Atorka Group hf. - Company Announcement

Bond issue due May 12, 2009

Today, May 12, are due payments of the bond issue ATOR 07 8 which will not be
paid. 

As stated in press release dated May 7, the Company hired
PriceWaterhouseCoopers in Denmark to work on total evaluation of Atorka‘s
investment portfolio and presumptive development in the coming years.  This
work is estimated to take 3-4 weeks and will be finished by end of May. 

After this evaluation, Atorka will present its ideas of the financial
restructuring of the company. 


Further information is available from Arnar Mar Johannesson, CFO,  tel. +354
540-6200.