Landsbankinn hf. - Changes board/management/auditors

Landsbankinn hf. : Lilja Björk Einarsdóttir hired as CEO of Landsbankinn

Lilja Björk Einarsdóttir, a 43 year engineer, has been hired as the new CEO of
Landsbankinn. Lilja will assume the position on 15 March.

Helga Björk Eiríksdóttir, Chairman of the Board of Directors: "The Board of
Directors is pleased to welcome Lilja to Landsbankinn. We believe her experience
and knowledge will be very useful to the Bank. Landsbankinn's position is strong
and it has highly capable employees. Financial undertakings currently face many
challenges in their operating environment and competition is tough. Lilja is a
strong leader whom we trust to direct Landsbankinn to improve even further its
operation and performance. The Bank's strategy is clear. Landsbankinn is a
financial partner to its customers, it operates in harmony with its environment
and aims to be exemplary.

Lilja completed a degree in mechanical and industrial engineering from the
University of Iceland in 1998 and an M.Sc. in financial engineering from the
University of Michigan, Ann Arbor, in 2003.

Lilja is an independent advisor and director. In 2008 to 2016, Lilja directed
the operation, asset management and recovery of the assets of old Landsbanki
Íslands, LBI ehf., in London. In 2005 to 2008, she worked as an analyst and
later managing director at Landsbanki Íslands hf. in London, responsible for the
daily operation and development of support functions, amongst other things.
Lilja previously worked for consulting firm Marsh & McLennan from 2003 to 2005
for such clients as the Ford Motor Company, as an expert in planning and
creating risk models for the insurance and treasury departments.

Lilja Björk Einarsdóttir: "I look forward to joining Landsbankinn, to getting to
know the Bank's employees, its customers and partners. I will build on the good
work done in recent years. I am optimistic about Landsbankinn's future and
intend to do my part to ensure that the Bank continues to provide customers with
convenient service in an efficient manner."

Lilja is married to Dr. Júlíus Atlason, PhD in engineering, with whom she has
three children.

The position of CEO of Landsbankinn was advertised on 10 December 2016 and 43
applications were received. Consulting firm Capacent managed the hiring process.

For further information contact:

Rúnar Pálmason, Public Relations, pr@landsbankinn.is, tel: +354  410 6263 /
899 3745

Hanna Kristín Thoroddsen, Investor Relations, ir@landsbankinn.is, tel:
+354  4107310


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