Arion Bank hf. - Company Announcement

Result of Arion Bank hf. covered bond auction

Yesterday Arion Bank hf. concluded an auction of three covered bonds listed on
Nasdaq OMX Iceland. 

All bids were rejected on this occasion.

The total amount of orders amounted to ISK 5,780m.

For further information please contact Haraldur Gudni Eidsson of Arion Bank's
Communications division at haraldur.eidsson@arionbanki.is, or tel. +354 444
7108.