Íbúðalánasjóður - Company Announcement

Moody's Downgrades HFF to Aa1 following the Sovereign Downgrade of Iceland

On May 20th 2008, Moody's Investors Service downgraded the Aaa issuer rating
and the local currency rating of the Housing Financing Fund (HFF) to Aa1. The
outlook is stable. 

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

Attached is Moody´s official release.

Attachments:

mis 20may 2008.pdf