Arion Bank hf. - Company Announcement

Arion Bank completes bill offering

Arion Bank completed an offering of 6-month bills today. Offers totaling ISK
900 million were received and offers of ISK 780 million were accepted at 5,25%
flat rates. The bills are scheduled to be admitted to trading on Nasdaq Iceland
at the end of January. 



For further information please contact Haraldur Gudni Eidsson of Arion Bank´s
communicatios division at haraldur.eidsson@arionbanki.is, or tel: +354 444 7108