LBI ehf. (formerly Landsbanki Íslands hf.) and PricewaterhouseCoopers (PwC) hereby make known that an agreement has been reached with the effect that LBI´s ehf. case against PWC, no. E-3162/2012, which has been in process before the Reykjavík District Court, has been cancelled.

In the assessment of LBI ehf. and PwC the conclusion resulting from this settlement is acceptable under the circumstances. It will avoid unforeseeable expenditures arising from continuing litigation for an unpredictable period, enabling the parties now to concentrate better on their day-to-day activities.