Landsbankinn hf. - Other information disclosed according to the rules of the Exchange

Landsbankinn hf. : Covered bond offering results

Today,  Landsbankinn concluded  a covered  bond auction  where four  series were
offered for sale.

In  total, 29 bids  were received  in the  auction for  the total  amount of ISK
3,540m.

A  total  of  5 bids  for  ISK  400m were  received in the series LBANK CB 19 at
5.28-5.30% yield. No bids were accepted in the series.

A  total  of  4 bids  for  ISK  220m were  received in the series LBANK CB 21 at
5.29%-5.31% yield. No bids were accepted in the series.

A total of 11 bids for ISK 1,700m were received in a new benchmark series, LBANK
CBI  24 at 2.95%-3.14% yield. Bids  for the amount  of ISK 540m were accepted at
2.98% yield. In addition the series will be tapped for ISK 960m for bond lending
purposes  in relation  to market-making.  The total  amount issued in the series
will be ISK 1,500m.

A  total of 9 bids  for ISK 1,220m were  received in the  series LBANK CBI 28 at
2.84%-2.90% yield.  Bids for  the amount  of ISK  1,100m were accepted at 2.88%
yield. Following the tap issuance, the total amount issued in the series will be
ISK 6,920m.

The  bonds are scheduled to  be admitted to trading  on Nasdaq Iceland on 16 May
2017. Arion banki, Islandsbanki and Kvika act as market makers for covered bonds
issued by Landsbankinn.

The  covered bonds are  issued in accordance  with a license  from the Financial
Supervisory  Authority (FME), with reference to act. no. 11/2008 and FME's rules
no.  528/2008. Further information on the bonds  and the cover pool is available
on Landsbankinn's website, www.landsbankinn.is/covered-bonds.


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