Orkuveita Reykjavíkur - Other information disclosed according to the rules of the Exchange

OR Auctions Indexed and Nominal Bonds on May 22nd

Reykjavík, 2017-05-16 18:17 CEST (GLOBE NEWSWIRE) -- <span lang="EN-US"
style="font-size: 11pt; font-family: Arial, sans-serif;">Monday May 22nd 2017
Orkuveita Reykjavíkur will conduct an auction of new bonds in three bonds
issues as can be seen below, they have all been admitted for trading on Nasdaq
Iceland.<o:p></o:p></span> 

<span lang="EN-US" style="font-size: 11pt; font-family: Arial,
sans-serif;">Category OR090546: Indexed annuities to almost 29 years.
Previously issued bonds with a nominal value of ISK
8,531,724,833.<o:p></o:p></span> 

<span lang="EN-US" style="font-size: 11pt; font-family: Arial,
sans-serif;">Category OR090524: Indexed annuities to almost 7 years. Previously
issued bonds with a nominal value of ISK 1,688,000,000.</span> 

<span lang="EN-US" style="font-size: 11pt; font-family: Arial,
sans-serif;"><span style="font-size: 11pt;">Category OR011222:</span><span
style="font-size: 11pt;"> coupons </span><span style="font-size: 11pt;">for
almost 5 and a half years. Previously issued bonds with a nominal value of ISK
850,000,000</span></span> 

<span lang="EN-US" style="font-size: 11pt; font-family: Arial, sans-serif;">The
investment banking division at Arion Bank is managing the issue and will
introduce it to possible investors. The issue will be closed with a so-called
"Dutch Method", where all bonds will be sold at a highest coupon accepted for
each tranche. Orkuveita Reykjavíkur reserves the right to accept offers
partially or in full, or refuse all offers.<o:p></o:p></span> 

<span style="font-family: Arial, sans-serif;">Results of the bond auction will
be officially announced the next business day.<o:p></o:p></span> 


         Contacts:
         
         Birgir Guðfinnsson, investment banking division at Arion Bank hf.
         Tel. 444-7337, e-mail: verdbrefamidlun@arionbanki.is
         
         Brynja Kolbrún Pétursdóttir, Head of Treasury, Planning and Analysis.
         Tel. 516-6100, e-mail: brynja.kolbrun.petursdottir@or.is
         
         Ingvar Stefánsson, CFO.
         Tel. 516-6100, e-mail: ingvar.stefansson@or.is