Orkuveita Reykjavíkur - Company Announcement

Unbundling of Reykjavik Energy Does not Affect Credit Rating

Reykjavik, 2013-12-04 13:39 CET (GLOBE NEWSWIRE) -- Following reports of the
imminent unbundling of Reykjavik Energy‘s (RE - Orkuveita Reykjavikur)
operations, as instructed by amendments to law 65/2003 that come to effect
January 1st 2014, Icelandic rating company Reitun has issued a new credit
rating report on RE. 

Reitun's study of RE's unbundling - including scenario and sensitivity studies
- have led to the conclusion that RE's credit rating is unchanged, B+ with
positive outlook. 

Attached is Reitun‘s report, only issued in Icelandic.

Attachments:

Matsskyrsla Reitunar - Orkuveita Reykjavikur des 2013.pdf