At the annual general meeting of Føroya Banki on Monday, March 29, 2010, the
shareholders

• Approved the Annual Report for 2009 and the allocation of net profit
• Approved the board of director's proposals on amendments of the Articles of Association, to change the name from Føroya Banki to BankNordik, by 76,14% for,
  and 23,86% against.
• Re-elected Klaus Rasmussen, Jens Erik Christensen and Keld Søndergaard Holm to the Board of directors. Elected Nils Suni Sørensen to the Board of directors
• Appointed NOTA, Løggilt Grannskoðanarfelag P/F, together with
  PricewaterhouseCoopers Denmark as external auditors
• Renewed the authorisation of Føroya Banki to acquire up to 10% of its own
  shares

Immediately after the annual general meeting the board of directors adjoined to
elect its chairman and vice chairman respectively.

Klaus Rasmussen continues as chairman and Jens Erik Christensen continues as
vice chairman.

The Board of Directors of Føroya Banki hereafter consists of:

Klaus Rasmussen, chairman of the board
Jens Erik Christensen, vice chairman of the board
Keld Søndergaard Holm, board member
Nils Suni Sørensen, board member
Sigmar B. Jacobsen, board member elected by the employees
Olav Enomoto, board member elected by the employees

The election of employee board members will take place on April 22, 2010. The
result of the election will be made available on April 27, 2010. Immediately
hereafter the elected candidates will join the board.

Yours faithfully
Føroya Banki
Board of director's secretariat

Bjarki Mohr Arne Mikkelsen