Unchanged Credit Rating of Orkuveita Reykjavikur by Moody's

7/18/2012 1:45 PM EST 

Orkuveita Reykjavíkur
Company Announcement

Unchanged Credit Rating of Orkuveita Reykjavikur by Moody's

Reykjavik, 2012-07-18 19:45 CEST (GLOBE NEWSWIRE) -- Moody‘s gives Orkuveita
Reykjavikur (OR - Reykjavik Energy) ratings of B1 with negative outlook, which
is unchanged from previous ratings. This will not affect the operations or debt
of OR. The company and its owners introduced in March 2011 an action plan for
the period 2011-2016 which aims at OR not seeking foreign funding in the
period.
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Unchanged Credit Rating of Orkuveita Reykjavikur by Moody's