Landsvirkjun - Company Announcement

Standard & Poor‘s upgrades Landsvirkjun´s rating

Standard & Poor's credit rating agency has upgraded Landsvirkjun‘s rating by
one notch to BB+ from BB. The rating action follows Standard & Poor's upgrade
for the Republic of Iceland from July 17, 2015 to BBB from BBB-. 

Reykjavik, July 22, 2015

For further information please contact Rafnar Larusson, CFO Phone nr. +354 515
9000 or by email: rafnar@lv.is

Attachments:

Landsvirkjun_Research Update_Jul-23-2015.pdf