Marel Food Systems hf. - Company Announcement

Competition authorities approve the acquisition of Stork Food Systems by Marel Food Systems hf.

On 28 November, Marel Food Systems hf. announced that the company had entered
into an agreement to acquire the Stork Food Systems division of Stork N.V. The
purchase price is EUR 415 million. The acquisition was subject to: 

• a takeover offer by London Acquisition N.V. for all shares in Stork N.V.
  being  declared unconditional; 
• the opinion of the Stork Work Council;
• the approval of European competition authorities.

The European competition authorities have now approved without reservation the
acquisition of Stork Food Systems by Marel Food Systems hf. The takeover offer
by London Acquisition N.V. for all shares in Stork N.V. was declared
unconditional on 17 January 2008. The Stork Works Council has also delivered a
positive opinion on the acquisition. As a result, all the conditions in the
agreement between Marel Food Systems and Stork N.V. have been satisfied. 

Marel Food Systems hf. has financed the entire purchase price with loan
financing and the issue of new share capital, underwritten by Landsbanki
Íslands hf., with the support of the company's largest shareholders. A new
offering of shares in Marel Food Systems to pre-emptive right holders is
scheduled for Q2 2008. 

United, the two companies will be a forerunner in the development of equipment
for the food processing industry.  Their combined turnover is 660 million Euros
and the number of employees exceeds four thousand.  Marel Food Systems will now
have the critical mass to enter emerging markets and is better placed to
provide comprehensive services to large international clients. 

Contact:
For further information, please contact Dr. Hordur Arnarson, President & CEO of
Marel Food Systems hf. at tel. +354 563 8072.