Icelandic Group hf. - Changes board/management/auditors

- New Directors in Icelandic Group

Ingvar Eyfjord has been appointed Deputy CEO of Icelandic Group.  Ingvar has
extensive experience in the management, sales and marketing in the food
industry. Ingvar will work alongside Finnbogi Baldvinsson CEO in the day to day
operations of the Group and Group strategy.  Ingvar has a BSc degree in
fisheries science from the University in Akureyri. He held the position of
Sales Manager of Tros from 1998 to 2000.  In 2000 he took over as Managing
Director of Tros and headed the company for two year, at which time he accepted
the postion of Sales Manager of retail products for SIF in the UK. He 
wasManaging Director of the salted fish operations of SIF in 2004 and took over
the position of Managing Director of Fiskval in 2005. 

Ingvar Eyfjord is married to Margret Elisabet Knutsdottir, midwife, and they
have two children, Knutur Eyfjord and Jokull Eyfjord. 

Elfar Berthorsson will take over Ingvar's position of Manging Director of
Fiskval.  Elfar has held the position of Sales Manager of Fiskval since 2006.
Elfar was also a Sales Manger for Tros from 2000 to 2005 and before that
Processing Manager at Jon Erlings from 1998 to 2000. 

Elfar is married to Valgerdur Gudbjornsdottir and they have three children,
Kolbrun Maria, Emilia Hildur and Isak Snaer. 


Director of Internal Control of Icelandic Group
Finnbogi Gylfason has been appointed Director of Internal Control of Icelandic
Group. Finnbogi joined the Financial Divison of the Group in 1997 and has been
with the  company since then. 

Finnbogi has a business degree from the University of Louisiana in Monroe and
studied towards a Masters degree in the years 2002 to 2004 with emphasis on
finance in the University of Iceland. 

Finnbogi is married to Svana Huld Linnet and they have two children, Kistjan
Floki and Ylfa.