Føroya Banki P/F - Company Announcement

Føroya Banki's rating and stable outlook confirmed by Moody's

Føroya Banki's ratings confirmed by Moody's

Moody's yesterday confirmed the ratings of P/F Føroya Banki: 
Long term deposit rating:	A3
Short-term deposit rating: 	P-2
Financial strength rating:	C-
Outlook:		         Stable

“The outlook on all ratings is stable, reflecting the bank's strong local
franchise and solid financial fundamentals,” says Moody's in their published
Credit Opinion. 

In order to diversify the funding base Føroya Banki received a rating by
Moody's in May 2008. On this basis the Bank has issued two putable bonds with a
total principal amount of DKK 500 million and maturity up to three years. Issue
dates are December 1st 2008 and December 15th 2008. Nykredit arranged the
issuance, and the bonds have been sold to an institutional investor in a
private placement. The loan is an extra liquidity buffer for the Bank. 

Further information:
Janus Petersen, CEO, Tel. (+298) 330330; Johnny í Grótinum, Head of IR, Tel.
(+298) 223181 or E-Mail: ir@foroya.fo