Ossur Hf : Share buy-back of 9,863,578 own shares for approx. USD 28.8 million

Announcement from Össur hf. nr. 20/2014
Reykjavík, 17 November 2014

The  share  buy-back  transaction  is  initiated  pursuant  to the authorization
granted  to the Board of Directors by the Annual General Meeting in March 2014,
which  authorizes the Company to acquire treasury  shares at a nominal value not
exceeding  10% of the share  capital. The purchase  price shall be determined in
accordance  with the Icelandic  law. The law  currently states that the purchase
price shall be the closing price on the market where the shares are purchased on
the last trading day prior to the trade.

Volume and price:

Today the Company purchased 9,863,578 of own shares (approx. 2.2% of outstanding
shares)  on NASDAQ Iceland at  a share price of  ISK 364 (approx. DKK 17.5). The
total  purchase price is  approx. ISK 3,590 million  (approx. DKK 172 million or
approx. USD 28.8 million).


The purpose of the share buy-back transaction is to adjust the capital structure
in line with the Company's desired capital level of net interest bearing debt in
accordance  the Company's Dividend  Policy. Accordingly, the  Company intends to
propose to the Annual General Meeting in 2015 to decrease the share capital as a
result of this transaction.

Contact persons:

Jón Sigurðsson, President & CEO Tel: +354 515 1300

Sveinn Sölvason, CFO Tel: +354 515 1300

Eva Sóley Guðbjörnsdóttir, VP of IR Tel: +354 664 1155