New Bond Issue (OR09 2) admitted to trading 29 December 2009

Issuer: 
Orkukveita Reykjavíkur hf.
Bæjarhálsi 1, 110 Reykjavík, Iceland
ID No. 551298-3029

Date of admission to trading:
29.12.2009 

Symbol:
OR 09 2

ISIN-code:
IS0000019685

Orderbook ID:
72218

Bond type:
Annuity

Market:
OMX ICE CP Fixed Income

Size limit:
10,000,000,000 ISK

Amount admitted to trading 
at this time:
5,000,000,000 ISK

Total amount previously
admitted to trading:
0 ISK

Denomination:
5,000,000 ISK

Issue date:
25.11.2009

First due date:
15.04.2010

Number of due dates:
49

Maturity date:
15.04.2034

Interest calculated from:
25.11.2009

First interest payment date: 
15.04.2010

Number of interest payments:
49

Interest:
4.65%

Indexed:
Yes

Name of index:
Vísitala Neysluverðs (Iceland Consumer Price Index)

Base index value:
349.6 for November 2009

Dirty price / Clean price:
Clean price

Day count convention:
30/360

Call option:
No

Put option:
No

Convertible:
No

Market making:
N/A

Credit Rating (rating agency, date):
Moody's, Ba1, stable outlook, 11 November 2009

Securities depository:
Icelandic Securities Depository (Verðbréfaskráning Íslands)

Issued electronically:
Yes

Coordinator - admission to trading:
NBI hf.


Comments:
Reference is made to the Issue Description for detailed information in regards
to the Acceleration Conditions Clause.