Íbúðalánasjóður - Company Announcement

Monthly report November 2013

The HFF has sold 266 properties this year

From the beginning of the year to the end of November, the HFF has sold 266
properties as opposed to 116 properties during the same period in 2012. In
addition, purchase offers for 109 properties have been accepted and bidders are
currently engaged in financing the purchases. The HFF has sold 841 properties
since the beginning of 2008. 

The Asset Management Division of the HFF is currently registering all the
Fund's properties that have not been rented with estate agencies. Property
preparation and registration have proven to be successful for already
advertised apartments. 

Out of the HFF's 2,607 properties, 1,239 have been rented and 222 are
considered completely uninhabitable. To emphasize, many of the properties
listed empty and habitable, do not in their current condition qualify rental
requirements. The Fund spends a maximum of ISK 1.5 million on renovations per
property to make it available for rent. Any property in need of repair or
renovations in excess of ISK 1.5 million will be put up for sale. The frequent
misconception that the HFF keeps numerous plausible rentals vacant it thus
false. 

Further information on the HFF's properties are listed in the monthly report.

Attachments:

monthy report november 2013.pdf