Standard & Poor´s Lowers HFF´s Long Term Foreign Currency Rating to 'BBB-' ; Outlook Negative

Today, November 24, 2008, Standard & Poor´s Rating Services lowered the Housing
Financing Fund´s (HFF) long-term foreign currency rating to 'BBB-' from 'BBB'. 
The outlook is negative.

The 'BBB' long-term local currency rating was affirmed. The outlook is
negative. The 'A-3' short-term foreign and local currency ratings were
affirmed. 

These changes in HFF´s ratings were made following a change in ratings for the
Republic of Iceland. 

See attachment.