Íbúðalánasjóður - Company Announcement

New Division Heads at the Housing Financing Fund (HFF).

This past October, the Board of HFF decided to change the Fund´s organizational
chart. Presently, there are four major divisions: Finance, Asset Management,
Corporate Services, and Customer Service. Additionally, there are three support
divisions: Information Technology, Services and Marketing, and Legal Services. 
Positions for the four major divisions were advertised and three have been
filled. 

Agust Kr. Bjornsson, head of Asset Management has a BSc. degree in Civil
Engineering Technology from the Reykjavik Technical College (1985). Mr.
Bjornsson has extensive experience associated with property management,
construction, and organization of property companies. Additionally, he has
experience in public administration and planning and land development. 

In 2004 - 2009, Mr. Bjornsson was the CEO of Akraland ehf, a subsidiary of
Landic Property, and was also temporarily CEO of the company 101 Skuggahverfi
hf. These companies managed the planning and construction in one of Gardabaer´s
neighborhoods and construction of 200 apartments in one of Reykjavik´s
neighborhoods. In 1995- 2004, Mr. Bjornsson was the major of Sudavik village,
organizing reconstruction after a devastating snow avalanche there in 1995,
buying and selling of property, and handling relations with public authorities.
Prior to 2004, Mr. Bjornsson worked as project manager at the construction
company Hagvirki hf., was a board member of Frosti hf. 1996-2002, of Sudavik´s
Saving Bank 1996-1999, and numerous committees associated with various
municipalities. 

Gudrun Soffia Gudmundsdottir, head of Customer Services has a B.A. in Business
Administration from the University of Akureyri (2008). Mrs. Gudmundsdottir has
been employed at HFF since 1996, and prior to that, at the State Housing Board.
Hence, she has extensive knowledge and experience in various fields, having
worked in most of HFF´s divisions, most recently as deputy division head. 

Ulfar Thor Indridason, head of Corporate Services, has a BA. in Business
Administration from the University of Iceland in addition to having attended
numerous seminars in the field of project management, risk management,
negotiation and company valuations. 

In the past seven years, Ulfar has been an employee of Landsbanki hf, (later
NBI hf.), in the fields of lending and financial restructuring of companies.
During most of his time at Landsbanki, 2004-2008, Mr. Indridason was the head
of Specialized Lending. Additionally, he worked as a managing consulter
overseas in strategy formulation and corporate advisory. In 1992-2002 Mr.
Indridason, was the branch manager of Bunadarbanki, first in the town of
Selfoss and later in Kopavogur. As branch manager, he was responsible for
operation and staff management, asset, property and collection management, as
well as marketing and corporate advisory. In 1988-1992 Mr. Indridason
established and was the head of brokerage department of Bunadarbanki.