BankNordik P/F - Fyrirtækjafréttir

On February 16th 2011 Moody's initiated a review for possible down grade of the Danish Bank sector incl. BankNordik following the use of the Bank Package III on Amagerbanken

Moody's Investor Service today announced that their review has been concluded
and that 

- Outlook on C- BFSR (Baa2 BCA) changed to negative from stable

- Long-term bank deposit rating downgraded to Baa1 from A3; the rating is
placed on review for possible downgrade. During the review period 

we will reassess the probability of support from the Faroe Islands local
government (rated Aa2 stable) to the bank. 

- P-2 short-term bank deposit rating on review for possible downgrade

- Aaa government-guaranteed debt is not affected"


         For further information:
         Janus Petersen, CEO Tel. +298 330 340