Moody's places HFF on review for possible downgrade

Moody's Investors Service has yesterday 30 September 2008, placed the Aa1
issuer rating and local currency ratings of Iceland's Housing Financing Fund
("HFF") on review for possible downgrade. This rating action has been prompted
by Moody's decision to place Iceland's government bond and foreign currency
ceiling for bank deposits on review for possible downgrade. 

See attached