Eignarhaldsfélagið Farice ehf. - Company Announcement

Financial restructuring

Eignarhaldsfélagið Farice ehf. and its subsidiary, Farice hf., in cooperation
with their largest creditors and shareholders, are still working on a financial
restructuring of the companies. All parties to the standstill agreement in
Eignarhaldsfélagið Farice ehf. have agreed an extension of that agreement until
3 December 2010.