Össur hf. - Company Announcement

Conversion of Össur shares from Iceland to Denmark - Update

                                                  Össur Announcement no: 22/2010
                                                                 1 November 2010



At  the request of Össur, the Central Bank of Iceland has today granted approval
that   Össur  shares  acquired  before  1 November  2010 can  be  converted  and
transferred  from  the  Icelandic  market  to  the  Danish market. Prior to this
approval   only  shares  acquired  before  1 April  2009 could  be  transferred.
Conversion  and transfer of Össur shares from the Danish market to the Icelandic
market still needs special exemption from the Central Bank of Iceland.

Further  information on the  possibilities to convert  and trade in Össur shares
can be found on Össur's website: www.ossur.com/investors





[HUG#1457780]