Landsvirkjun - Company Announcement

Landsvirkjun signs a new USD 200m Revolving Credit Facility

Landsvirkjun (The National Power Company) is pleased to announce that it has
signed a new USD 200m multi-currency revolving credit facility (the "Facility")
on 22 December 2015. The Facility has a 3-year tenor with two (1-year)
extension options and refinances its USD 200m facility which was signed in 2011
and had a maturity of December 2016. The Facility will be used for general
corporate purposes. 

The Facility is provided by Landsvirkjun’s core relationship banks and was led
by Barclays Bank PLC ("Barclays"), Citigroup Global Markets Limited ("Citi"),
Íslandsbanki hf. ("Islandsbanki") and Merchant Banking, Skandinaviska Enskilda
Banken AB (publ) ("SEB") as Coordinators and Bookrunners. Arion Bank hf, ING
Bank Belgium SA/NV and J.P. Morgan joined the Facility as Mandated Lead
Arrangers. 

Landsvirkjun is an energy company owned by the Icelandic State. The company
produces electricity from renewable hydro and geothermal sources. Landsvirkjun
produces about 70% of all electricity in Iceland and is the country's biggest
electric generator. The company is also a leader in sustainable energy
generation and encourages transparency, innovation and technological
development. 





For further information, please contact:
Landsvirkjun: Rafnar Larusson, CFO +354 515 9000
Barclays: Keith Taylor +44 20 7773 2353
Citi: Richard Basham +44 20 7986 6006
Islandsbanki: Hjortur Thor Steindorsson +354 440 4000
SEB: Michael Dicks +44 20 7329 6679