Straumur-Burðarás Fjárfestingabanki hf. - Company Announcement

Straumur sells its holdings in Wood & Company

16 March

The Partners of Wood & Company Financial Services (Wood) have decided
to exercise their rights to purchase all of Straumur's 50% shares in
Wood. The Partners have therefore resumed full control of Wood as of
today.

The purchase price for the shares is EUR 10 million, plus an earn-out
consisting of 30% of the profit of Wood for the next two years, up to
a maximum amount of EUR 5 million.
In addition, the Partners have agreed to terminate their option to
put their shares to Straumur, which frees Straumur of a contingent
liability estimated to be EUR 50 million.

Further information:
Straumur Burdaras Investment bank hf.
Tel: +354 585 6600
info@straumur.com