P/F Føroya Banki, preliminary announcement regarding initial public offering and sale of existing shares

P/F Føroya Banki makes an offering of 6,000,000 shares of DKK 20 through a
public offering to retail and institutional investors in the Faroe Islands,
Iceland and Denmark and an international offering to institutional investors
outside the United States. The selling shareholder is the Financing Fund of
1992. 

The price range is fixed at DKK 162 to DKK 189 per share. The price may in no
case exceed DKK 189. 

The subscription period will commence on, and include, 11 June to 19 June May
2007 at 5:00 pm. CET the latest. Please notice that the offering can be closed
earlier than 19 June 2007 however no sooner than 13 June at 5:00 pm. CET. 

Provided that the Copenhagen Stock Exchange approves the distribution of
shares, Føroya Banki is expected to be listed on the Copenhagen Stock Exchange
on 21 June 2007. 

The expected listing will take place in the ISIN code below: 

ISIN: FO0000000088
Name in the Official List: Føroya Banki
Orderbook ID:40854

In the Nordic List, Føroya Banki will be included in the MidCap segment.

For further information, please see the prospectus.