Legal filing regarding the annual general meeting

Announcement 1/2010



Further to the announcement no. 16/2009 of 7 July 2009, Føroya Banki shall

hereby notify that the legal proceedings filed by certain shareholders

regarding the lawfulness of the election of the Board of Directors at the

ordinary general meeting 30 March 2009 has now been withdrawn by the claimants.

Accordingly, the case is now considered closed.



P/F Føroya Banki



Further information:

Mr. Janus Petersen, CEO. Tel: +298 330 340