Össur hf. Refinancing

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                                               Announcement Össur hf. No. 4/2011
                                                         Reykjavik, 9 March 2011
Today Össur signed an agreement with three international banks, ING Bank, Nordea
and SEB, on long-term financing in the amount of USD 231 million. The financing
marks a milestone for Össur as the Company has now established international
access to both debt and equity financing.

Highlights:
  * Total financing of USD 231 million:

      * USD 120 million multicurrency amortizing term loan
      * USD 111 million multicurrency revolving credit facility for general
        corporate purposes and acquisitions

  * The initial average interest terms are 145 bps + LIBOR/EURIBOR
  * Interest terms will be subject to a margin grid, changing in line with
    financial leverage
  * The financing is for five years, maturing in 2016
  * Terms and conditions are in line with Loan Market Association (LMA)
    corporate standards
  * All three banks acted as Bookrunning Mandated Lead Arrangers


The terms are favorable, reflecting Össur's strong financial profile and good
prospects. All existing debt will be refinanced and overall cost of funding will
decrease.

FTI Consulting acted as financial advisors and Slaughter and May as legal
advisors to the Company.

For further information, please contact:
Jón Sigurðsson, President & CEO Tel: +354 515 1300
Hjörleifur Pálsson, CFO Tel: +354 515 1300



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About Össur
Össur  (OMX: OSSR)  is a  global leader  in non-invasive  orthopaedics that help
people  live a  life without  limitations. Its  business is focused on improving
people's  mobility through  the delivery  of innovative  technologies within the
fields  of  braces,  supports,  prosthetic  limbs  and  compression therapies. A
recognized  "Technology Pioneer",  Össur invests  significantly in  research and
product  development; its  award-winning designs  ensuring a consistently strong
position  in the  market. Successful  patient and  clinical outcomes are further
empowered via Össur's educational programs and business solutions. Headquartered
in  Iceland, Össur has major  operations in the Americas,  Europe and Asia, with
additional distributors worldwide.

Forward-Looking Statements
This press release includes "forward-looking statements" which involve risks and
uncertainties  that could cause actual results to differ materially from results
expressed or implied by these statements. Össur hf. undertakes no obligation and
does  not intend to update these forward-looking statements to reflect events or
circumstances occurring after this press release. You are cautioned not to place
undue  reliance on these forward-looking statements,  which speak only as of the
date  of this  press release.  All forward-looking  statements are  qualified in
their entirety by this cautionary statement.


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