Eyrir Invest ehf. - Company Announcement

EYRIR INVEST EHF. REPAYS ISSUED BONDS, EYRI O7 2, AND ISSUES A NEW CLASS OF BONDS, EYRI 11 1

Eyrir Invest repays today EYRI 07 2, with final maturity 20 April 2011.  These
bonds were private placements and not listed on any exchange, but registered
with The Icelandic Securities Depository. 

EYRI 07 2 has ISIN number IS0000015329. Total repayment is 3.150 m ISK (EUR 19
m) 

Eyrir issues a new class of bonds EYRI 11 1 with first issue dated today. The
aim is to issue up to 4 billion ISK (EUR 24 million) in EYRI 11 1, today´s
issue is 1.012 m (EUR 6 m). 

The new bonds mature on May 15th 2014 and carry interest payments every 12
months, with the first interest payment on May 15th 2012. The new bonds are
with interest terms of REIBOR +500 bps and covenants of a minimum equity ratio
of 25% as well as a limit on dividend payments to maximum of 50% of net
profits. Eyrir will apply for a listing of the new bonds before end of year
2011 in addition to its currently listed bonds EYRI 05 1 on Nasdaq OMX Iceland.
The new bonds are registered with The Icelandic Securities Depository. 

H.F. Securities is the arranger of the sale and issue of the new bonds.


Eyrir Invest is an international investment company that focuses on investments
in industrial companies that have the potential to become true global leaders. 
Eyrir Invest finances investment operations with equity and long term
financing.   Total assets are EUR 426 m at year end 2010 with an equity ratio
of 44%.    Eyrir Invest was founded in mid-year 2000.    www.eyrir.is