Arion Bank hf. - Other information disclosed according to the rules of the Exchange

Arion Bank completes commercial papers offering

Today Arion Bank completed an offering of 12-, 6- and 5-month commercial papers. In total, 32 bids were received for the total amount of ISK 5,900 million and offers worth ISK 900 million were accepted.

The 5-month series attracted 10 bids totaling ISK 1,200 million at a flat rate of 4.29% - 4.40%. Bids amounting to ISK 280 million at 4.33% flat rates were accepted.

The 6-month series attracted 19 bids totaling ISK 4,380 million in total at a flat rate of 4.25% - 4.50%. Bids amounting to ISK 620 million at 4.34% flat rates were accepted.

The 12-month series attracted 3 bids totaling ISK 320 million in total at a flat rate of 4.40% - 4.65%. All bids were rejected.

The commercial papers are scheduled to be admitted to trading on Nasdaq Iceland 20 November.

For further information please contact Haraldur Gudni Eidsson of Arion Bank's Communications division at haraldur.eidsson@arionbanki.is, or tel. +354 856 7108