Arion Bank completes commercial papers offering

| Source: Arion Bank hf.

Today Arion Bank completed an offering of 12-, 6- and 5-month commercial papers. In total, 15 bids were received for the total amount of ISK 2,040 million and offers worth ISK 1,460 million were accepted.

The 5-month series attracted 4 bids totaling ISK 400 million at a flat rate of 4.28% - 4.35%. Bids amounting to ISK 100 million at 4.30% flat rates were accepted.

The 6-month series attracted 10 bids totaling ISK 1,540 million in total at a flat rate of 4.28% - 4.35% Bids amounting to ISK 1,360 million at 4.34% flat rates were accepted.

The 12-month series attracted 1 bid of ISK 100 million at a flat rate of 4.55%. The bid was rejected.

The commercial papers are scheduled to be admitted to trading on Nasdaq Iceland 20 June.

For further information please contact Haraldur Gudni Eidsson of Arion Bank's Communications division at, or tel. +354 856 7108