Arion Bank hf. - Company Announcement

Arion Bank pays off subordinated loan

Arion Bank completed the early repayment of a subordinated foreign currency
loan today, which the Bank took from the Icelandic government in 2010 and 2011.
The amount repaid is the equivalent of ISK 9 billion and forms part of Arion
Bank’s debt management strategy. 

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