Islandsbanki hf. : Íslandsbanki sells commercial paper

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| Source: Íslandsbanki hf.
Íslandsbanki  hf. has today sold 6 month commercial paper. The total issuance in
the  series cannot exceed ISK 1.5bn in nominal terms. The auction was structured
so  that bidders submitted bids at predetermined  rate (price), at a simple rate
of 5.95% (price: 97.0642).

Bids  for  ISK  840,000,000 were  accepted.  Prior  to  the  auction  the  total
outstanding commercial paper amounted to ISK 7.88bn.

The commercial paper was sold to a broad group of investors. Trading is expected
to commence on 15. April 2014 on the Nasdaq OMX Iceland.

For further information:

  * Investor Relations - Tinna Molphy, tinna.molphy@islandsbanki.is and tel:
    +354 440 3187
  * Media Relations - Dögg Hjaltalín, dogg.hjaltalin@islandsbanki.is and tel:
    +354 440 3925.


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