Bakkavör Group hf. - Major shareholder announcements

Purchase of shares in Bakkavör Group hf.

ELL 182 ehf., a wholly owned company by Lýdur Gudmundsson and Ágúst
Gudmundsson, has today 10 October 2008 purchased a total of 855,151,478 shares
in Bakkavör Group hf. or 39.629% of the total share capital of Bakkavör Group.
The price is ISK 9.79 per share which is the last closing price of Bakkavör
Group 8 October. The transaction is subject to creditors´ approval.