Payment for Guarantee Scheme in own shares


Company Announcement no. 2 / 2009

In October 2008 Føroya Banki decided to participate in a two-year guarantee
scheme for all deposits with and unsecured claims against all banks under the
supervision of the Danish FSA. The cost of this scheme for Føroya Banki was
estimated to DKK 30m in 2009 and DKK 30m in 2010. 

The cost incurred can be paid in cash or own shares of an equivalent amount.
The Board of Directors of Føroya Banki has decided, going forward, to pay the
cost in own shares. For this purpose Føroya Banki will buy own shares in the
market. 

For further Information
Janus Petersen, CEO, Føroya Banki, (+298) 330 330
Súni Schwartz Jacobsen, Managing Director, Føroya Banki, (+298) 330 330

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