Hf. Eimskipafélag Íslands - Managers' transactions

Issuance of Stock Option

Hf. Eimskipafélag Íslands has today granted Gudmundur Davidsson, CEO of Eimskip
Iceland call option agreement. Call option granted annually will amount to
1,000,000 shares. Eimskip's objective of call options is to motivate the
management and link the interest of shareholders and key management further. 

The option entitles purchase of shares at the price ISK 38.3 per share, on
January 15, for the next three years, January 15 2008, 2009 and 2010. No put
options or finance are related to it. The option is valid only if the holder is
still employed by Eimskip. 

Financial related parties to Gudmundur Davidsson currently own 600,000 shares
in Eimskip. 
  
Hf. Eimskipafélag Íslands has granted call options for a total number of
48,450,000 shares.