Atorka Group hf. - Company Announcement

Atorka Group hf. reaches agreement with bond holders concerning the bond series ATORKA 07 2 and ATORKA 06 1

In connection with the financial restructuring of Atorka Group hf. currently
being negotiated with the company's banks, Atorka Group hf. has reached an
agreement with all holders of bonds in the series ATORKA 07 2, issued in the
amount of ISK 3.5 billion face value, and the series ATORKA 06 1, on interest
payments, issued in the amount of ISK 2 billion face value, on stand still
until 20 March 2009. 

The agreement provides for the establishment of a committee, comprised of
representatives of owners of the bond series. The committee will work on
drafting an agreement to safeguard the interests of the holders of bonds in
these series. 

Once a conclusion has been reached, an announcement will be released.

Further information is available from Arnar Mar Johannesson, CFO,  
tel. +354 540-6200.