Company announcement no. 21/2010 At the annual general meeting of Føroya Banki on Monday, March 29, 2010, the shareholders • Approved the Annual Report for 2009 and the allocation of net profit • Approved the board of director's proposals on amendments of the Articles of Association, to change the name from Føroya Banki to BankNordik, by 76,14% for, and 23,86% against. • Re-elected Klaus Rasmussen, Jens Erik Christensen and Keld Søndergaard Holm to the Board of directors. Elected Nils Suni Sørensen to the Board of directors • Appointed NOTA, Løggilt Grannskoðanarfelag P/F, together with PricewaterhouseCoopers Denmark as external auditors • Renewed the authorisation of Føroya Banki to acquire up to 10% of its own shares Immediately after the annual general meeting the board of directors adjoined to elect its chairman and vice chairman respectively. Klaus Rasmussen continues as chairman and Jens Erik Christensen continues as vice chairman. The Board of Directors of Føroya Banki hereafter consists of: • Klaus Rasmussen, chairman of the board • Jens Erik Christensen, vice chairman of the board • Keld Søndergaard Holm, board member • Nils Suni Sørensen, board member • Sigmar B. Jacobsen, board member elected by the employees • Olav Enomoto, board member elected by the employees The election of employee board members will take place on April 22, 2010. The result of the election will be made available on April 27, 2010. Immediately hereafter the elected candidates will join the board. Yours faithfully Føroya Banki Board of director's secretariat Bjarki Mohr Arne Mikkelsen