Íbúðalánasjóður - Company Announcement

Leigufélagið Klettur ehf, a subsidiary of the Housing Financing Fund, has employed a general manager

Bjarni Þór Þórólfsson has been employed to serve as the general manager of
Leigufélagið Klettur ehf, a subsidiary of the Housing Financing Fund.  Bjarni
has a M.Sc. degree in Economics from Copenhagen Business School and a B.Sc.
degree from California State University.  Bjarni has extensive management
experience in Iceland and abroad. His experience spans the financial sector,
the software sector and the energy sector. His last position was with Reykjavik
Geothermal. Bjarni has also been a university level lecturer. His initial tasks
include the hiring of employees as well as preparing the operation and opening
of an office. 



The main purpose of Leigufélagið Klettur ehf is to rent suitable residential
properties in Iceland as a long-term housing arrangement. The company will take
over 524 properties all over Iceland from the Housing Financing Fund. The
majority of the apartments are already being rented out. Leigufélagið Klettur
ehf and the Housing Financing Fund have come to the agreement that latter will
act as a property manager until Leigufélagið Klettur ehf is fully operational. 



Further questions should be directed to Ína Björk Hannesdóttir, the chairman of
the board of Leigufélagið Klettur ehf (ina@fjarmal.is / tel: 618-4497)