Alfesca hf. - Notice to convene extr.general meeting

- Shareholders' meeting to be held Wednesday 12 August 2009

At the request of Rekstrarfélag Nýja Kaupþings banka hf. (on behalf of
Kaupthing ÍS-5, Kaupþing ÍS-15 and ICEQ verðbréfasjóður), Gildi lífeyrissjóður,
Sameinaði lífeyrissjóðurinn and Stafir lífeyrissjóður, the board of Alfesca hf.
convenes a shareholders' meeting at Hilton Reykjavik Nordica, on Wednesday 12
August 2009 at 17:00. 

The agenda of the meeting includes the following items of business:

1.	Lur Berri Iceland ehf.'s takeover bid to shareholders of Alfesca hf., dated
25 June 2009 
2.	That a representative of Saga Capital Investment Bank or the board of
directors of Alfesca hf. presents a thorough account of the appraisal that was
carried out on behalf of the board of directors of Alfesca hf. pursuant to
paragraph 7 of Article 104 of the Act on Securities Transactions no.108/2007
and which was published on Nasdaq OMX Iceland stock exchange.  The presentation
shall, among other matters, explain with a scenario and sensitivity analysis
the assumptions made in relation to the future growth of the Company and the
required rate of return taken into account for the purposes of the appraisal. 
It is also required that the presentation sets out a comparison of the
valuation multiples of comparable companies taken into consideration and that
access is given to the appraisal prepared by Saga Capital Investment Bank at
the request of the shareholders of the Company. 
3.	That a representative of IFS Ráðgjöf ehf., is invited to present a report on
its appraisal of the takeover bid. 
4.	That the shares of Alfesca hf. are not applied to be withdrawn from listing
on the Nasdaq OMX Iceland stock exchange and/or will be applied to be admitted
to trading on another regulated market and further that the Company enters into
a contract with at least one market maker on the Nasdaq OMX Iceland stock
exchange in respect of the Company´s shares listed on the exchange. 
5.	That the shareholders collectively not forming the consortium of investors
that have submitted the takeover bid on 25 June 2009 in respect of the shares
of the Company be entitled to appoint one observer to attend meetings of the
board of directors of the Company. 
6.	That all contracts entered into by the consortium of investors that
submitted the takeover bid on 25 June 2009 regarding the control and management
of Alfesca hf., as set out in page 4 of the offer document published on the
Nasdaq OMX Iceland stock exchange, are made available to the shareholders of
the Company and accounted for, so that other shareholders not part of the
consortium of investors that submitted the takeover bid on 25 June 2009 are
able to form a better opinion regarding the future management of the Company. 


5 August 2009

The Board of Directors
Alfesca hf.

Notes:
1.	The meeting will be held in English.
2.	Ballots and other relevant materials will be available at the entrance of
the venue of the meeting. 
3.	Only members registered on the Company's shareholder register shall be
entitled to attend and vote at the shareholder meeting.