Føroya Banki P/F - Company Announcement

Updating of ”Reconciliation Document”

Announcement 2/2010

Føroya Banki has on 11 January 2010 updated the initial “IFRS Reconciliation
Document” dated 4 May 2009. The initial version of the “IFRS Reconciliation
Document” describes among other things the effect on the group's equity and
result in DKK that is derived by the transition to IFRS by 1. January 2009. 

The updated version of the “IFRS Reconciliation Document” includes in addition
a description of the effect on the parent company's equity and result in DKK
that is derived by the parent company's transition to presentation of accounts
according to executive order no. 390 dated 21. May 2008 on financial reports
regarding credit institutions and investment service companies and others by 1.
January 2009. 

The updated version of the “IFRS Reconciliation” document displays, the effect
on the equity and result in DKK for the group and the parent company
respectively, that is derived from the transition to IFRS by 1. January 2009,
is the same. Attention is in this context drawn to the document's sum up
sections which are shown on page 18 and 39 respectively. 

FØROYA BANKI

Further information: 
Janus Petersen, CEO. Tel: +298 330 340

Attachments:

reconciliation_statement__updated_version.pdf