Arion Bank hf. - Company Announcement

Temporary relief from obligations of market maker

In light of the uncertainty which may be created following the advisory opinion
of the EFTA Court on case no. e-25/13 (Gunnar V. Engilbertsson v. Islandsbanki
hf.). which will be issued before  the opening of markets today, Arion Bank has
decided to temporarily relieve market maker MP banki of its contractual
obligations with regard to the Bank's covered bonds. This means that the market
maker is no longer obliged to submit bids and offers in the trading system of
NASDAQ OMX on 28 August. 



For further information please contact Haraldur Gudni Eidsson, head of Arion
Bank's Corporate Communications, at haraldur.eidsson@arionbanki.is, or tel.
+354 856 7108.