Íbúðalánasjóður - Company Announcement

Moody's Downgrades HFF to Baa1 following the Sovereign Downgrade of Iceland

On December 4th 2008, Moody's Investors Service downgraded the A1 issuer rating
and the local currency rating of the Housing Financing Fund (HFF) to Baa1. The
outlook is negative. 

HFF´s rating was downgraded following the corresponding downgrade of Iceland´s
sovereign rating. 

Attached is Moody´s official release.

Attachments:

hff press release 041208.pdf