Marel Food Systems hf. - Managers' transactions

- Stock Option Agreements

Today, December 3 2007 stock option agreements have been made with several
Marel Food Systems hf employees in concordance with the company's stock option
plan. The grant price is ISK 92.0 per share. The goal of the stock option plan
is to intertwine employee interests with those of the company for the benefit
of both. 

Employees are permitted to exercise 50% of their options in February 2010 and
the latter 50% in February 2011. 1.2 million shares have been allocated to this
stock oprtion plan. 

The following insiders are among those who have received stock options
according to this plan: 

Sigsteinn Grétarsson, Managing Director of Marel ehf.
Nominal amount: 350.000
Grant price: 92
Current share ownership 23.497
Stock options in total: 500.000

Lárus Ásgeirsson, Corporate Vice  CEO and Director of Sales
Nominal amount: 200.000
Grant price: 92
Current share ownership: 0
Stock options in total: 500.000
Financial related parties to Lárus Ásgeirsson currently own 1.021.395 shares in
Marel Food Systems hf.