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

Landsbankinn hf. : Offering of covered bonds

Landsbankinn  will offer covered bonds for sale  via auction held on Tuesday 10
October at 15:00. Two inflation-linked series, LBANK CBI 24 and LBANK CBI 28 and
two  non-indexed series, LBANK CB 21 and LBANK  CB 23, will be offered for sale.
LBANK CB 23 is a new benchmark series.

In connection with the auction, a covered bond exchange offering will take place
where  holders of the non-indexed series LBANK  CB 17 can sell the covered bonds
in  the series  against covered  bonds sold  in the above-mentioned auction. The
price of the bonds in the series LBANK CB 17 is predefined and is decided by the
yield 5.667% that equals the clean price 100.0000 (the dirty price is 105.9000).

Landsbankinn  Capital Markets will manage  the auction. For further information,
please call +354 410-7330 or email verdbrefamidlun@landsbankinn.is.


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