Íbúðalánasjóður - Company Announcement

Outlook on Iceland´s Housing Financing Fund Revised to Stable from Negative.

Outlook on Iceland´s Housing Financing Fund Revised to Stable from Negative,
Reflecting the outlook on the Republic of Iceland. 

Yesterday Nov. 24, 2017, Standard & Poor's Ratings Services revised the outlook
on the Housing Financing Fund (HFF), to stable from negative. At the same time,
the ratings BB/B on foreign currency and BBB-/A-3 on local currency were
affirmed. 

The revision in outlook reflects the outlook revision on the Republic of
Iceland, to stable from negative. 

Attached is S&P´s official release.