Skipti hf. - Company Announcement

Skipti sells Tæknivörur ehf.

Skipti hf. has signed an agreement to sell its subsidiary Tæknivörur ehf. The
buyer is Eignarhaldsfélagið Tækni ehf.(Tækni Holding). The buying price is
confidential. The effect on Skipti is a loss of approximately 400 million ISK. 

Tæknivörur was founded in 1992 and imports end user equipment and is in
collaboration 
with many big manufacturers in the communications equipment business. With the
company's specialization in the communications equipment sector, Tæknivörur has
a wide selection of products that reflect the market as a whole. Tæknivörur is
a commercial agent for some of Europe's biggest company's such as Sony
Ericsson, LG Mobile, Samsung Mobile and Thomson. The company's objective is to
be a pioneer in communications end user equipment for corporate and residential
markets.