Íbúðalánasjóður - Company Announcement

The Housing Financing Fund's Condensed Interim Accounts, January - June 2008

The Condensed Interim Accounts for the period January 1 to June 30, 2008 has
been approved and signed by the Board of Directors of the Housing Financing
Fund (HFF) at it´s meeting yesterday 21 August 2008. The accounts have been
prepared in accordance with International Financial Reporting Standards (IFRS)
for interim accounts, IAS 34. 

According to the income statement, the net profit of the Fund amounted to ISK
466 million for six months ending June 30, 2008. Equity, according to the
balance sheet, amounted to ISK 20,655 million at the end of the period. The
capital ratio of the Fund, calculated according to stipulations according to
regulation on the Housing Financing Fund No. 544/2004, was 8.0%. The
calculation of the ratio is equivalent to the calculation of the capital ratio
of other financial institutions. The long-term goal of the Fund is to maintain
the ratio above 5.0%. 

For further information, please contact Guðmundur Bjarnason, Ívar Ragnarsson or
Ásta H. Bjarnadóttir at (+354) 569 6900.

Attachments:

6m newsrelease 2008.pdf

ils árshlutar 30 6 2008_enskur.pdf