Arion Bank hf. - Company Announcement

Arion Bank repurchases NOK bonds

Arion Bank hf. (”Arion Bank”) has today repurchased NOK 59 million (nominal
value) of the NOK 500 million 2013/2016 bond at a price of 102.5 which
corresponds to a spread of 2.79% over NIBOR. Eight offers were received for a
total of NOK 171 million. Pareto Securities managed the transaction on behalf
of Arion Bank. 

For further information please contact Haraldur Gudni Eidsson, Head of Investor
Relations, haraldur.eidsson@arionbanki.is, tel: (+354) 444 7108.