Arion Bank hf. - Company Announcement

Arion Bank completes bond offering

Yesterday Arion Bank completed an offering of covered bonds, in the series
Arion CBI19. Offers totalling ISK 1,940 million were received and offers worth
ISK 1,500 million were accepted at a yield of 2.5%. The Bank aims to get this
series admitted to trading on NASDAQ OMX Iceland. 



For further information please contact Haraldur Gudni Eidsson, Head of Arion
Bank's Communications division, at haraldur.eidsson@arionbanki.is , or tel.
+354 856 7108.