Landsbankinn hf. - Company Announcement

Landsbankinn hf. concludes sale of covered bonds

Today, Landsbankinn concluded a private placement of three series of covered
bonds. In total bids were received for the amount of ISK 3,360m and bids were
accepted for ISK 2,620m. 

LBANK CB 17, a non-indexed series listed on Nasdaq Iceland, was tapped for ISK
400m at 6.25% yield. Landsbankinn has previously issued  ISK 1,400m in the same
series. Following the tap issuance, the total amount issued will be ISK 1,800m. 

LBANK CB 19, a non-indexed series listed on Nasdaq Iceland, was tapped for ISK
1,280m at 6.35% yield. Landsbankinn has previously issued  ISK 3,760m in the
same series. Following the tap issuance, the total amount issued will be ISK
5,040m. 

LBANK CBI 22, an inflation-linked series listed on Nasdaq Iceland, was tapped
for ISK 940m at 2.70% yield. Landsbankinn has previously issued  ISK 7,740m in
the same series. Following the tap issuance, the total amount issued will be
ISK 8,680m. 

The bonds are scheduled to be admitted to trading on Nasdaq Iceland on 5
November 2015 with Kvika acting as market maker. 

The covered bonds are issued in accordance with a license from the Financial
Supervisory Authority (FME), with reference to act. no. 11/2008 and FME‘s rules
no. 528/2008. Further information on the bonds and the cover pool is available
on Landsbankinn‘s website, www.landsbankinn.is/covered-bonds.