Lánamál ríkisins - Company Announcement

Moody’s publishes Issuer Comment on Iceland’s Baa3 /P-3 credit rating

Rating agency Moody's Investors Service has published an Issuer Comment
following Iceland's early part-prepayment of foreign debt. Moody's views the
transaction as a positive step but is of the opinion that capital account
liberalisation will remain challenging.

Attachments:

Moody s _March 2012.pdf