Landsafl hf. - Financial Statement Release

2007

Landsafl´s Financial Results 2007

Landsafl´s profit ISK 4.1 billon

Key results for 2007:

•  Total assets ISK 23.5 billion compared to ISK 17.3 billion the year before 

•  Total equity ISK 8.2 billion at year-end. Total equity at year end 2006
   amounted to 4.1 billion. 

•  Total revenues amounted to ISK 1.2 billion in 2007.

•  Profit for the year is ISK 4.1 billion compare to loss of 725 million in
   2006. 

•  Valuation of investment properties amounted to 5.5 billion in 2007.


Operational highlights for 2007:

•  Refurbishment and enlargement of Holtagarðar, retail centr.  First phase
   completed in November 2007. 

•  Became part of Landic Property hf.

Outlook

•  Completion of the enlargement of Holtagarðar. 

The financial statements for Landic Property hf. are prepared in accordance
with the International Financial Reporting Standards (IFRS). The financial
statements have been audited by the company's auditors. 

Further information

For further information on the financial statements, please contact:
Guðrún Ögmundsdóttir, Investor Relations, tel: +354 895 6066
Anna Sif Jónsdóttir, CFO of Landic Iceland, tel. +354 867-8269

About Landsafl and the outlook:
Landsafl er a subsidiary of Landic Property and owns 16 properties in Iceland.
The future business outlook is good.

Attachments:

landsafl hf 2007.pdf

press realese landsafl.pdf