Atorka Group hf. - Company Announcement

Purchase agreement between largest shareholders in Geysir Green Energy's and FL-Group has been reached.

The combined stake is 43.1% and the total purchase price was ISK 10.5
billion. Atorka's subsidiary, Renewable Energy Resources, now holds
43.8% stake, VKG Invest owns 10.8%, Bar Holding 2% stake and
Reykjanestown holds 1%. Glacier Renewable Energy Fund, investment
fund managed by Glitnir holds 42.4% stake in Geysir Green Energy.
Simultaneously with the sale, FL-Group has transferred 18.4% of it's
stake in Geysir Green Energy into Glacier Renewable Energy Fund.

Glacier Renewable Energy is a green investment fund managed by
Glitnir Funds hf. GREF's  that invests  in renwable energy projects .
Glitnir's current stake in Geysir Green Energy will be placed into
Glacier Renewable Energy Fund  that is part of Glitnir's asset
management business .  Glacier Renewable Energy Fund will hold 42.4%
stake in Geysir Green Energy.

Atorka has increased its share in Geysir Green Energy (GGE) about
11.5%, through its company Renewable Energy Resources (RER), Atorka
now holds 42.8% stake in the company. The total purchase price of
their shares was ISK 2.7 billion; the buy was financed with property
sale and has therefore no influence on the company's financial
position which remains very strong.

Magnús Jónsson, CEO of Atorka Group:"We are pleased to increase our share in Geysir Green Energy because
we believe in the company and foresee great investment opportunities
in geothermal energy. Great deals of projects are ahead in this field
where Geysir and its subsidiaries remain strong on the international
market".

Magnús Bjarnason, EVP International Banking."The foundation of Geysir Green Energy was one year ago was new
chapter in Glitnir's geothermal strategy; Glacier Renewable Energy is
another large step in the development of our niche strategy.  We have
been approached by number of investors that would like to co invest
in our niche strategy,  Glacier is ideal product for those investor
and new and exciting chapter in Glitnir business development".

Jón Sigurðsson, CEO of FL-Group:"FL-Groups decision to sell its stake in Geysir is a part of the
company's revised strategy concerning investments outside nuclear
investments. Geysir has prospered under FL-Groups leadership and
grown considerable in a short amount of time. Geysir's future is
bright and we trust Atorka Group and Glitnir Bank for the future of
the company, they possess specialised knowledge in the field of
environmental energy. FL Group will continue to have vested interest
in Geysir Green Energy as primary investor in Glitir Bank.

About Atorka Group
Atorka is an investment company that supports progressive enterprises
that take advantage of worldwide developments, assisting those
companies in becoming global leaders. In its investments, Atorka
seeks out companies that have sound operations and strong management
and possess the potential for substantial internal and external
growth. The Company targets projects with considerable potential for
growth and value enhancement, aiming at investments for periods of
3-5 years.

For further information contact;
Magnus Jonsson, CEO of Atorka Group tel.: +354 5406200 and Valdis
Arnardottir PR and Communication Manager tel.: +354 8406217