Landsbankinn hf. - Company Announcement

Landsbankinn hf. concludes sale of covered bonds

Today, Landsbankinn concluded an offering of two series of covered bonds. In
total, bids were received for the amount of ISK 4,960m and bids were accepted
for ISK 560m. 

LBANK CBI 22, an inflation-linked series listed on Nasdaq Iceland, was tapped
for ISK 560m at 3.20% yield. Landsbankinn has previously issued ISK 13,680m in
the same series. Following the tap issuance, the total amount issued will be
ISK 14,240m. 

All bids in LBANK CB 19 were rejected.

The bonds are scheduled to be admitted to trading on Nasdaq Iceland on 6 April
2016 with Kvika acting as market maker. 

The covered bonds are issued in accordance with a license from the Financial
Supervisory Authority (FME), with reference to act. no. 11/2008 and FME‘s rules
no. 528/2008. Further information on the bonds and the cover pool is available
on Landsbankinn‘s website, www.landsbankinn.is/covered-bonds.