Arion Bank hf. - Company Announcement

Arion Bank completes bond offering

Arion Bank completed an offering of a new series of covered bonds, Arion CBI19,
today. Offers totalling ISK 3,720 million were received and offers worth ISK
3,000 million were accepted at a yield of 2.84%. 

The Bank aims to get this series admitted to trading on NASDAQ OMX Iceland.

The bonds bear 2.50% indexed interest rates and mature in 2019.



For further information please contact: Bára Mjöll Thórdardóttir, Corporate
Communications, Arion Bank bara.thordardottir@arionbanki.is; Tel: (+354) 856
7159.