Landsvirkjun - Company Announcement

CORRECTION: Moody‘s upgrades Landsvirkjun´s ratings to Baa2 with stable outlook

Moody‘s credit rating agency has upgraded Landsvirkjun‘s ratings to Baa2 from
Baa3. Concurrently, Moody's has upgraded the company's unguaranteed ratings to
Ba1 from Ba2. All ratings have a stable outlook. The rating actions follows
Moody's upgrade for the Republic of Iceland from June 29, 2015. 

Reykjavik, July 1, 2015

For further information please contact Rafnar Larusson, CFO Phone nr. +354 515
9000 or by email: rafnar@lv.is

Attachments:

Landsvirkjun - Moodys - 1 July 2015.pdf