Íslandsbanki hf. - Company Announcement

Islandsbanki hf. : Transfer of ownership approved

As already announced, Glitnir has delivered the estate's 95% stake in
Íslandsbanki to the Central Bank of Iceland and the Icelandic Government as part
of its stability contribution this autumn. The Government previously owned a 5%
share in Íslandsbanki. The Competition Authority has approved the transaction
and Íslandsbanki is now wholly state-owned as a result.

The change in ownership will not affect the day-to-day operations of
Íslandsbanki, and the Bank's customers and employees will not notice any change
as a result of the transaction.

At the request of its owners, the Bank's Annual General Meeting has been
postponed until 19 April 2016.



For further information:

  * Investor Relations - Tinna Molphy, tinna.molphy@islandsbanki.is,  tel
    +354 440 3187.
  * Media Relations - Edda Hermannsdottir, edda.hermannsdottir@islandsbanki.is
    and tel: +354 440 4005.


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