Bakkavör Group hf. - Major shareholder announcements

Sale of shares in Bakkavör Group

The Board of Exista has today 10 October 2008 decided to sell all shares in
Bakkavör Group hf, a total of 855,151,478 shares representing 39.629% of the
total share capital, to ELL 182 ehf. The price is ISK 9.79 per share which is
the last closing price of Bakkavör Group 8 October. Following the transaction,
Exista and its affiliates do not own any shares in Bakkavör Group. The
transaction is subject to creditors´ approval. 

The sale contributes to ensure stability in the Group's future operations and
ownership.