BankNordik P/F - Company Announcement

BankNordik repays issued bonds before due date

Based on a satisfactory liquidity level, significantly above statutory
requirements, BankNordik has made an early repayment of bonds issued in 2008,
with final maturity in 2012. These bonds were private placements and
consequently not listed on any exchange, but registered in VP (The Danish
Securities Centre). These bonds are not state-guaranteed. 

The bonds are as follows:

ISIN DK0030121744 originally issued DKK 250mill. has been fully repaid.

ISIN DK0030121827 originally issued DKK 250mill. has been repaid with DKK
150mil. and the remaining amount is now DKK 100mill. 

The repayment is part of a plan to reduce BankNordik's external funding
exposure, in alignment with the Bank's internal surplus liquidity level. Since
December 2010, external funding has been reduced by a total of DKK 1.739bn. 

BankNordik was founded more than 100 years ago on the Faroe Islands. The
BankNordik Group operates banking activities in the Faroe Islands, Denmark and
Greenland, as well as insurance activities in the Faroe Islands and Iceland. In
Q4 2010 the Bank had a total balance of DKK 14.3bn. The Bank has more than 450
employees. BankNordik is subjected to the Danish Financial Supervisory
Authority and participates in the Danish Deposit Guarantee Fond. 


         For further information, please contact Investor Relations at
BankNordik, ir@banknordik.fo or tel. +298 330 330