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, 27 bids  were received  in the  auction for  the total  amount of ISK
2,360m.

A  total  of  5 bids  for  ISK  180m were  received in the series LBANK CB 19 at
5.27-5.33% yield. Bids for the amount of ISK 120m in the series were accepted at
5.28% yield.  Following the tap issuance, the  total amount issued in the series
will be ISK 17,080m.

A  total  of  8 bids  for  ISK  620m were  received in the series LBANK CB 21 at
5.28%-5.34% yield. Bids for the amount of ISK 580m were accepted at 5.30% yield.
Following  the tap issuance, the  total amount issued in  the series will be ISK
4,200m.

A  total of  6 bids for  ISK 640m were  received in  the series  LBANK CBI 22 at
3.25%-3.30% yield.  All  bids  in  the  series  were  accepted  at  3.30% yield.
Following  the tap issuance, the  total amount issued in  the series will be ISK
20,500m.

A  total of  8 bids for  ISK 920m were  received in  the series  LBANK CBI 28 at
2.99%-3.04% yield. Bids for the amount of ISK 580m were accepted at 3.00% yield.
Following  the tap issuance, the  total amount issued in  the series will be ISK
5.820m.

The  bonds are scheduled to be admitted to trading on Nasdaq Iceland on 12 April
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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