Kaupthing Edge access to hundreds of gigabits of capacity between core
metropolitan sites. Predicting a large volume of online customers, Kaupthing
Edge also chose AboveNet's Tier-1 IP Transit service to cope with the demands
for fast and reliable Internet banking.

As a Tier-1 Transit provider, AboveNet operates one of the
most modern IP networks. With advanced routing capabilities, rich peering
fabric and spare capacity allowing massive scalability, Kaupthing Edge and
its customers can now experience high speed Internet access with outstanding
levels of performance and stability. AboveNet offers its customers true
bandwidth on demand, operating its network with 100% headroom ensuring
additional bandwidth is readily available when or if required. This means
that Kaupthing Edge customers can take advantage of AboveNet's IP Transit
service to provide low latency, high performance connectivity resulting in an
unrivalled Internet banking experience.

AboveNet's sales director, Alan Berryman, commented, "With
many of the world's largest commercial banks reliant on AboveNet's IP Transit
network to enable central business operations such as online banking,
AboveNet's expertise and service quality within the finance sector are well
proven."

"Kaupthing Edge is committed to providing our customers the most
efficient, reliable and secure infrastructure possible," said John
Echavarria, director of IT at Kaupthing Edge. "AboveNet's IP Transit and WDM
solution proved an obvious choice to help deliver Kaupthing Edge. Our
customers can rest assured that their financial information is available on
demand 24x7, with the highest levels of security and data protection in
place."

About AboveNet, Inc.

AboveNet, Inc. provides fibre connectivity solutions for business and
carriers. Its private optical network delivers key network and IP services in
and among 14 top U.S. metro markets and London. AboveNet's network is widely
used in demanding markets such as financial services, media, health care and
retail.

About Kaupthing Bank

Kaupthing Bank offers comprehensive commercial and investment banking
services to individuals, companies and institutional investors. The Bank is a
leading player in all the main areas of the Icelandic financial market, and
in addition to Iceland, the Bank's key markets are Denmark and the United
Kingdom. The Bank focuses on the growth and development of its international
activities and aims to be one of the leading investment banks in northern
Europe.

Kaupthing Bank operates in thirteen countries with its headquarters
located in Reykjavík. The Bank's main subsidiaries are FIH Erhvervsbank in
Denmark, Kaupthing Singer & Friedlander in the United Kingdom, Kaupthing Bank
Sverige, Kaupthing Bank Luxembourg, Kaupthing Bank in Finland, Norvestia Oyj
in Finland, Kaupthing New York, Kaupthing Switzerland, Kaupthing Bank Belgium
and Kaupthing Bank Norge in Norway. The Bank also has activities in Isle of
Man, the Dubai International Financial Centre (DIFC) and the Qatar Financial
Centre (QFC). As of 31 December 2007 the number of full-time equivalent
positions was 3,334 at Kaupthing Bank and its subsidiaries.
http://www.kaupthing.com

About Kaupthing Edge

Kaupthing Edge is the trading name of Kaupthing Bank hf, Kaupthing Singer
and Friedlander's online retail financial services offering. In February
2008, it launched a market leading instant access savings account and fixed
term deposit accounts in the UK.

Kaupthing Edge is now present in Norway, Sweden, Finland, United Kingdom,
Germany and Belgium with plans to extend during the year in additional
territories.