Össur hf. - Company Announcement

Completion of the Offering of 29,500,000 new shares

Not for release, publication, or distribution in Australia, Canada,
                     Japan or the United States.


                                         Press release from Össur hf.

                                Reykjavik, 3 November 2009; GMT 07:30


Completion of the Offering of 29,500,000 new shares


The offering (the "Offering") of  29,500,000 new Össur hf.  ("Össur")
shares (the  "New Shares")  has been  successfully concluded  via  an
accelerated bookbuilding.
Reference is also made to  stock exchange announcement of 2  November
2009.

The offer price is DKK 5.00 per New Share, raising gross proceeds  to
Össur of DKK 148 million. (USD 29 million).

The Offering was made to institutional and other qualified  investors
in Denmark and internationally.

Capital increase

The New Shares to be issued in connection with the Offering represent
approximately 7.0%  of Össur's  registered share  capital before  the
capital increase and will account  for approximately 6.5% of  Össur's
registered share capital upon completion of the capital increase.
After the capital increase, the  share capital of Össur will  consist
of 452,500,000 shares of nominal ISK 1 each, equivalent to a  nominal
value of ISK 452,500,000.

Expected timetable

Date of payment against delivery: 6 November 2009
Date of  registration  of  the  capital  increase  in  the  Icelandic
Register of Enterprises: 6 November 2009
Date for admission  for trading  and official listing  of New  Shares
under the existing ISIN code: 9 November 2009

The New Shares will rank pari  passu with existing Össur shares.  The
New Shares  will be  registered in  the  name of  the holder  in  the
company's register of shareholders and be issued and registered  with
the Icelandic Securities Depository HF. and VP Securities A/S.

No shares, including the New Shares, carry or will carry any  special
rights. The New  Shares will  be negotiable instruments  and will  in
every respect carry the  same rights as  the existing shares.  Rights
conferred by the  New Shares,  including voting  rights and  dividend
rights, will  apply  from  the  time when  the  capital  increase  is
registered with the Icelandic Register of Enterprises.

Trading with Icelandic financial instruments is currently subject  to
Icelandic Foreign Exchange  Rules. The  Central Bank  of Iceland  has
granted exemptions to  the rules  allowing certain  transfers of  and
trade in Össur shares. Investors  domiciled outside Iceland will,  in
general, be able to trade the New Shares freely on the Danish market.
More detailed information on the possibilities to transfer and  trade
Össur    shares    can     be    found     on    Össur's     website:
www.ossur.com/investors.

Further   information   can    be   found    on   Ossur's    website:
www.ossur.com/investors.

Össur contacts:

Jon Sigurdsson, President & CEO, Tel: +354 515-1300
Hjorleifur Palsson, CFO, Tel: +354 515-1300
Sigurborg Arnarsdottir, IR Manager, Tel: +354 664-1044

Össur (OMX: OSSR)  is a  global leader  in non-invasive  orthopaedics
that help people  live a  life without limitations.  Its business  is
focused on  improving  people's  mobility  through  the  delivery  of
innovative  technologies  within  the  fields  of  braces,  supports,
prosthetic limbs and compression therapies. A recognized  "Technology
Pioneer",  Össur  invests  significantly  in  research  and   product
development; its award-winning designs ensuring a consistently strong
position in the market. Successful patient and clinical outcomes  are
further empowered  via  Össur's  educational  programs  and  business
solutions. Headquartered in  Iceland, Össur has  major operations  in
the  Americas,  Europe   and  Asia,   with  additional   distributors
worldwide.

*****

This announcement  is not  an offer  for sale  of securities  in  the
United States. Securities may  not be offered or  sold in the  United
States absent registration  or an exemption  from registration  under
the US  Securities  Act  of  1933  as  amended.  The  issuer  of  the
securities has not registered, and  does not intend to register,  any
portion of the offering in the United States, and does not intend  to
conduct a public offering of securities in the United States.
This announcement is only being  distributed to and is only  directed
at (i) persons who  are outside the United  Kingdom or (ii) that  are
qualified  investors  within  the  meaning  of  Article  2(1)(e)   of
Directive 2003/71/EC ("Prospectus Directive") and that are either (x)
investment  professionals  falling  within   Article  19(5)  of   the
Financial Services and Markets  Act 2000 (Financial Promotion)  Order
205 (the "Order") or (y) high net worth companies, and other  persons
to whom  it  may lawfully  be  communicated, falling  within  Article
49(2)(a) to (d) of the Order (all such persons in (i) and (ii)  above
together being referred to as "relevant persons"). The New Shares are
only  available  to,  and  any  invitation,  offer  or  agreement  to
subscribe, purchase  or otherwise  acquire  such securities  will  be
engaged in  only with,  relevant persons.  Any person  who is  not  a
relevant person should not act or rely on this document or any of its
contents.
This announcement is an advertisement and is not a prospectus for the
purposes of the Prospective  Directive, together with any  applicable
implementing measures in  the relevant  home Member  State under  the
Prospectus Directive.In  any  EEA  Member  State  that  has  implemented  the  Prospective
Directive this  communication  is  only  addressed  to  and  is  only
directed at  qualified  investors in  that  Member State  within  the
meaning of the Prospectus Directive.

*****

This  announcement  contains   certain  forward-looking   statements,
including statements about the  Company's business and the  Offering.
Such forward-looking statements  are based on  data, assumptions  and
estimates that  the  Company considers  to  be reasonable.  They  may
change or be amended owing to uncertainties related to the  economic,
financial,  competitive  and   regulatory  environment,  and   market
conditions. In addition,  the Company's business  activities and  its
ability to meet its goals may be adversely affected if one or more of
the risks  that  are set  forth  in  the summary  document  that  was
prepared in connection with the listing of shares in Össur on  NASDAQ
OMX Copenhagen  in addition  to  the section  "Risk factors"  in  the
Company's  Annual  Report  2008  materialize,  or  if  other   risks,
currently unforeseen or  considered insignificant, materialize.   The
Company does not undertake to meet or give any guarantee that it will
meet its  goals. Investors  are urged  in particular  to pay  careful
attention to the risk factors described in the summary document  that
was prepared in  connection with the  listing of shares  in Össur  on
NASDAQ OMX Copenhagen in  addition to the  section "Risk factors"  in
the Company's Annual Report 2008.