Arion Bank hf. - Company Announcement

Offering by Arion Bank of 6-month commercial papers - ARION 160520

Arion Bank is holding an offering of commercial papers on Tuesday 17 November
2015. The instruments are 6-month commercial papers maturing on 17 May 2016. 
The offering is being arranged by Arion Bank - Capital Markets.  Offers shall
be submitted by e-mail to verdbrefamidlun@arionbanki.is before 4:00 p.m. and
the payment and settlement date is 20 November 2015. 

For further information please contact Haraldur Gudni Eidsson of Arion Bank's
Communications division at haraldur.eidsson@arionbanki.is, or tel. +354 856
7108.