Hf. Eimskipafélag Íslands - Company Announcement

Eimskip divests its 50% holding in Euro Container Line

Reykjavik, Iceland, 3 September, 2008 - Eimskip (OMX: HFEIM), the international
transportation company, today announced that it has agreed to divest its 50%
ownership in Euro Container Line („ECL“) the Norwegian shipping company to
Wilson ASA. Selling price is ISK 712 million, and the profit of the sale is ISK
491 million. 
Gylfi Sigfússon commented: "The sale is a part of the Group's previously
communicated strategy to focus on development of Eimskip's core business. ECL
has not been a part of Eimskip's sailing system and the divestment will not
impact its services. 

Eimskip continues to have a strong foothold in the North Atlantic region
through its well established brands; Eimskip, Eimskip-CTG, Faroe Ship and
Containerships."

Further information:
Gylfi Sigfusson
President/CEO of Eimskip
Tel: 525-7202