Arion Bank hf. - Company Announcement

Arion Bank hf. completes bond offering

On Friday 18 January Arion Bank hf. completed its third non-indexed fixed rate
covered bond offering, issuing ISK 1,820 million worth of bonds in the series
Arion CB 15. The size of the series after the increase is ISK 4,340 million. 

The series is expected to be admitted for trading on NASDAQ OMX Iceland in
January. Further information regarding the listing will be available at a later
date. The bonds bear 6.50% nominal interest and mature in 2015. The yield is
6.50%. 



Further information: Haraldur Guðni Eiðsson, Corporate Communications at Arion
Bank, haraldur.eidsson@arionbanki.is. Mobile: 856 7108.