Orkuveita Reykjavíkur - Company Announcement

Reykjavík Energy establishes bond-issuance platform

Reykjavík, 2016-10-28 18:04 CEST (GLOBE NEWSWIRE) -- The Board of Directors at
Reykjavik Energy (OR) has agreed to the establishment of a platform to issue
bonds and other short-term notes for a total outstanding amount of ISK 50
billion. OR’s debt issuance forecast amounts for up to ISK 16 billion from
October 24th 2016 to year-end 2017. Financing can be in the form of bonds,
short-term notes or bank loans. The above is consistent with OR’s approved
forecast. 

Note: Earlier publication of this announcement didn't include this English
version of it.