Landsbankinn hf. - Company Announcement

Landsbankinn hf. concludes sale of covered bonds

Today, Landsbankinn concluded an offering of two series of covered bonds. In
total, bids were received for the amount of ISK 5,780m and bids were accepted
for ISK 4,760m. 

LBANK CB 19, a non-indexed series listed on Nasdaq Iceland, was tapped for ISK
660m at 6.66% yield. Landsbankinn has previously issued ISK 9,280m in the same
series. Following the tap issuance, the total amount issued will be ISK 9,940m. 

LBANK CBI 22, an inflation-linked series listed on Nasdaq Iceland, was tapped
for ISK 4,100m at 3.27% yield. Landsbankinn has previously issued ISK 9,580m in
the same series. Following the tap issuance, the total amount issued will be
ISK 13,680m. 

The bonds are scheduled to be admitted to trading on Nasdaq Iceland on 1 March
2016 with Kvika acting as market maker. 

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.