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2016-01-31

Islandsbanki hf. : 95% stake delivered to the Central Bank of Iceland and the Icelandic Government

Glitnir has signed an agreement to deliver the estate's stability contribution
to the Central Bank of Iceland and the Icelandic Government. A portion of the
stability contribution is Glitnir's 95% stake in Íslandsbanki. The Government
previously owned a 5% share in Íslandsbanki; therefore, the Bank will now be
wholly State-owned. This change is subject to the approval of the Competition
Authority, and the transfer of ownership will not take place until such
approval has been obtained.

As has been stated previously, the change in ownership will not affect the
day-to-day operations of Íslandsbanki, and the Bank's customers and employees
will not notice any changes as a result of the transaction.

For further information:

* Investor Relations - Tinna Molphy,tinna.molphy@islandsbanki.is, tel +354
440 3187.
* Media Relations - Edda
Hermannsdottir,edda.hermannsdottir@islandsbanki.isand tel: +354 440 4005.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Islandsbanki hf. via Globenewswire

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