Arion Bank hf. - Other information disclosed according to the rules of the Exchange

Arion Bank completes commercial papers offering

Today Arion Bank completed an offering of 6- and 5-month commercial papers. In total, 13 bids were received for the total amount of ISK 2,340 million and offers worth ISK 1,640 million were accepted.

The 5-month series attracted 3 bids totaling ISK 300 million at a flat rate of 4.79% - 4.95%. No bids were accepted at this time.

The 6-month series attracted 10 bids totaling ISK 2,040 million in total at a flat rate of 4.75% - 4.95% Bids amounting to ISK 1,640 million at 4.85% flat rates were accepted.

The commercial papers are scheduled to be admitted to trading on Nasdaq Iceland 20 November.

For further information please contact Haraldur Gudni Eidsson of Arion Bank's Communications division at haraldur.eidsson@arionbanki.is, or tel. +354 856 7108