Össur hf. - Company Announcement

Ossur Hf : Össur hf. initiates a "Safe Harbor" share buyback program on NASDAQ Copenhagen

Announcement from Össur hf. No. 48/2015
Reykjavík, 3 December 2015


 Össur hf. initiates a "Safe Harbor" share buyback program on NASDAQ Copenhagen



Össur  hf. has decided to initiate a  share buyback program on NASDAQ Copenhagen
that  will be  carried out  in accordance  with the  provisions of  the European
Commission's  Regulation  No.  2273/2003 ("the  Safe  Harbor  Regulation").  The
purpose  of the program is to reduce  the Company's share capital and adjust the
capital  structure  by  distributing  capital  to  shareholders in line with the
Company's  Capital Structure and Dividend Policy. The Company may purchase up to
5,000,000 shares  under the program, corresponding  to 1.1% of the current share
capital.  The total consideration  for shares purchased  under the program shall
not exceed USD 10 million (approx. DKK 70 million). The daily purchase shall not
exceed 25% of the average volume in the 20 trading days before the purchase. The
purchase  price shall not be higher than the price of the last independent trade
or the highest current independent bid, whichever is higher. The program will be
managed  by Nordea,  which shall  make its  trading decisions  independently and
without influence by the Company with regard to the timing of the purchases. The
Company's  purchases under the program shall be disclosed in accordance with law
and  regulations. The  program will  end no  later than 1 December 2016, but the
Company is entitled to discontinue the program at any time.

The  Company also reserves the right to  buy back shares in block trades outside
the  "Safe Harbor" program with the aim to maintain net interest bearing debt at
USD  50 - 140 million.  Such transactions  will only  be made in "open windows",
i.e.  within six weeks from the  publication of the Company's financial results,
and  when  no  insider  information  is  available.  Such  transactions  will be
announced immediately after they have been carried out.

According  to an  authorization granted  by the  Annual General Meeting in March
2015, the  Company  is  allowed  to  purchase  own  shares  of  up to 10% of the
Company's  share capital as  it stands each  time. The authorization states that
the  purchase price shall not  be higher than the  price of the last independent
trade  or  the  highest  current  independent  bid,  whichever is higher, on the
regulated  market where  the transaction  is carried  out. The  authorization is
valid until 12 March 2020.

The  Company's  market  making  agreement  with  SEB  Enskilda  Equities will be
suspended  with effect  from 1 January  2016 until the  completion of  the "Safe
Harbor" program. During that period the Company will not have a market maker for
Össur shares on NASDAQ Copenhagen.

Contact persons:

Jón Sigurðsson, President & CEO                                       Tel:
+354 515 1300
Sveinn Sölvason, CFO                                                       Tel:
+354 515 1300
Össur press releases by e-mail



If  you wish to  receive Össur press  releases by e-mail  please register at the
following web-site: http://www.ossur.com/investormailings

About Össur

Össur  (NASDAQ: OSSR) is a global  leader in non-invasive orthopaedics that help
people  live a  life without  limitations. Its business  is focused on improving
people's  mobility through  the delivery  of innovative  technologies within the
fields  of  braces,  supports  and  prosthetic  limbs.  A recognized "Technology
Pioneer",  Össur invests significantly in  research and product development; its
award-winning   designs   ensuring   a   consistently  strong  position  in  the
market.  Successful  patient  and  clinical  outcomes  are further empowered via
Össur's  educational programs and business solutions.  Headquartered in Iceland,
Össur  has major  operations in  the Americas,  Europe and Asia, with additional
distributors worldwide. www.ossur.com

Forward-Looking Statements



This press release includes "forward-looking statements" which involve risks and
uncertainties  that could cause actual results to differ materially from results
expressed or implied by these statements. Össur hf. undertakes no obligation and
does  not intend to update these forward-looking statements to reflect events or
circumstances occurring after this press release. You are cautioned not to place
undue  reliance on these forward-looking statements,  which speak only as of the
date  of this  press release.  All forward-looking  statements are  qualified in
their entirety by this cautionary statement.



[HUG#1970914]