Landsbankinn hf. - Other information disclosed according to the rules of the Exchange

Landsbankinn hf.: Covered bond offering results

Today,  Landsbankinn concluded  a covered  bond auction  where four  series were
offered for sale.

In  total, 30 bids  were received  in the  auction for  the total  amount of ISK
3,860m.

A  total  of  2 bids  for  ISK  120m were  received in the series LBANK CB 21 at
5.18%-5.20% yield. No bids were accepted in the series.

A total of 6 bids for ISK 540m were received in a new benchmark series, LBANK CB
23 at 5.20%-5.34% yield. Bids for the amount of ISK 280m were accepted at 5.30%
yield.  In addition  the series  will be  tapped for  ISK 960m for  bond lending
purposes  in relation  to market-making.  The total  amount issued in the series
will be ISK 1,240m.

A  total of 11 bids for  ISK 1,800m were received in  the series LBANK CBI 24 at
2.60%-2.65% yield. Bids for the amount of ISK 400m were accepted at 2.61% yield.
Following  the tap issuance, the  total amount issued in  the series will be ISK
9,020m.

A  total of 11 bids for  ISK 1,400m were received in  the series LBANK CBI 28 at
2.54%-2.57% yield.  Bids for  the amount  of ISK  1,040m were accepted at 2.55%
yield. Following the tap issuance, the total amount issued in the series will be
ISK 19,320m.

The  bonds are  scheduled to  be admitted  to trading  on Nasdaq  Iceland on 23
November  2017. Arion banki,  Islandsbanki and  Kvika act  as market  makers for
covered bonds issued by Landsbankinn.

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.


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