Landsbankinn hf. - Company Announcement

Landsbankinn hf. : Covered bond offering results

Today,  Landsbankinn concluded  an offering  of two  series of covered bonds. In
total,  bids were received for  the amount of ISK  2,680m and bids were accepted
for ISK 980m.

LBANK  CBI 22, an inflation-linked  series listed on  Nasdaq Iceland, was tapped
for  ISK 980m at 3.35% yield. Landsbankinn  has previously issued ISK 14,520m in
the same series. Following the tap issuance, the total amount issued will be ISK
15,500m.

No bids in the non-indexed series LBANK CB 19 were accepted.

The  bonds are scheduled to be admitted  to trading on Nasdaq Iceland on 22 June
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 

[HUG#2021002]