Marel hf. - Total number of voting rights and capital

Landsbankinn intends to sell up to 5% holding in Marel hf.

Landsbankinn hf. has decided to offer for sale up to 5% of its shareholding in
Marel hf. The already issued and outstanding shares in Marel, currently held by
Landsbankinn, are part of the bank's total shareholding of 6.84% in Marel. 

Landsbankinn Capital Markets manages the sale of the shares through an auction
whereby an authorised exemption to the issue of prospectus is applicable, in
accordance with the provisions of point 1 (c) of the first paragraph of Article
50 of Act No. 108/2007, on Securities Transactions. 

Minimum offers are for 100,000 shares in Marel at nominal value, with the
minimum offer price set at ISK 138 per share and the maximum offer price at ISK
142 per share. 

Under the terms of the auction, all approved offers will be awarded to
participants at the same price. The lowest accepted price determines the
auction price. Detailed terms of the auction, as well as offer forms, will be
available from Landsbankinn Capital Markets following closing of markets at the
NASDAQ OMX Iceland today, Monday. 

Offers will be accepted as of Tuesday, 13 March 2012, at 10:00 (GMT +0). The
time limit to submit offers expires on Wednesday, 14 March 2012, at 16:00 (GMT
+0). The outcome of the auction will be announced on the NASDAQ OMX Iceland
news system when the auction is completed. 



For further information, contact:

Helgi Thor Arason, Director of Capital Markets at Landsbankinn. Tel: +354 410
7335 

Hreiðar Bjarnason, Managing Director of Markets and Treasury at Landsbankinn.
Tel: +354 410 7313