Announcement from LBI hf.

LBI hf. and Landsbankinn hf. have reached an agreement on amending the terms of bonds issued by Landsbankinn hf., following discussions requested by Landsbankinn hf. The bonds were issued in December 2009 in relation to the settlement agreements between the two parties. The outstanding balance of the bonds is now equivalent to approximately ISK 226 billion. According to the agreement, the repayment period is to be lengthened by 8 years and the final payment date will be in October 2026 instead of October 2018. The new terms will become effective when certain conditions set by LBI hf. concerning exemptions from capital controls have been granted.

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